Liberty Global has put its Chellomedia television-channel business up for sale, according to The Wall Street Journal.
The move could lead to a deal valued at between $800 million and $1 billion, the report says according to people familiar with the matter. Chellomedia’s revenue for the year ending December 31, 2012 was €399.2 million.
According to the story, Liberty Global about a month ago hired advisers to help arrange a deal and is in talks with a handful of suitors. The news comes after the acquisition by LGI of UK’s Virgin media in a transaction worth €17.2 billion. LGI also recently raised its stake in Dutch cable operator Ziggo to 15%.
Chellomedia, the European content division of Liberty Global, is an international media company and distributor of channels, content and video services. The division’s operating companies and business units currently own and operate in joint venture a total of 68 branded TV channels and run a suite of digital, on demand and broadband services in Europe. On aggregate, its channels and feeds reach 382 million homes. Of the 68 channels, of which 48 are 100% owned and 20 are joint ventures.
Chellomedia has six operating businesses: Chello Benelux, Chello Central Europe, Chello Latin America, Chello Multicanal, Chello Zone and the broadcast unit Chello DMC. The main offices are in London, Amsterdam, Madrid, Budapest, Miami and Buenos Aires with further regional offices and agents in Central Europe, China, Singapore and Israel.