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Liberty Media Chief Sells 2.2 Mil Discovery Shares

Jun 27, 2012, 5:06 PM
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Liberty Media chairman John Malone sold about 2.2 million shares of Discovery Communications stock earlier this month for about $106 million, reports B&C. Sanford Bernstein media analyst Todd Juenger wrote that it should not cause investor concern. The sale represents more than half of Malone's Series C holdings -- according to Discovery's proxy statement, Malone controlled 3.9 million Series C shares, 6.1 million Series B shares and 590,956 Series A shares of Discovery as of March 2, 2012.

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