Liberty Global Completes Unitymedia Buy

ENGLEWOOD: Liberty Global has completed its acquisition of German cable operator Unitymedia after receiving regulatory approval earlier this week.

The acquisition, which involved total consideration of approximately 3.5 billion euros, sees Liberty Global taking control of the largest cable television operator in the German federal states of North Rhine-Westphalia and Hesse, with 6.4 million revenue-generating units. Gene Musselman, the president and COO of UPC Broadband, will serve as acting managing director of Unitymedia in addition to his European role. Parm Sandhu, the current CEO of Unitymedia, is leaving the company.