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AMC Networks announced that it has an agreement with Liberty Media to buy the company's international content division, Chellomedia.
AMC announced the news in a press release, where the network notes that the agreement is for $1.035 billion. The purchase of Chellomedia would allow AMC to greatly expand its audience for its own programs, like The Walking Dead and Mad Men, and additional TV channels in 138 countries.
President and CEO of AMC Networks Josh Sapan said, "Chellomedia has developed a remarkable portfolio of popular channels that reach hundreds of millions around the world. As AMC Networks has expanded internationally, we have had a great desire to do something we consider fundamentally strategic, which is to take our content and put it on channels we own."
Sapan added, "Together, we can grow these assets and make them even more popular and valuable around the world."
According to The New York Times, AMC Networks, which also owns IFC, IFC Films, WE and the Sundance Channel, will acquire Chello Central Europe, Latin America, Multicanal, Chello Zone, Atmedia and Chello DMC.
"AMC Networks are content professionals with an excellent creative and business track record," Chellomedia President Niall Curran said. "They are highly enthusiastic about the business we have built at Chellomedia and are ambitious to develop it further."
Liberty Global will keep Film1 and Sport1, which are its Dutch premium TV channels.