Liberty unit to purchase Noos

Buy expands UnitedGlobalCom presence in digital market

Liberty Media’s cabler UnitedGlobalCom received European Union approval to buy French cable operator Noos for e660 million ($791 million) on Tuesday.

UnitedGlobalCom will buy the business from Paris-based water utility Suez to expand its presence in the digital market. Suez, the world’s second-largest water company, will own 20% of UnitedGlobalCom’s French holding company, Mediareseaux.

The combined company will have about 1.8 million subscribers and revenue of about $477 million based on results for fiscal 2003, Denver-based UnitedGlobalCom said in March.

The purchase will add to the company’s presence in the European high-speed Internet market, UnitedGlobalCom CEO Mike Fries said at the time.

Liberty, controlled by John Malone, intends to spin off its 55% stake in UnitedGlobalCom to form Liberty Media Intl. The new company will also own cable companies in Japan and Latin America.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety