Liberty Media to spin off broadband assets
Liberty Media Corporation Announces Plan to Separate International Businesses
ENGLEWOOD, Colo., March 15 /PRNewswire-FirstCall/ -- Liberty Media Corporation (NYSE: L, LMCB) today announced that it intends to spin-off to its shareholders a separate company comprised of its international businesses. The transaction, which is intended to be tax-free to shareholders, will create a new publicly-traded company called Liberty Media International, Inc. (LMI).
LMI will be comprised of Liberty Media's interests in various broadband and content businesses operating principally in Europe, Japan and Latin America. These businesses include UnitedGlobalCom, Inc. (Nasdaq: UCOMA), Jupiter Telecommunications, Co., Ltd., and Jupiter Programming Co., Ltd., and Liberty Cablevision of Puerto Rico, Inc. among others.
Within the coming weeks, Liberty Media will make the appropriate SEC filings with completion of the transaction expected to occur in the early Summer.
Liberty Media Corporation (NYSE: L, LMCB) is a holding company owning interests in a broad range of electronic retailing, media, communications and entertainment businesses operating in the United States, Europe, South America and Asia. Our businesses are classified in three groups; Interactive, Networks and International and include some of the world's most recognized and respected brands, including QVC, Encore, STARZ!, Discovery, UnitedGlobalCom, Inc., IAC/InterActiveCorp, and News Corporation.
Important Notice: Liberty Media Corporation President and CEO, Robert Bennett, will discuss this press release as well as Liberty Media's supplemental financial information and guidance in a conference call which will begin today at 11:00 a.m. (ET). The call can be accessed by dialing (913) 981-4901 at least 10 minutes prior to the start time.
The call will also be broadcast live across the internet. To access the web cast go to
libertymedia.com |
