Scripps, Turner and Discovery are among those bidding for cable operator's content division, according to FT
Liberty Global’s Chellomedia content group is weighing bids from prospective buyers including Scripps Networks Interactive, Time Warner Inc.’s Turner Broadcasting System and Discovery Communications, the Financial Times reported.
Variety previously reported that Scripps is among those in the running. John Malone’s Liberty Global, the largest international cable operator, is expected to soon select a second round of bidders — which includes private-equity firms as well — that would value Chellomedia at around $1 billion, according to FT, citing anonymous sources.
The media companies declined to comment; Liberty Global did not immediately respond to a request for comment.
Chellomedia, Liberty Global’s international content division, includes 68 channels distribbed in 13 countries across Europe, Latin America and Asia. The company put the division on the block in May. Previously, Liberty Global topper Mike Fries said eight entities were bidding for Chellomedia.
Morgan Stanley is advising Liberty Global on the Chellomedia transaction.