Liberty Global Completes Unitymedia Buy

Liberty Global completes acquisition of Unitymedia, second largest cable operator in Germany

January 29, 2010

1 Min Read

ENGLEWOOD, Colo.--(BUSINESS WIRE)--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.”

Liberty Global Inc. (Nasdaq: LBTY)

Unitymedia GmbH

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