Independent News & Media (INM) is to sell its 50% stake in its Irish cable operation, Princes Holdings, to Liberty Media International for an undisclosed sum.
INM had already confirmed that it did not intend to hold its investment in Princes Holdings – which trades under the brand name Chorus – for the long-term, as it was no longer core to its operations.
Following completion of the sale, Chorus will be fully owned by Liberty Media International, which owns a large array of cable TV and programming interests around the world, including a 20% stake in UK cable operator Telewest Communications.
