Liberty Global Inc has put its Chellomedia television-channel business up for sale, in a move that it hopes could net between $800 million and $1 billion, reports the WSJ.

Chellomedia is Liberty Global’s content division, producing and distributing TV channels in a variety of genres including sports, movies and cooking to roughly 390 million households world-wide. Liberty Global is in talks with a handful of potential bidders, according to reports. It is possible the talks could lead to a partial or full sale, or a joint venture.

Chellomedia’s reach in Eastern Europe, Latin America and other parts of the world with strong growth potential is attractive. The company owns 48 of its 68 channels and has joint ventures for the remainder.

Liberty Global seems to have to decided to unload the business as it accounts for a small portion of the company’s roughly $10 billion in annual revenue derived mainly from cable-networks where it wants to concentrate its fire.

Chellomedia’s revenue last year was $514 million, from sales to Liberty Global operators as well as third parties.

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