AMC Networks Inc. (Nasdaq: AMCX) is buying Chellomedia from Liberty Global plc for $1 billion.
Chellomedia is Liberty Global’s international content division, and includes Chello Multicanal, Chello Central Europe, Chello Zone, Chello Latin American and Chello DMC. The deal also includes Chellomedia’s stakes in joint ventures with CBS International, A&E Networks, Zon Optimus and other partners.
The cable group counts about 390 million households in 138 countries as customers, helping AMC broaden distribution of its original programming, which includes shows such as “Mad Men” and “The Walking Dead.”
Liberty Global says the deal allows it to focus on its core markets and strategic programming opportunities. The company said it will keep its Film1 and Sport1 channels in the Netherlands, as it looks to continue growing its operations via M&A.
The London-based cable company, which has operations in 14 countries, has made several recent acquisitions. In March, the company agreed to buy a stake in Ziggo NV. In February, Liberty came to a deal acquire Virgin Media Inc. (Nasdaq: VMED) in a $23.3 million deal. In Sept. 2012, the company agreed to buy Telenet Group Holdings NV. Morgan Stanley acted as Liberty Global’s financial adviser on the deal.