Exhibit 99.1

LIBERTY GLOBAL REPORTS FIRST QUARTER 2011 RESULTS

Fiber Power Bundles Driving Subscriber Additions

Western Europe Leads Financial Performance

Rebased OCF Growth of 7% for Q1

Englewood, Colorado — May 4, 2011: Liberty Global, Inc. (“Liberty Global,” “LGI,” or the “Company”) (NASDAQ: LBTYA, LBTYB and LBTYK), today announces financial and operating results for the first quarter (“Q1”) ended March 31, 2011. Highlights for the quarter compared to the same period for 2010 (unless noted), include:(1)

·                  Organic RGU(2) additions increased 23% to 251,000

·                  Revenue of $2.43 billion, reflecting rebased(3) growth of 4%

·                  Operating Cash Flow (“OCF”)(4) of $1.12 billion, representing rebased growth of 7%

·                  Operating income increased by 90% to $578 million

·                  Adjusted Free Cash Flow (“Adjusted FCF”)(5) of $265 million

Liberty Global President & CEO Mike Fries said, “Our first quarter results demonstrate continued momentum in subscriber growth along with solid financial performance to begin the year. We added over 250,000 subscribers in Q1, led by our Western European operations and, in particular, Unitymedia in Germany, which delivered its fourth consecutive quarter of improved volume growth since we purchased the business. From a product perspective, we are seeing strong growth in our digital cable business with 289,000 subscriber additions during the quarter, and we are aggressively leveraging our investment in next-generation broadband services across a 3.0-ready footprint that now exceeds 20 million homes passed in Europe and Chile. Our ‘Fiber Power’ bundles offer compelling value and generally include the fastest broadband speeds available in our markets.”

“These healthy subscriber gains were the principal driver of 4% rebased revenue growth in the quarter to $2.4 billion. Operational efficiencies helped generate even faster rebased OCF growth of 7% to $1.1 billion in Q1 and our OCF margin increased 130 basis points to 46.1%. Once again, this performance was driven by our Western European operations that delivered 8% rebased growth in the quarter, led by Germany which posted rebased OCF growth of 14%. Meanwhile, we generated Adjusted Free Cash Flow of $265 million for LGI overall, which puts us on track to achieve our full-year objective of mid-teens Adjusted FCF growth, and we are confirming all of our other 2011 guidance targets today.”

“We ended Q1 with $4.0 billion of total liquidity,(6) including $2.8 billion in cash and cash equivalents. In addition, we had $1.6 billion in restricted cash associated with the pending acquisition of Kabel BW Erste Beteiligungs GmbH (“KBW”), the third largest cable operator in Germany. Given the strong performance of Unitymedia over the last several quarters, we are excited about adding further scale to our operations in one of Europe’s fastest growing cable markets. In terms of our capital return strategy, we repurchased approximately $300 million of our stock year-to-date through April, and we remain focused on repurchasing $1 billion of equity securities in 2011.”

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Subscriber Statistics

At March 31, 2011, we provided our 17.6 million customers a total of 28.0 million services, consisting of 16.7 million video, 6.6 million broadband internet and 4.7 million telephony subscriptions. As compared to an aggregate 27.1 million RGUs at March 31, 2010, we have added over 900,000 organic RGUs in the last twelve months. Our compelling triple-play offers have fueled this expansion, as we have increased our triple-play customer base by more than 500,000 or 15% over this period. This has resulted in 22% of our customer base now subscribing to three products.

For the quarter ended March 31, 2011, we added 251,000 RGUs, representing a 23% increase over the prior year period. On a regional basis, our Western European(7) operations realized a 15% year-over-year increase in quarterly additions and accounted for 201,000 or 80% of our consolidated RGU additions. Of particular note, our German operation, Unitymedia, generated 109,000 subscriber additions in Q1, as it benefitted from a successful “DSL switcher” campaign and growing acceptance of its HD/DVR product offerings. As a result, Q1 2011 was its best quarter in terms of subscriber additions since our acquisition of the company, and the second highest in Unitymedia’s history. In addition, our UPC Broadband Division’s Central and Eastern European (“CEE”) and direct-to-home satellite (“UPC DTH”) operating segments delivered a combined year-over-year subscriber gain of 46% to 32,000 RGU additions, while our Chilean operation (“VTR Group”) posted a nearly five-fold increase to 24,000 RGU additions in the quarter.

