Liberty Buying Puerto Rican Cable Op

Liberty Global (NASDAQ:LBTYA), together with investment funds affiliated with Searchlight Capital Partners, has entered into an agreement to acquire 100% of Puerto Rican cable operator Choice Cable TV, the second largest cable and broadband services provider in Puerto Rico. Choice's operations will be combined with Liberty Cablevision of Puerto Rico, and the combined business, which will be 60% owned by Liberty Global and 40% owned by Searchlight, will be the largest cable operator on the island.

As of Aug. 31, Choice's network passed approximately 345,000 homes and served approximately 154,000 revenue generating units. The transaction values Choice at approximately $272.5 million and is expected to close in the first half of 2015.