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Other Matters
9 Months Ended
Sep. 30, 2013
Other Matters [Abstract]  
Other Matters [Text Block]
Other Matters
On October 28, 2013, the Company and certain of its subsidiaries reached a definitive agreement to acquire substantially all of Chellomedia, the international content division of Liberty Global plc (“Liberty”) for €750 million (approximately $1.035 billion USD) (the “Acquisition”). The Acquisition will provide the Company with an extensive array of television channels that are distributed in 138 countries.
The purchase price is subject to adjustments for working capital, cash and indebtedness acquired. In connection with the Acquisition, the Company has obtained a bank commitment letter from Bank of America, N.A. agreeing to provide financing of up to $600 million to fund the portion of the purchase price that is not being funded with cash on hand.
The transaction is expected to close in the first quarter of 2014, subject to closing conditions customary for a transaction of this nature.