Hogan Lovells Advises Liberty Global on $1Bn Chellomedia Sale
29 October 2013
LONDON, 29 October 2013 - Hogan Lovells has advised Liberty Global on the disposal of its international content division, Chellomedia, to AMC Networks Inc. for $1 billion. The deal was announced on Monday 28 October.
Chellomedia is a leading producer and distributor of television channels, including joint ventures with CBS International, A+E Networks, Zon Optimus and certain other partners, which are being sold in addition to Chello Multicanal, Chello Central Europe, Chello Zone, Chello Latin America and Chello DMC.
Liberty Global, the largest international cable company with operations in 14 countries, will retain its Dutch premium channel business, which consists of its Film1 and Sport1 channels.
Hogan Lovells previously advised Chellomedia on the acquisition of MGM Networks Inc from Metro-Goldwyn-Mayer Studios Inc. in August 2012; and Liberty Global on the European competition, pensions and employee share plan aspects of its $24 billion takeover of Virgin Media in February this year.
The Hogan Lovells team advising Liberty Global was led by corporate partner Alan Greenough and corporate Of Counsel Keith Woodhouse.
Commenting on the transaction, Alan said:
"We are pleased to have advised on this high profile and strategically important transaction for our clients which is attractive from both a valuation and liquidity perspective. It will allow Liberty Global to simplify its business and focus on its core markets and more strategic programming opportunities".