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To: SpinCity1 who wrote (68116)	4/13/1999 10:42:00 AM
From: Doug Robinson	Read Replies (1) \| Respond to of 119973

IATV-BIG NEWS!! Liberty Media may buy up to 25 pct of ACTV NEW YORK, April 13 (Reuters) - Liberty Media Group (NYSE:LMGa - news) said Tuesday it agreed to a stock deal worth as much as $100 million with ACTV Inc (Nasdaq:IATV - news) that, if fully exercised, would give it an estimated 25 percent interest in the interactive digital TV company. Under the agreement in principle, Liberty, which has interests in several entertainment networks such as Discovery Channel, USA, QVC, Encore, and STARZ!, will invest an additional $9 million in ACTV by exercising previously existing options and purchasing additional common stock. Liberty will also receive new options in ACTV, which it may exercise over a period of one-to-five years. If these options are fully exercised, Liberty's investment in ACTV will total more than $100 million, representing an estimated 25 percent interest in the company, it said. It previously announced it has made a proposal to TCI Music, Inc. (Nasdaq:TUNE - news) to contribute all its directly owned Internet and interactive television assets to TCI in exchange for newly-issued shares of TCI's Series B common stock. The assets proposed to be contributed to TCI Music, which would change its name to Liberty Digital, Inc., would include Liberty's holdings of ACTV's securities. ACTV is a leader in interactive digital television with its proprietary ''Individualized Television'' programming capabilities, and is a pioneer in TV-Internet convergence with its patented HyperTV software. In addition to Liberty's initial strategic investment of $5 million in September 1998, the companies announced a joint venture which is currently exploring other uses of ACTV's technology. ''ACTV has continued to develop a suite of innovative applications which fit very well with Liberty Digital's strategy of bringing new digital and interactive applications to the marketplace,'' said Lee Masters, president and CEO of Liberty Digital. ACTV and TCI Music's The Box Music Network are working on viewer-controlled music programming, using ACTV's proprietary digital programming technology.