Liberty Global has struck a deal to sell "substantially all" of its international content division, Chellomedia, to AMC Networks for about $1.03 billion, noting that the sale will allow the MSO to focus on core markets and "more strategic programming opportunities."
According to terms of the deal announced Monday, the assets being sold include Chello Multicanal, Chello Central Europe, Chello Zone, Chello Latin America and Chello DMC. In addition, Chellomedia's stakes in its joint ventures with CBS International, A+E Networks, Zon Optimus and certain other partners are also part of the divestment, Liberty Global said.
Liberty Global will retain its Dutch premium channel business, which includes Film1 and Sport1 channels.
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