Liberty Media to Buy Dutch Cable Operation
Liberty Media Corp., controlled by billionaire John Malone, agreed to buy France Telecom’s Dutch cable television unit for $733 million, jump-starting its efforts to expand in Europe.
Malone has been prowling for acquisitions as rivals such as France Telecom struggle to cut debt and others such as NTL Inc. have filed for bankruptcy protection. Casema marks his first European takeover since German regulators blocked Liberty Media’s purchase of six Deutsche Telekom networks in February.
Englewood, Colo.-based Liberty Media already controls United Pan-Europe Communications, the Netherlands’ biggest cable TV company and the second-largest in Europe. Buying Casema will make it twice as big as its nearest rival in the Netherlands, according to 2001 figures from Dutch industry group Vecai.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
