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By BLOOMBERG NEWS | December 16, 2000
WASHINGTON - AT&T Corp., the largest U.S. cable television company, will spin off Liberty Media Corp. and other TV programming units to satisfy regulatory conditions for its $44 billion purchase of MediaOne Group Inc. AT&T, which has three options to meet U.S. limits on cable ownership, said the spinoff of the unit run by cable pioneer John Malone depends on a favorable tax ruling. If the company is unable to complete the transactions by a May deadline, AT&T will sell or insulate itself from its 25.5 percent stake in Time Warner Entertainment Co. LP, which AT&T tried to sell to majority owner Time Warner Inc., a second option for satisfying the government.
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BUSINESS
By Leon Lazaroff and Leon Lazaroff,CHICAGO TRIBUNE | July 21, 2005
NEW YORK - Owning Liberty Media Corp. has always been about owning a piece of John C. Malone. As a leading cable TV mogul, the cunning and charismatic Malone can usually be expected to do something daring - and profitable. But for the past four years, Liberty Media's chairman, chief executive and all-around guru has been unable to move his stock much above the low double-digits. It touched $25 before the Internet bubble burst in March 2000. So today, Malone will try to do what many media owners are trying to do these days: "unlock" value from his holdings, by spinning off Liberty's 50 percent stake in Discovery Communications Inc., the Silver Spring, Md. company that is one of the world's most treasured cable-TV properties.
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BUSINESS
By BLOOMBERG BUSINESS NEWS | December 5, 1996
DENVER -- Tele-Communications Inc. said yesterday it may spin off its international and programming operations to shareholders in an effort to boost the value of its stock.The nation's largest cable company said it may spin off its remaining 82 percent stake in Tele-Communications International Inc., its overseas cable and phone operations, to shareholders of Tele- Communications Inc. It may also spin off its programming arm, Liberty Media, to holders of Liberty Media stock, which is now a so-called tracking stock.
BUSINESS
By BLOOMBERG NEWS | December 16, 2000
WASHINGTON - AT&T Corp., the largest U.S. cable television company, will spin off Liberty Media Corp. and other TV programming units to satisfy regulatory conditions for its $44 billion purchase of MediaOne Group Inc. AT&T, which has three options to meet U.S. limits on cable ownership, said the spinoff of the unit run by cable pioneer John Malone depends on a favorable tax ruling. If the company is unable to complete the transactions by a May deadline, AT&T will sell or insulate itself from its 25.5 percent stake in Time Warner Entertainment Co. LP, which AT&T tried to sell to majority owner Time Warner Inc., a second option for satisfying the government.
BUSINESS
May 21, 1993
Lerner raises stake in MBNAAlfred Lerner, chairman of MBNA Corp., raised his stake in the Newark, Del., bank holding company to 12.1 percent from 11.1 percent of common shares outstanding.Mr. Lerner, who also serves as chairman of MNC Financial Inc., purchased 1 million shares at $22.875 per share through a brokerage transaction Wednesday, according to a filing with the Securities and Exchange Commission. The chairman now holds 12 million shares in MBNA, which owns MBNA America Bank N.A., the country's third-largest lender through credit cards.
BUSINESS
By BLOOMBERG NEWS | March 17, 1998
WASHINGTON -- BET Holdings Inc. founder Robert Johnson and Liberty Media Corp. agreed yesterday to pay $378 million, or $63 a share, for the part of the cable-television company they don't already own, raising an initial bid by almost a third.The parent of Black Entertainment Television will become a privately held company controlled by Johnson and Liberty, who already had more than 90 percent voting control. Johnson also is BET's chairman and chief executive.Black Entertainment Television is the largest remaining independent cable channel, reaching 50 million viewers.
BUSINESS
By Leon Lazaroff and Leon Lazaroff,CHICAGO TRIBUNE | July 21, 2005
NEW YORK - Owning Liberty Media Corp. has always been about owning a piece of John C. Malone. As a leading cable TV mogul, the cunning and charismatic Malone can usually be expected to do something daring - and profitable. But for the past four years, Liberty Media's chairman, chief executive and all-around guru has been unable to move his stock much above the low double-digits. It touched $25 before the Internet bubble burst in March 2000. So today, Malone will try to do what many media owners are trying to do these days: "unlock" value from his holdings, by spinning off Liberty's 50 percent stake in Discovery Communications Inc., the Silver Spring, Md. company that is one of the world's most treasured cable-TV properties.
BUSINESS
By New York Times News Service | July 22, 1994
In a deal aimed at putting the cable television magnate John Malone on its team, Comcast Corp. has made Liberty Media a partner in its takeover bid for QVC Inc., the cable television home shopping company.The two companies said yesterday that they would offer $44 a share in cash for QVC's outstanding shares.Comcast, on its own, had offered $44 a share last week. But that offer was seen as less attractive than the new one because it included $37 a share in cash and $7 in Comcast's preferred stock.
SPORTS
By Knight-Ridder News Service | July 3, 1993
PHILADELPHIA -- By the time it plays its All-Star Game on July 13, Major League Baseball probably will have a new cable TV contract.Phillies president Bill Giles, a member of the owners' television committee, said the owners are close to cutting a deal with either ESPN or Liberty Media, which owns Prime Ticket Sports Network and SportsChannel America.ESPN is the front-runner. Sources close to the negotiations say the all-sports network has offered between $150 million and $200 million to broadcast three games a week for the next four years.
BUSINESS
February 13, 1993
Lerner gives up portfolio controlMNC Financial Inc. Chairman Alfred Lerner, who is also chairman of Progressive Corp. in Mayfield Heights, Ohio, has ceded control of the insurance holding company's investment portfolio to Progressive's chief executive, Peter Lewis, the company said yesterday.The move came four months after Progressive stockholders raised questions about large fees Mr. Lerner received between 1989 and 1991 for managing the $2.2 billion portfolio. Neither the company nor Mr. Lerner commented on the reason for the change.
