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AMC Networks is about to go international. The company, which includes the home of The Walking Dead and Mad Men, has closed a deal to buy Chellomedia for $1 billion. The acquisition will help AMC expand beyond the U.S.
Chellomedia was part of Liberty Global, a European cable giant. The Associated Press notes that its family of networks are available in over 390 million homes and in 138 countries. The deal will help AMC bring its original content to the world directly.
“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,” AMC Networks CEO Josh Sapan said in a statement.
In addition to its flagship AMC, AMC Networks also includes IFC, the Sundance Channel and WE tv. The company’s AMC/Sundance Channel Global has previously made distribution deals with cable companies around the world in order to bring Breaking Bad, The Walking Dead, Mad Men and more to overseas audiences.
The deal was first announced in October, but not completed until early Monday. Liberty Group will get to keep its Dutch premium TV channels Film1 and Sport1.