Liberty Global ended 2009 on a high note, with Q4 revenues for its UPC Broadband Division being 11.6% up year-on-year at $1,111.3 million (€820.2 million).
Gene Musselman will take the helm as acting MD of Germany’s Unitymedia, alongside his jobs as president and COO of UPC Broadband, the European subsidiary of Liberty Global. Parm Sandhu, current CEO of Unitymedia, has decided to leave the company to pursue other career opportunities.
Liberty Global has received regulatory clearance from the European Union for its €3.5 billion purchase of Unitymedia.
Liberty Global has announced the sale of its 37.8% ownership interest in Jupiter Telecommunications (better known as J:COM), the Japanese communications provider, to KDDI Corporation, the second largest wireless operator in Japan.
Liberty Global, the US-owner of UPC Broadband, is to purchase the German cablenet Unity Media for €3.5 billion. Private equity owners Finakabel Holdings/BC Partners and Apollo Management were expected to launch an IPO yesterday (November 12), when the operator announced its third quarter results, being named as the most likely date for an announcement.
Liberty Global has posted a net loss of $35.7 million (€24.2 million) for the third quarter, which is a considerable improvement on the $278.3 million recorded in Q3 2008. Its revenues meanwhile amounted to $2,824.2 million, reflecting a 4% rebased growth on a year earlier.
Leading technology companies including Cisco, EventIS and Teleste have been honoured in the annual Liberty Global Vendor Awards.