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Publish Date : 31-Oct-2013

International law firm Clifford Chance has advised AMC Networks on its definitive agreement to acquire substantially all of Chellomedia, the international content division of Liberty Global, for EUR 750 million (approximately USD 1.035 billion). The transaction is expected to close in the first quarter of 2014.

The acquisition provides AMC Networks with an extensive array of television channels that are distributed to more than 390 million households in 138 countries. The channels span a range of genres, including movie and entertainment networks, providing significant long-range opportunities for AMC Networks to distribute its popular original programming from AMC, IFC, Sundance Channel and WE tv across an expansive global footprint. The acquisition builds on the company's existing international programming business, AMC/Sundance Channel Global, which has experienced impressive growth over the past five years and will continue to deliver AMC Networks' content to its global distribution partners.

Clifford Chance Corporate partner and Head of Media Daniel Sandelson commented: "We are delighted to be supporting AMC Networks in London and throughout our network of offices on this transformational M&A transaction in its first strategic acquisition outside of the US, a deal which is also one of the largest TV sector deals this year."

The deal is being led out of Clifford Chance's TMT Group by Corporate partner and Head of Media Daniel Sandelson in London with Corporate partner Ben Sibbett in New York.

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