AMC Networks Completes Chellomedia Acquisition

NEW YORK: AMC Networks has completed its $1 billion acquisition of Chellomedia from Liberty Global.

AMC Networks now has control of Chellomedia's TV channels that are distributed in more than 390 million households in 138 countries. This provides opportunities for AMC Networks to distribute its original programming from AMC, IFC, Sundance Channel and WE tv across this global footprint.

Bruce Tuchman, the president of AMC/Sundance Channel Global, will continue to lead this key business for AMC Networks with the support of executive VPs Ed Palluth and Harold Gronenthal. Ed Carroll, AMC Networks' COO, will lead the company's integration of Chellomedia. Reporting directly to Carroll are the heads of Chellomedia's operating businesses: Alejandro Harrison, the CEO of Chello Latin America; Mike Moriarty, the managing director of Chello Central Europe; Dermot Shortt, the CEO of Chello Zone; and Eduardo Zulueta, the managing director of Chello Multicanal. Tuchman will continue to report to Carroll.

"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, the president and CEO of AMC Networks.