Liberty Media Expands European Cable Profile
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Liberty Media Corp. said Tuesday it would buy six cable television firms from Deutsche Telekom for 5.5 billion euros ($4.94 billion), creating a potential powerhouse in the European cable market.
The deal, which gives Liberty 20 million cable subscribers, makes it possible for Liberty Chairman John Malone to build a cable industry in the image of his erstwhile U.S. cable giant Tele-Communications Corp. in a European market.
A source close to the deal said Deutsche Telekom and Liberty Media agreed on exit clauses in the deal that allow either side to opt out if conditions change.
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