During Q1 2011, we added 190,000 broadband internet and 155,000 telephony subscribers, representing year-over-year increases of 13% and 2%, respectively, as compared to our Q1 2010 performance. Beginning the year with “3.0” broadband services widely available across our European footprint, we have been able to leverage our speed advantage and attractively bundle our product offerings. For example, our Irish operation, benefitting from new “Fiber Power” bundles in Q1, achieved record subscriber growth in the quarter. Additionally, our Dutch operation delivered combined broadband internet and telephony subscriber additions of 51,000 in the first quarter, capitalizing on demand for its all-in “Fiber Power” bundles.

Our video losses decreased by 19% to 93,000 RGUs for the quarter ended March 31, 2011, as compared to 115,000 for the corresponding period of 2010, driven in part by improvement at UPC DTH. Along with the benefit of fewer analog losses, total digital video additions of 296,000 in Q1 2011, represented a 5% increase above the prior year first quarter. Digital cable penetrations continue to grow across our markets and we are now at 46% for LGI overall, up from 38% at March 31, 2010. Demand remains strong for both HD and DVR functionality, as now 45% of our digital cable subscribers have opted for one or both of these services. With video growth trending in the right direction, competitive levers provided by our “3.0” portfolio, and a continued growth trajectory in Western Europe, we are well-positioned to deliver strong subscriber growth for the remainder of the year.

Revenue

For the three months ended March 31, 2011, our consolidated revenue increased 12% to $2.43 billion, as compared to $2.18 billion for the three months ended March 31, 2010. The revenue increase was driven largely by the addition of Unitymedia for the full quarter in 2011, as compared to approximately two months in Q1 2010, by subscription and non-subscription organic revenue growth and, to a lesser extent, by foreign currency movements (“FX”). Adjusting for both FX and acquisitions, we achieved 4% rebased revenue growth for the three months ended March 31, 2011, as compared to the corresponding period in 2010. Of our three products, broadband internet was our fastest growing product, delivering over 6% rebased revenue growth in the first quarter, as compared to the prior year period.

With respect to our first quarter rebased revenue growth, our European operations achieved year-over-year growth of 4%, of which our Western European and CEE businesses accounted for rebased growth of 5% and 2%, respectively. Of note, our Western European revenue performance was led by our Irish, German and Dutch operations, which delivered year-over-year rebased growth of 12%, 8%, and 6%, respectively. In addition, our Swiss operation, building upon momentum from the second half of 2010, delivered its third consecutive quarter of improved rebased revenue growth. Also, rebounding from the Q1 2010 earthquake and capitalizing on demand

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for multi-play product offerings, our Chilean business generated rebased revenue growth of 9% in Q1, its best quarterly result in two years. Finally, our Australian operation (“Austar”), reported flat year-over-year rebased revenue growth, due in part to the impact of natural disasters during the quarter.

For the first quarter of 2011, we generated consolidated ARPU per customer(8) of $38.73, reflecting a year-over-year increase of 2% on an FX-adjusted basis. We added approximately 635,000 bundled customers in the last twelve months, which has been a catalyst for our continued ARPU per customer increases. Excluding Unitymedia from both Q1 periods, ARPU per customer of our consolidated operations increased 6% on an FX-adjusted basis to $44.77 and the ARPU per customer of our consolidated European businesses realized FX-neutralized growth of 6%. Additionally, our Chilean operation posted 7% year-over-year growth, while our Australian operation reported a 1% year-over-year decline in ARPU per customer, as both reflect, in part, the impact of natural disasters.

