June 3, 1999 |
United Pan-Europe Communications, Europe's No. 2 cable television company, agreed to buy @Entertainment Inc., owner of Poland's largest cable network, for $1.15 billion, extending its push into the Eastern European pay-TV market. UPC, 62% owned by Denver-based United International Holdings and 8% owned by Microsoft Corp., will pay $19 for each @Entertainment share, a 52% premium to Tuesday's close of $12.50. The price includes $400 million in assumed debt. U.S.
May 21, 2003 |
Liberty Media Corp. said it might spin off its non-U.S. investments into a new company to help finance acquisitions. Liberty's overseas investments include a 44% stake in Jupiter Telecommunications Co., Japan's largest cable television provider. Liberty's UnitedGlobalCom Inc. unit will own a 66% stake in Dutch cable provider United Pan-Europe Communications after a planned bankruptcy reorganization of United Pan-Europe.
August 2, 2002 |
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.
October 10, 2001 |
Liberty Media Corp. offered to buy as much as $1.5 billion worth of United Pan-Europe Communications' bonds in a move that analysts said is likely to give it control of Europe's second-biggest cable company for about $300 million. Englewood, Colo.-based Liberty, which has an agreement to take control of UPC's parent company, is unlikely to pay more than $300 million because the bonds are trading at less than 20% of face value, said Bala Ramakrishnan, high-yield analyst at Morgan Stanley & Co.
May 30, 2001 |
Liberty Media Group, the cable-television company run by John Malone, cut the price it will pay for UnitedGlobalCom Inc. shares by as much as 37% as the companies seek to form the largest cable TV provider. This is the second time the companies have changed terms of the merger, which was valued at $4.02 billion when first announced June 26. Since then, UnitedGlobalCom shares have fallen 73%. Bondholders rejected original terms of the agreement, leading to a February revision.
March 11, 2000 |
United Pan-Europe Communications, Europe's second-largest cable-television company, has agreed to buy the 77% of SBS Broadcasting it doesn't already own for $2.8 billion in cash and stock. UPC offered $40 cash and 0.19048 of a UPC share for each share of SBS, which owns TV and radio stations in 10 European countries. Harry Evans Sloan, a Los Angeles native who founded SBS after selling New World Entertainment to financier Ronald Perelman, will join UPC's supervisory board.