Liberty Global, Inc. ("Liberty Global,” "LGI,” or the "Company”)
(NASDAQ: LBTYA) (NASDAQ: LBTYB) (NASDAQ: LBTYK) today announced that,
following regulatory approval earlier this week, it has completed the
previously announced agreement with Unity Media S.C.A. to acquire all of
the issued and outstanding capital stock of Unitymedia GmbH
("Unitymedia”), Germany’s second largest cable operator. The acquisition
involved total consideration of approximately €3.5 billion.
Unitymedia is the largest cable television operator in the German
federal states of North Rhine-Westphalia and Hesse, which are among the
most prosperous and densely populated regions in Germany and Europe. The
cable footprint, passing approximately 8.8 million homes, covers ten of
the twenty largest cities in Germany, including Cologne, Dusseldorf, and
Frankfurt. At September 30, 2009, Unitymedia reported approximately 6.4
million RGUs (as defined by Unitymedia), including 4.5 million analog
and digital basic cable subscribers and 1.9 million new service RGUs
(digital TV Pay, retail broadband internet, wholesale MMA internet, and
telephony).
Gene Musselman, President and Chief Operating Officer of UPC Broadband,
will serve as acting Managing Director of Unitymedia in addition to his
European role. Gene Musselman has over twenty-five years of experience
in the cable industry, primarily in Europe. Parm Sandhu, current Chief
Executive Officer of Unitymedia, has decided to leave the company to
pursue other opportunities.
Mike Fries, President and Chief Executive Officer of Liberty Global
stated, "We are excited about the addition of Unitymedia to our European
operations. Parm Sandhu and the entire management team at Unity have
built a world class company, which will add significant scale and growth
opportunities to our European footprint.”
About Liberty Global, Inc.
Liberty Global is the leading international cable operator offering
advanced video, voice and broadband internet services to connect its
customers to the world of entertainment, communications and information.
As of September 30, 2009, Liberty Global operated state-of-the-art
networks that served approximately 17 million customers across 14
countries principally located in Europe, Japan, Chile, and Australia.
Liberty Global’s operations also include significant programming
businesses such as Chellomedia in Europe.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including our ability to realize the expected benefits from this
acquisition and other information and statements that are not historical
fact. These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ materially from
those expressed or implied by these statements. These risks and
uncertainties include factors detailed from time to time in the
Company's filings with the Securities and Exchange Commission including
our most recently filed Forms 10-K and 10-Q. These forward-looking
statements speak only as of the date of this release. The Company
expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statement contained herein
to reflect any change in the Company's expectations with regard thereto
or any change in events, conditions or circumstances on which any such
statement is based.
For more information, please visit www.lgi.com.