Liberty Drops German Cable Deal

Author:
Publish date:
Updated on

Liberty Media Corp. dropped its pursuit of six German cable-television
systems when executives realized they couldn't close the deal on their terms,
the company's chief executive reportedly said Wednesday.

German regulators were concerned that the proposed purchase from Deutsche
Telekom A.G. would give Liberty too much control over the market.

Liberty also wanted to acquire TeleColumbus, an operator of connections into
viewers' homes.

U.S. cable entrepreneur John Malone, who controls Liberty, was unwilling to
change the proposal and the deal fell apart.

Liberty CEO Robert Bennett said German regulators also wanted Liberty to
invest more in telephony.

'Put all those together, and those [terms] were not the circumstances under
which we were willing to pursue the business,' Bennett said. 'Therefore, we did
not appeal the decision.'

Related