AMC Networks said Monday that it has closed its acquisition of international content giant Chellomedia from Liberty Global for about $1 billion.
AMC first announced the deal in late October. With Chellomedia, AMC gets a suite of networks that are distributed in more than 390 million homes in 138 countries. The channels span a range of genres, including movie and entertainment networks, providing opportunities for AMC Networks to distribute its original programming from AMC, IFC, Sundance Channel and WE tv across a global footprint and build on its existing international channel – AMC/Sundance Global.. AMC/Sundance Global president Bruce Tuchman will continue to lead that business for AMC Networks with the support of executive vice presidents Ed Palluth and Harold Gronenthal.
“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 AMC Networks CEO Josh Sapan.