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The acquisition gives Chellomedia ownership of MGM Networks’ channels in India and other countries along with the pan-EMEA Channel and its associated feeds
Metro-Goldwyn-Mayer Studios Inc. (MGM) and Chellomedia, the international content division of Liberty Global, Inc., have announced a transaction in which Chellomedia has acquired MGM Networks Inc (“MGM Networks”). MGM will retain its network businesses in US, Canada, UK, Germany and its joint venture interests in Brazil and Australia.
The acquisition gives Chellomedia ownership of MGM Networks’ channels in Spain, Turkey, Israel, Benelux and Poland, India and South East Asia, along with the pan-EMEA Channel and its associated feeds. In addition, Chellomedia has acquired the remaining 50% of MGM Latin America, which Liberty Global and MGM have operated as a joint venture since 1998, as well as the balance of its JV in Central Europe.
Chellomedia will continue to operate the channels under the MGM brand. In addition, Chellomedia has entered into a long term programming licensing agreement with MGM to allow the channels to continue to be programmed from MGM’s rich programming library, which includes classics such as ‘Rob Roy’ , ‘Rain Man’, ’Silence of the Lambs’, ‘All Quiet on the Western Front’, ‘When Harry met Sally’, ‘Misery’, ‘Dirty Rotten Scoundrels’, ‘Gorky Park’, ‘Four Weddings and A Funeral’, ’Thelma and Louise, and ‘The Madness of King George’.
The acquisition will strengthen Chellomedia’s position as a leading producer and distributor of television channels. Chellomedia currently produces and distributes 56 channels, including 19 joint ventures. The MGM Networks transaction, which includes 13 channels, feeds and a JV, will increase the footprint of Chellomedia’s channel portfolio to 382 million TV households.
Source
Metro-Goldwyn-Mayer Studios Inc. (MGM) and Chellomedia, the international content division of Liberty Global, Inc., have announced a transaction in which Chellomedia has acquired MGM Networks Inc (“MGM Networks”). MGM will retain its network businesses in US, Canada, UK, Germany and its joint venture interests in Brazil and Australia.
The acquisition gives Chellomedia ownership of MGM Networks’ channels in Spain, Turkey, Israel, Benelux and Poland, India and South East Asia, along with the pan-EMEA Channel and its associated feeds. In addition, Chellomedia has acquired the remaining 50% of MGM Latin America, which Liberty Global and MGM have operated as a joint venture since 1998, as well as the balance of its JV in Central Europe.
Chellomedia will continue to operate the channels under the MGM brand. In addition, Chellomedia has entered into a long term programming licensing agreement with MGM to allow the channels to continue to be programmed from MGM’s rich programming library, which includes classics such as ‘Rob Roy’ , ‘Rain Man’, ’Silence of the Lambs’, ‘All Quiet on the Western Front’, ‘When Harry met Sally’, ‘Misery’, ‘Dirty Rotten Scoundrels’, ‘Gorky Park’, ‘Four Weddings and A Funeral’, ’Thelma and Louise, and ‘The Madness of King George’.
The acquisition will strengthen Chellomedia’s position as a leading producer and distributor of television channels. Chellomedia currently produces and distributes 56 channels, including 19 joint ventures. The MGM Networks transaction, which includes 13 channels, feeds and a JV, will increase the footprint of Chellomedia’s channel portfolio to 382 million TV households.
Source
