John Malone's Liberty Global Evaluating First-Round Bids for Networks Unit (Report)
LONDON – John Malone's Liberty Global is evaluating first-round bids for its Chellomedia pay TV networks unit.
Media and entertainment companies and private equity firms submitted first bids, the Financial Times reported, citing people familiar with the process. A group of bidders will be picked for a second round of offers, it said.
The paper said it wasn't immediately clear which companies submitted offers. But Time Warner, Discovery Communications and Scripps Networks Interactive have been among the companies previously cited as likely to at least take a look and consider a bid.
Chellomedia operates 68 channels that analysts have said could fetch close to $1 billion. The company gets most of its revenue from Eastern Europe and Latin America, but doesn't have big-name channel brands.
Liberty Global declined to comment. The possible bidders also declined comment.