Operating Cash Flow

For the three months ended March 31, 2011, our OCF increased 15% to $1.12 billion, as compared to $975 million for the three months ended March 31, 2010. In terms of rebased growth, we delivered 7% for the first quarter of 2011 and, similar to the drivers of our revenue growth, our rebased OCF performance was powered by our Western European and Chilean operations. More specifically, our Western European operations generated rebased OCF growth of 8%, led by our operations in Ireland and Germany, which recorded rebased OCF growth of 22% and 14%, respectively. In addition, our Chilean operation delivered rebased OCF growth of 12%. Partially offsetting our strong first quarter growth in Western Europe and Chile, our CEE and Australian operations posted year-over-year rebased OCF declines of 3% and 1%, respectively.

For the first quarter, we achieved a consolidated OCF margin(9) of 46.1%, as compared to 44.8% for the three months ended March 31, 2010. This margin improvement resulted from year-over-year declines, as measured as a percentage of revenue, in both operating expenses and selling, general and administrative costs. From a regional standpoint, our European and Chilean operations each generated year-over-year OCF margin improvement of approximately 90 basis points, while our Australian operation experienced a 30 basis point decrease. One particular highlight in the quarter was the improvement in our German OCF margin, which increased by 440 basis points to 59.6% in Q1 2011. This improvement was largely due to cost containment efforts, as we successfully integrate Unitymedia into our pan-European operations.

Operating Income

For the three months ended March 31, 2011, our reported operating income increased 90% to $578 million, as compared to $304 million for the three months ended March 31, 2010. This increase resulted largely from a combination of higher OCF and a pre-tax gain of $115 million in connection with the sale of spectrum licenses at Austar during the first quarter of 2011.

Net Earnings Attributable to LGI Stockholders

We reported net earnings attributable to LGI stockholders (“Net Earnings”) of $342 million or $1.22 per diluted share for the three months ended March 31, 2011, as compared to Net Earnings of $737 million or $2.75 per diluted share for the three months ended March 31, 2010. The year-over-year decline in earnings was driven primarily by the $1.4 billion gain that we realized during the first quarter of 2010, relating to the disposition of our interest in J:COM. Our earnings from continuing operations were $424 million for the three months ended March 31, 2011, as compared to a loss from continuing operations of $633 million for the three months ended March 31, 2010. This substantial improvement in 2011 reflects higher operating income and foreign currency transaction gains, as well as lower realized and unrealized losses on derivative instruments.

Our diluted per share calculations utilized weighted average common shares of 289 million and 268 million for the three months ended March 31, 2011 and 2010, respectively.

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Capital Expenditures and Free Cash Flow

For the quarter ended March 31, 2011, we reported capital expenditures of $510 million or 21% of revenue, which compares to capital expenditures of $405 million or 19% of revenue for the respective 2010 period. Of the year-over-year increase, Unitymedia and Telenet together accounted for $77 million or 73% of the U.S. dollar increase. Both operations reported capital expenditures at 24% of revenue in Q1 2011, as compared to 16% for Unitymedia and 17% for Telenet in Q1 2010. Excluding Unitymedia and Telenet in both periods, our capital expenditures as a percentage of revenue would be relatively flat with the prior year period. With respect to our overall level of capital expenditures, approximately 57% was related to customer premise equipment and scalable infrastructure, 27% was related to line extensions, upgrades and rebuilds, and the remaining 16% was related to support capital and other.

In terms of FCF, we generated $249 million in FCF for the three months ended March 31, 2011, as compared to $302 million for the three months ended March 31, 2010. On an adjusted basis, we achieved Adjusted FCF of $265 million for the first quarter of 2011, as compared to $297 million for the same period in 2010. The decrease in Adjusted FCF between the two periods resulted largely from a combination of higher capital expenditures as noted above and higher net cash interest and interest-related derivative outlays.

