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Technology Stocks : THE NEW LIBERTY MEDIA GROUP (NYSE: LMG.A and LMG.B) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony B Jerauld who wrote (54)	5/20/1999 2:53:00 AM
From: KENNETH DOAN	Read Replies (1) \| Respond to of 375

Thursday May 20, 1:44 am Eastern Time Liberty Media Group Q1 results ENGELWOOD, Colo., May 20 (Reuters) - (combination of certain assets) Combined Statements of Operations and Comprehensive Earnings (unaudited) New Liberty Old Liberty One month Two months Three months ended ended ended March 31, February 28, March 31, 1999 1999 1998 amounts in millions Revenue $71 282 351 Operating costs and expenses: Operating, selling, general and administrative 56 227 302 Stock compensation (41) 183 158 Depreciation and amortization 53 47 54 68 457 514 Operating income (loss) 3 (175) (163) Other income (expense): Interest expense (13) (28) (18) Dividend and interest income 24 12 17 Share of losses of affiliates, net (80) (66) (257) Minority interests in losses of attributed subsidiaries -- 4 13 Gain on dispositions, net -- 14 552 Gains on issuance of equity by subsidiaries -- 389 38 Other, net -- -- 2 (69) 325 347 Earnings (loss) before income taxes (66) 150 184 Income tax benefit (expense) 8 (209) (76) Net earnings (loss) $(58) (59) 108 Other comprehensive earnings, net of taxes: Foreign currency translation adjustments 12 (15) 1 Unrealized holding gains arising during the period, net of reclassification adjustments 894 971 348 Other comprehensive earnings 906 956 349 Comprehensive earnings $848 897 457 NOTE: Full co. name is Liberty Media Group. The following selected unaudited affiliate operating results and aggregate attributed results were not prepared in accordance with generally accepted accounting principles, and are intended solely to provide additional information to investors. They should be reviewed in conjunction with Liberty's combined financial statements included in the AT&T Corp Form 10-Q filed with the Securities and Exchange Commission. On March 9, AT&T acquired Tele-Communications Inc. through a merger. Also on March 9, the TCI Ventures Group and the Liberty Media Group of TCI were combined. Immediately prior to the closing of the AT&T Merger, in exchange for about $5.5 billion in cash, TCI Ventures transferred to TCI Group its interest in At Home Corp , National Digital Television Centre, Inc., Western Tele- Communications, