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To: Skip Jack who wrote (1073)	4/1/1999 2:59:00 PM
From: Skip Jack	Respond to of 13157

A little different spin. ***************************** April 01, 1999 09:08 News Corp Buying Out Sports Venture From Liberty (NWS,LMGA) - Rpt (NewsTraders.com)-- News Corp.'s (NWS) Rupert Murdoch is moving ahead with his master plan to build a sports empire by agreeing to buy Liberty Media's (LMGA) 50% stake in their sports partnership for $1.4 billion in stock, according to the Los Angeles Times. Highlights: - Sources say Murdoch would free himself of management constraints of the more conservative Liberty Media, which became a subsidiary of ATT Corp. (T) following the recently completed acquisition of e-Communications Inc. - Murdoch has employed a strategy of growing News Corp through the acquisition of sports assets such as the Los Angeles Dodgers and a stake in other teams around the globe. - News Corp will reportedly take 100% control of Fox/Liberty Networks, which was formed in 1995 to rival Disney's (DIS) ESPN. - The assets include the FX Entertainment channel, a dozen regional sports networks, interests in more than 15 additional regional sports channels, and some cable networks. - Liberty would become one of News Corp's largest shareholders with a 5% stake. Copyright 1999 NewsTraders Inc. All Rights Reserved 09:07 Thursday, April 01, 1999