Liberty Global Closes Sale Of Chellomedia To AMC Networks

(RTTNews) - U.S. cable group Liberty Global Plc. (LBTYA, LBTYB, LBTYK) announced Monday that it has completed the sale of substantially all of the assets of Chellomedia to cable television network AMC Networks Inc. (AMCX) for 750 million euros or $1.00 billion.

Liberty Global stated that it will retain its Dutch premium channel business, which consists of its Film1 and Sport1 channels.

AMC Networks said that its' Chief Operating Officer Ed Carroll will lead the company's integration of Chellomedia. Reporting directly to Carroll are the heads of Chellomedia's operating businesses: Alejandro Harrison, Chief Executive Officer - Chello Latin America; Mike Moriarty, Managing Director - Chello Central Europe; Dermot Shortt, Chief Executive Officer - Chello Zone; and Eduardo Zulueta, Managing Director - Chello Multicanal. In addition, AMC/Sundance Channel Global's Tuchman will continue to report to Carroll.

In October 2013, Liberty Global had agreed to sell substantially all of its international content division Chellomedia to AMC Networks for 750 million euros.