Liberty Global Buys Unitymedia for $5.2 Billion

German company is Europe's No. 3 broadband cable operator.

John Malone has finally got himself a piece of the German cable TV market following the €3.5 billion ($5.2 billion) acquisition of Cologne-based cable group Unitymedia by Malone's Liberty Global Inc.

The deal, announced Friday, will see Liberty pay €2 billion ($3 billion) in equity and take over €1.5 billion ($2.2 billion) in debt from Unitymedia, Europe's third-largest broadband cable operator, with 4.6 million direct customers in Germany.

Read more in the Hollywood Reporter.