Liberty To Split Off Capital, Starz Units
Reuters, Tuesday, June 22, 2010 12:22 AM
Liberty Media Corp, the media conglomerate controlled by mogul John Malone, said on Sunday it plans to spin off two of its units -- investment arm Liberty Capital and pay TV and Hollywood studio unit Liberty Starz, which trades under three tracking stocks: Liberty Starz and Liberty Capital, as well as Liberty Interactive, reports Reuters. Liberty Interactive holds assets including interests in home shopping network QVC, internet company IAC and travel Web site Expedia.
Liberty says it's doing this to provide greater transparency into the operations of its Liberty Interactive group, reports Daily Finance. That should make it easier and faster to raise capital. Liberty hopes to complete the spinoff later this year or early next year. The newly formed company, dubbed Newco, will hold virtually all the assets and liabilities of Starz and Capital, but it will be divided into two tracking-stock groups.
Read the whole story at Reuters »
Liberty says it's doing this to provide greater transparency into the operations of its Liberty Interactive group, reports Daily Finance. That should make it easier and faster to raise capital. Liberty hopes to complete the spinoff later this year or early next year. The newly formed company, dubbed Newco, will hold virtually all the assets and liabilities of Starz and Capital, but it will be divided into two tracking-stock groups.
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