Liberty completes Choice takeover

5 Jun 2015

Liberty Puerto Rico has become the island’s sole cable network operator upon completing the takeover of the market’s only other cableco, Choice Cable, on 3 June 2015 for approximately USD273 million, in a deal which was first agreed in December 2014. Choice’s network passes approximately 345,000 homes in 31 municipalities in parts of southern, western and north-western Puerto Rico, and serves around 154,000 revenue generating units (RGUs) with annual revenue of approximately USD85 million. The resultant nationwide multi-service cable group will see Liberty operate a network reaching over 80% of Puerto Rican homes, with around 750,000 cable TV, broadband internet and fixed telephony RGUs, generating over USD380 million of annual revenue. Liberty Puerto Rico, 60%-owned by Liberty Global and 40% by Searchlight Capital Partners, had 220,000 TV, 214,000 broadband and 167,000 cable telephony RGUs at the end of March 2015.

Puerto Rico, Choice Cable, Liberty Puerto Rico