Liquidity and Leverage

At March 31, 2011, we had approximately $4.0 billion of consolidated liquidity, consisting of $2.8 billion of our cash and cash equivalents and $1.2 billion in borrowing capacity, as represented by the maximum undrawn commitment under each of our credit facilities.(10) Of our consolidated cash position, we held $1.2 billion at our parent and non-operating subsidiaries and $1.6 billion at our operating subsidiaries. These amounts do not include $1.6 billion in short-term restricted cash held in escrow in connection with the pending acquisition of KBW (the “KBW Escrowed Cash”). Our cash position at March 31, 2011 decreased by approximately $1.1 billion from December 31, 2010. This decline stemmed primarily from the KBW Escrowed Cash and cash utilized for stock buybacks, partially offset by a combination of net borrowings, free cash flow generation, the sale of our Australian spectrum and the FX impact associated with a weakening U.S. dollar.

We had total debt(11) of $23.9 billion at March 31, 2011, which increased by approximately $1.4 billion during the quarter. This increase in total debt is primarily the result of the translation impact associated with our euro-denominated borrowings, as the U.S. dollar weakened by approximately 6% against the euro during the first quarter. Net borrowings of $358 million also contributed to this increase.

During Q1 2011, we completed two debt issuances maturing in 2020 at our UPC credit group and one debt issuance maturing in 2021 at Telenet. These new borrowings enabled us to refinance approximately $2.5 billion of debt maturing in 2013 to 2017. Subsequent to the first quarter, holders of our UnitedGlobalCom, Inc. (“UGC”) 1.75% convertible notes converted them into approximately 14.6 million LGI common shares. As a result of our refinancing activity and the conversion of the UGC convertible notes, approximately 85% of our consolidated debt is now due in 2016 and beyond. Additionally, on this same basis, we estimate that our fully-swapped borrowing cost(12) was approximately 7.9% at March 31, 2011.

With respect to our consolidated leverage ratios, we ended Q1 with gross and net debt (including the KBW Escrowed Cash) ratios(13) of approximately 5.3x and 4.3x, respectively. After excluding the $1.1 billion loan that is backed by the shares we hold in Sumitomo Corporation and adjusting for the conversion of the UGC convertible notes, our gross and net debt ratios decline to 4.9x and 3.9x, respectively.

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About Liberty Global

Liberty Global is the leading international cable operator offering advanced video, voice and broadband internet services to connect its customers to the world of entertainment, communications and information. As of March 31, 2011, Liberty Global operated state-of-the-art networks serving 18 million customers across 14 countries principally located in Europe, Chile and Australia. Liberty Global’s operations also include significant programming businesses such as Chellomedia in Europe.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including our expectations with respect to our 2011 outlook and future growth prospects, including our continued ability to increase our organic RGU additions, further grow the penetration of our advanced services, increase our ARPU per customer, improve our OCF margins and generate Adjusted Free Cash Flow growth; our assessment of our liquidity and access to capital markets, including our borrowing availability, potential uses of our excess capital, including for acquisitions and continued stock buybacks, and our ability to continue to do opportunistic refinancings and debt maturity extensions; our expectations with respect to the timing and impact of our expanded roll-out of advanced products and services, including our next-generation broadband services and advanced digital video features; the manner, timing and amount of purchases that we may make under the Company’s repurchase program; our insight and expectations regarding competitive and economic factors in our markets, the availability of accretive M&A opportunities and the impact of our M&A activity on our operations and financial performance and other information and statements that are not historical fact. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include the continued use by subscribers and potential subscribers of the Company’s services and willingness to upgrade to our more advanced offerings, our ability to meet challenges from competition and economic factors, the continued growth in services for digital television at a reasonable cost, the effects of changes in technology and regulation, the trading prices of our equity securities, our ability to achieve expected operational efficiencies and economies of scale, our ability to generate expected revenue and operating cash flow, control capital expenditures as measured by percentage of revenue, achieve assumed margins and control the phasing of our FCF, our ability to access cash of our subsidiaries and the impact of our future financial performance, or market conditions generally, on the availability, terms and deployment of capital, as well as other factors detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”) including our most recently filed Forms 10-K/A and 10-Q. These forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

For more information, please visit www.lgi.com or contact:

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Liberty Global, Inc.

Condensed Consolidated Balance Sheets

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Liberty Global, Inc.

