Chellomedia acquires 50% of MGM Latin America
The content division of Liberty’s Chellomedia has acquired 13 international channels, two joint ventures and licenses to use the MGM name and its library. Chellomedia has also made a deal with CBS to launch new branded channels around the World. After this transaction, MGM has sold most of its International television properties.
In Latinamerica Chellomedia acquired 50 percent of MGM Latin America, and the deal also includes a joint venture between MGM and Chellomedia for the Brazilian market. In Europe Chellomedia has also acquired properties in Spain.
Annual revenue from MGM’s international operations in 2011 was about US$ 150 million, producing US$ 20 to $US 30 million in cash flow and US$ 20 million in deferred profit.
With the international acquisition Chellomedia channel portfolio reaches 382 million TV households.
Trackback from your site.