Liberty Global to Sell Chellomedia to AMC Networks for $1.0B

- Liberty Global

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announced today an agreement to sell substantially all of its international content division Chellomedia to AMC Networks Inc. (“AMC”)

. 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 will retain its Dutch premium channel business, which consists of its Film1 and Sport1 channels. Liberty Global expects to realize cash proceeds for the above-described assets that are approximately equal to the agreed upon enterprise value