Condensed Consolidated Statements of Operations

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Liberty Global, Inc.

Condensed Consolidated Statements of Cash Flows

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Revenue and Operating Cash Flow

In the following tables, we present revenue and operating cash flow by reportable segment of our continuing operations for the three months ended March 31, 2011, as compared to the corresponding prior year period. All of the reportable segments derive their revenue primarily from broadband communications and/or direct-to-home satellite (“DTH”) services, including video, broadband internet and telephony services. Most segments also provide business-to-business services. At March 31, 2011, our operating segments in the UPC Broadband Division provided services in 10 European countries. Our Other Western Europe segment includes our broadband communications operating segments in Austria and Ireland. Our Central and Eastern Europe segment includes our broadband communications operating segments in the Czech Republic, Hungary, Poland, Romania and Slovakia. Telenet provides broadband communications operations in Belgium and Austar provides DTH services in Australia. In Chile, the VTR Group includes VTR, which provides broadband communications services and VTR Wireless, which is undertaking the launch of mobile products through a combination of its own wireless network and mobile virtual network operator arrangements. The UPC Broadband Division’s central and other category includes (i) UPC DTH, (ii) costs associated with certain centralized functions, including billing systems, network operations, technology, marketing, facilities, finance and other administrative functions and (iii) intersegment eliminations within the UPC Broadband Division. Our corporate and other category includes (i) less significant consolidated operating segments that provide (a) broadband communications services in Puerto Rico and (b) video programming and other services in Europe and Argentina and (ii) our corporate category. Intersegment eliminations primarily represent the elimination of intercompany transactions between our broadband communications and programming operations, primarily in Europe.

Beginning in the first quarter of 2011, UPC DTH, which is a Luxembourg-based organization that provides DTH services to customers in the Czech Republic, Hungary, Romania and Slovakia, is reported within the UPC Broadband Division’s central and other category. Prior to this change, the UPC DTH operating results were reported within the UPC Broadband Division’s Central and Eastern Europe segment. In addition, certain backbone costs incurred by the UPC Broadband Division were previously included in the operating expenses of the UPC Broadband Division’s central and other category. Beginning in the first quarter of 2011, these backbone costs are included within the operating expenses of the applicable UPC Broadband Division operating segment based on usage. Segment information for all periods presented has been restated to reflect the changes described above and to present Unitymedia’s arena segment as a discontinued operation.

For purposes of calculating rebased growth rates on a comparable basis for all businesses that we owned during 2011, we have adjusted our historical revenue and OCF for the three months ended March 31, 2010 to (i) include the pre-acquisition revenue and OCF of certain entities acquired during 2010 and 2011 in our rebased amounts for the three months ended March 31, 2010 to the same extent that the revenue and OCF of such entities are included in our results for the three months ended March 31, 2011, and (ii) reflect the translation of our rebased amounts for the three months ended March 31, 2010 at the applicable average foreign currency exchange rates that were used to translate our results for the three months ended March 31, 2011. In addition, we have reduced our total OCF, as well as the OCF of Central and Eastern Europe and Total UPC Broadband Division, for the three months ended March 31, 2010 to rebase for the Hungarian Tax that was imposed during the fourth quarter of 2010. The 2010 OCF reduction was computed as if the Hungarian Tax had been imposed at the beginning of 2010. As a result, our rebased OCF for the three months ended March 31, 2010 includes a HUF 726 million ($3.6 million) reduction for the Hungarian Tax, as compared to a HUF 725 million ($3.6 million) reduction to OCF that is included in our actual results for the three months ended March 31, 2011. The acquired entities that have been included in whole or in part in the determination of our rebased revenue and OCF for the three months ended March 31, 2010 include Unitymedia and three small acquisitions in Europe. We have reflected the revenue and OCF of these acquired entities in our 2010 rebased amounts based on what we believe to be the most reliable information that is currently available to us (generally pre-acquisition financial statements), as adjusted for the estimated effects of (i) any significant differences between GAAP and local generally accepted accounting principles, (ii) any significant effects of post-acquisition purchase accounting adjustments, (iii) any significant differences between our accounting policies and those of the acquired entities and (iv) other items we deem appropriate. We do not adjust pre-acquisition periods to eliminate non-recurring items or to give retroactive effect to any changes in estimates that might be implemented during post-acquisition periods. As we did not own or operate the acquired businesses during the pre-acquisition periods, no assurance can be given that we have identified all adjustments necessary to present the revenue and OCF of these entities on a basis that is comparable to the corresponding post-acquisition amounts that are included in our historical results or that the pre-acquisition financial statements we have relied upon do not contain undetected errors. The adjustments reflected in our rebased amounts have not been prepared with a view towards complying with Article 11 of the SEC’s Regulation S-X. In addition, the rebased growth percentages are not necessarily indicative of the revenue and OCF that would have occurred if these transactions had occurred on the dates assumed for purposes of calculating our rebased amounts or the revenue and OCF that will occur in the future. The rebased growth percentages have been presented as a basis for assessing growth rates on a comparable basis, and are not presented as a measure of our pro forma financial performance. Therefore, we believe our rebased data is not a non-GAAP financial measure as contemplated by Regulation G or Item 10 of Regulation S-K.

