Liberty Global (Nasdaq: LBTYA) said Friday that it closed its $585 million acquisition of San Juan Cable LLC, which operates the OneLink Communications cable system in Puerto Rico.
Liberty, which owns the Liberty Cablevision system in Puerto Rico, is now the biggest cable operator on the island. The company teamed up with investment firm Searchlight Capital Partners on the deal.
Searchlight will own a 40 percent stake in Leo Cable, a new entity that Liberty said will hold its cable systems in Puerto Rico. Leo Cable will pass about 700,000 homes in Puerto Rico and count nearly 500,000 revenue generating units, the company added.
Liberty Global recently deployed the Horizon TV advanced digital video platform on its UPC Netherlands system and said it would deploy the product on its systems in Switzerland, Germany and Ireland within three to six months. The company hasn't yet announced plans to deploy Horizon in Puerto Rico.
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