Company: LBTYK
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001570585-25-000114
Chunk: 14

Company: Liberty Global Ltd.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 14
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Programming and other direct costs of services include programming and copyright costs, interconnect and access costs, costs of mobile handsets and other devices and other direct costs related to our operations, including costs associated with our transitional service agreements and certain costs related to the development of externally marketed software. Programming and copyright costs represent a significant portion of our operating costs and are subject to rise in future periods due to various factors, including (i) higher costs associated with the expansion of our digital video content, including rights associated with ancillary product offerings and rights that provide for the broadcast of live sporting events, and (ii) rate increases.

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The details of our programming and other direct costs of services are as follows: 

Three months endedMarch 31,Increase (decrease)Organic increase (decrease) 20252024$%$% in millions, except percentagesTelenet$202.1 $198.6 $3.5 1.8 $9.6 4.8 VM Ireland34.1 37.4 (3.3)(8.8)(2.3)(6.1)Total consolidated reportable segments236.2 236.0 0.2 0.1 Plus: all other category180.7 178.5 2.2 1.2 Less: elimination of intercompany consolidated programming and other direct costs of services(13.5)(20.0)6.5 N.M.Total consolidated$403.4 $394.5 $8.9 2.3 $(33.5)(7.6)%

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N.M. — Not Meaningful.

Our programming and other direct costs of services increased $8.9 million or 2.3% during the three months ended March 31, 2025, as compared to the corresponding period in 2024. This increase includes an increase of $43.9 million attributable to the impact of the Formula E Acquisition. On an organic basis, our programming and other direct costs of services decreased $33.5 million or 7.6%. This decrease includes the following factors:

•A decrease in costs of $22.9 million related to lower sales of CPE to the VMO2 JV;

•A decrease in costs of $18.1 million related to lower sales of CPE to the VodafoneZiggo JV;

•An increase in programming and copyright costs of $13.1 million or