In each case, the following tables present (i) the amounts reported by each of our reportable segments for the comparative periods, (ii) the U.S. dollar change and percentage change from period to period and (iii) the percentage change from period to period on a rebased basis.

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Revenue

Operating Cash Flow

N.M — Not Meaningful

(1)          In addition to rebasing for currency exchange rates and acquisitions, we have also rebased Q1 2010 results for the Hungarian Tax that was imposed beginning in the fourth quarter of 2010. This impacts the line items of Central and Eastern Europe, Total UPC Broadband Division and Total.  Please see page 10 for supplemental information.

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Revenue and Operating Cash Flow for 2010

The following tables provide revenue and operating cash flow for the indicated 2010 periods. These amounts have been restated to reflect the Q1 2011 changes made to our segment presentation within the UPC Broadband Division, as further described on page 10.

Revenue

Operating Cash Flow

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Operating Cash Flow Definition and Reconciliation

Operating cash flow is not a GAAP measure. Operating cash flow is the primary measure used by our chief operating decision maker to evaluate segment operating performance. Operating cash flow is also a key factor that is used by our internal decision makers to (i) determine how to allocate resources to segments and (ii) evaluate the effectiveness of our management for purposes of annual and other incentive compensation plans. As we use the term, operating cash flow is defined as revenue less operating and selling, general and administrative expenses (excluding stock-based compensation, depreciation and amortization, provisions for litigation, and impairment, restructuring and other operating charges or credits). Other operating charges or credits include (i) gains and losses on the disposition of long-lived assets, (ii) direct acquisition costs, such as third-party due diligence, legal and advisory costs, and (iii) other acquisition-related items, such as gains and losses on the settlement of contingent consideration. Our internal decision makers believe operating cash flow is a meaningful measure and is superior to other available GAAP measures because it represents a transparent view of our recurring operating performance that is unaffected by our capital structure and allows management to (i) readily view operating trends, (ii) perform analytical comparisons and benchmarking between segments and (iii) identify strategies to improve operating performance in the different countries in which we operate. We believe our operating cash flow measure is useful to investors because it is one of the bases for comparing our performance with the performance of other companies in the same or similar industries, although our measure may not be directly comparable to similar measures used by other public companies. Operating cash flow should be viewed as a measure of operating performance that is a supplement to, and not a substitute for, operating income, net earnings (loss), cash flow from operating activities and other GAAP measures of income or cash flows. A reconciliation of total segment operating cash flow to our operating income is presented below.

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Summary of Debt, Capital Lease Obligations and Cash and Cash Equivalents

The following table(2) details the U.S. dollar equivalent balances of our third-party consolidated debt, capital lease obligations and cash and cash equivalents at March 31, 2011:

Capital Expenditures

The following table highlights our capital expenditures per category for the indicated periods: