Liberty Tells Comcast Price of QVC

  • July 14, 2003
Liberty Media Corp. said Friday it had delivered notice to Comcast Corp. prescribing the form of consideration for its acquisition of Comcast's 57% ownership stake in QVC. The notice calls for Liberty Media to issue shares of its common stock representing 7.5% of the shares of Liberty Media common stock, or about 218 million shares. The remainder of the purchase price will be paid in the form of a three-year note bearing interest. The values of the shares and the note to be delivered to Comcast are about $2.6 billion and $5.3 billion respectively.
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