BUSINESS
By BLOOMBERG NEWS | March 17, 1998
WASHINGTON -- BET Holdings Inc. founder Robert Johnson and Liberty Media Corp. agreed yesterday to pay $378 million, or $63 a share, for the part of the cable-television company they don't already own, raising an initial bid by almost a third.The parent of Black Entertainment Television will become a privately held company controlled by Johnson and Liberty, who already had more than 90 percent voting control. Johnson also is BET's chairman and chief executive.Black Entertainment Television is the largest remaining independent cable channel, reaching 50 million viewers.
BUSINESS
By BLOOMBERG BUSINESS NEWS | December 5, 1996
DENVER -- Tele-Communications Inc. said yesterday it may spin off its international and programming operations to shareholders in an effort to boost the value of its stock.The nation's largest cable company said it may spin off its remaining 82 percent stake in Tele-Communications International Inc., its overseas cable and phone operations, to shareholders of Tele- Communications Inc. It may also spin off its programming arm, Liberty Media, to holders of Liberty Media stock, which is now a so-called tracking stock.
SPORTS
By Milton Kent | November 8, 1995
Baltimoreans were understandably preoccupied Monday with a certain big announcement, but then Major League Baseball was making some pretty big headlines with an announcement of its own -- a five-year, $1.7 billion contract, split among four entities, that includes a few surprises.The best news in the deal for fans is that if they have cable, they'll be able to see all postseason games, a significant improvement from this season, when the heavily criticized regionalization of the playoffs denied the nation that chance.
BUSINESS
August 27, 1994
Madison Square Garden deal nearBidding appeared to be nearing a climax last night in the contest for the Madison Square Garden sports and entertainment empire, in which a partnership of ITT Corp. and Cablevision Systems Inc. is competing against Liberty Media Corp., a cable television programmer.The ITT-Cablevision team had the higher bid on the table, $1.05 billion, the New York Times reported yesterday, citing unnamed sources. But a deal was not certain, because Liberty Media, with a bid of about $1 billion, had not dropped out.Viacom Inc., which owns the Garden, will probably announce a deal tomorrow or Monday, one executive familiar with the discussions said.
BUSINESS
By New York Times News Service | July 22, 1994
In a deal aimed at putting the cable television magnate John Malone on its team, Comcast Corp. has made Liberty Media a partner in its takeover bid for QVC Inc., the cable television home shopping company.The two companies said yesterday that they would offer $44 a share in cash for QVC's outstanding shares.Comcast, on its own, had offered $44 a share last week. But that offer was seen as less attractive than the new one because it included $37 a share in cash and $7 in Comcast's preferred stock.
BUSINESS
By New York Times News Service | November 12, 1993
After round-the-clock negotiations that finally ended yesterday afternoon, BellSouth Corp. agreed to invest $1.5 billion to back QVC Network's bid for Paramount Communications.But just as QVC made a new alliance, it lost an old one. The Federal Trade Commission, which has been investigating antitrust issues in QVC's proposed hostile takeover of Paramount, has insisted that QVC sever its ties with Liberty Media, its largest shareholder, if it wants a green light from the government.If it wins Paramount, QVC has promised to buy out Liberty's 15.6 percent stake for roughly $500 million, if Liberty cannot get a better price in the open market.
BUSINESS
August 27, 1994
Madison Square Garden deal nearBidding appeared to be nearing a climax last night in the contest for the Madison Square Garden sports and entertainment empire, in which a partnership of ITT Corp. and Cablevision Systems Inc. is competing against Liberty Media Corp., a cable television programmer.The ITT-Cablevision team had the higher bid on the table, $1.05 billion, the New York Times reported yesterday, citing unnamed sources. But a deal was not certain, because Liberty Media, with a bid of about $1 billion, had not dropped out.Viacom Inc., which owns the Garden, will probably announce a deal tomorrow or Monday, one executive familiar with the discussions said.
BUSINESS
By New York Times News Service | November 12, 1993
After round-the-clock negotiations that finally ended yesterday afternoon, BellSouth Corp. agreed to invest $1.5 billion to back QVC Network's bid for Paramount Communications.But just as QVC made a new alliance, it lost an old one. The Federal Trade Commission, which has been investigating antitrust issues in QVC's proposed hostile takeover of Paramount, has insisted that QVC sever its ties with Liberty Media, its largest shareholder, if it wants a green light from the government.If it wins Paramount, QVC has promised to buy out Liberty's 15.6 percent stake for roughly $500 million, if Liberty cannot get a better price in the open market.
BUSINESS
By Bloomberg Business News | October 14, 1993
NEW YORK -- Stocks closed mostly higher yesterday as takeover speculation in the media industry sent investors scrambling for cable-TV stocks. Enthusiasm for the cable issues offset a decline in utility issues and concern about weaker corporate earnings and potentially higher interest rates.The Dow Jones industrial average gained 10.06 points, to 3,603.19. Entertainment, media, publishing and electrical-equipment stocks led the advance after Bell Atlantic Corp. announced that it would buy Tele-Communications Inc. and Liberty Media Corp.
BUSINESS
By New York Times News Service | October 9, 1993
NEW YORK -- QVC Network Inc. was negotiating yesterday with BellSouth and at least two other companies to strike a deal that would allow it to raise the cash portion of its $9.5 billion bid for Paramount Communications Inc. and avoid having to turn for help to John Malone, one of its partners in the deal.Mr. Malone, one of the nation's richest men, appears more than willing to pump money into the deal, and yesterday, as expected, two of the cable companies he controls, Tele-Communications Inc. and Liberty Media Corp.
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