AMC Networks Completes Chellomedia Purchase for $1 Billion

AMC Networks Completes Chellomedia Purchase for $1 Billion

Allows AMC to distribute original content worldwide

AMC Networks Inc. has completed its acquisition of Chellomedia, the international content division of Liberty Global, for roughly $1 billion. The deal will allow it to distribute its programming worldwide.

“Chellomedia has a collection of strong, well-established and well-managed assets worldwide and we're excited about the long-term growth opportunity this acquisition represents for AMC Networks and its shareholders,” said Josh Sapan, president and CEO of AMC Networks.

Also read: AMC Network's Buying Liberty Global's Chellomedia for $1 Billion

The acquisition, first announced in October, provides AMC Networks an array of television channels distributed to more than 390 million households in 138 countries, in a range of genres. The channels will give AMC the chance to distribute content from AMC, IFC, Sundance Channel and WE tv across the world. The company airs hits including “The Walking Dead” (pictured).

The acquisition builds on the company's current international programming business, AMC/Sundance Channel Global.

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AMC Networks’ Chief Operating Officer Ed Carroll will lead the company's integration of Chellomedia. Reporting to him are the heads of Chellomedia's operating businesses: Alejandro Harrison, CEO of Chello Latin America; Mike Moriarty, managing director of Chello Central Europe; Dermot Shortt, CEO of Chello Zone; and Eduardo Zulueta, managing director of Chello Multicanal.

In addition, AMC/Sundance Channel Global's Bruce Tuchman, president of AMC/Sundance Channel Global, will continue to report to Carroll. Tuchman will continue to be supported by executive vice presidents Ed Palluth and Harold Gronenthal.