×
You will be redirected back to your article in seconds

Liberty Global to Acquire Polish Cable Operator for $760 Million

Liberty Global extends reach in latest acquisition deal

CANNES, France – John Malone’s international cable company Liberty Global is to acquire Multimedia Polska, the third-largest cable operator in Poland, for PLN 3 billion ($760 million). The deal was conducted through Liberty Global’s subsidiary, UPC Poland, which is already the nation’s biggest cable operator.

The acquisition will be financed through a combination of debt and cash, Liberty Global said. It excludes Multimedia Polska’s non-telecoms businesses – insurance, gas and other energy operations – which will be retained by the shareholders of Multimedia. The transaction is subject to regulatory approval, and is expected to close within the next 12 months.

The combined operations of UPC Poland and Multimedia will have access to more than 4 million homes and businesses. As of June 30, UPC Poland passed 3.1 million homes, or around 20% of total households in Poland, serving 1.4 million unique customers who subscribed to 2.9 million cable subscription services. Multimedia passed 1.6 million homes, serving 832,000 unique customers who subscribed to 1.4 million subscription services. In addition, Multimedia had 54,000 mobile subscribers.

Mike Fries, CEO of Liberty Global, commented, “This acquisition will significantly increase our scale in Poland, where we are already the largest cable operator. It will also enhance our ability to invest in cutting-edge products and services for Polish consumers and businesses that will help drive organic growth across our enlarged footprint of over 4 million premises. Upon closing of the transaction, we will begin upgrading the Multimedia network, after which Multimedia’s customers will be able to enjoy super-fast broadband speeds and our next-generation video service Horizon TV.”

More Biz

  • Gary Ehrlich Named President, General Manager

    Gary Ehrlich Named President, General Manager of Fox Studio Lot

    Gary Ehrlich was named to oversee operations at the Fox Studio Lot, a position of growing importance to Fox Corporation. Fox said Tuesday that it had named Ehrlich, a former executive vice president at Fox Sports, the new president and general manger of its Fox Studio lot in Century City. Fox retained its ownership to [...]

  • WGA Strike Labor Talks

    How the Streaming Revolution Is Making Guild Negotiations Even More Complicated

    It may not be a perfect storm yet, but ominous clouds are gathering. As the winter holidays approach, there’s growing agita across the industry about the potential for substantial labor strife next year. The WGA, DGA and SAG-AFTRA are gearing up for master film and TV contract negotiations with the major studios at a time [...]

  • Star Wars The Mandalorian

    Why Wall Street Is Feeling Bullish as Disney Plus Blasts Off

    Bob Iger has presided over many launches during his 14 years as Disney CEO: a theme park in Shanghai, state-of-the-art cruise ships, “Star Wars”- and “Avatar”-themed immersive attractions and even a cinematic universe requiring billions of dollars of investment in Marvel movies. But nothing in his tenure has drawn the level of scrutiny that has [...]

  • Joseph R. Ianniello, President and Acting

    CBS Sees Q3 Profit Drop on Increased Investment in Programming

    CBS Corp. said third quarter profit dropped around 35% as investments in new series for its linear and digital outlets and costs associated with its pending merger with Viacom Inc. overcame increases in revenue during the period. The New York owner of the CBS television network and the Showtime premium-cable service is expected to merger [...]

  • Young ThugBillboard Hot 100, Day 2,

    Travis Scott Remix Drives Young Thug’s ‘Hot’ to No. 1 on Rolling Stone Top 100

    Driven by a remix featuring Travis Scott, Young Thug’s single “Hot” has roared to the top of the Rolling Stone Top 100 this week. The song racked up more than 20 million audio streams and 3,700 downloads. Also getting a big boost is buzzing artist Arizona Zervas, whose “Roxanne” soared to No. 6 after debuting at [...]

  • Kevin LilesUJA-Federation of New York's Music

    300’s Kevin Liles Joins NY:LON Summit Keynote Roster

    The Music Business Association (Music Biz) and Music Ally today announce that 300 Entertainment cofounder and CEO Kevin Liles will deliver a keynote interview at the fourth annual NY:LON Connect music business summit. The conference takes place January 16 – 17, 2020 at the Dream Downtown Hotel in New York. According to the announcement, Liles [...]

  • Warner Bros. HQ LA

    Small Brush Fire Breaks Out Above Warner Bros. Lot in Burbank

    UPDATED: A small brush fire broke out in the Hollywood Hills above the Warner Bros. studio lot in Burbank, Calif., causing the Warner Bros. lot to evacuate as a precaution, before its forward progress was stopped at around 5 p.m. Saturday. According to the LAFD, fire crews are working on putting out the “still active [...]

More From Our Brands

Access exclusive content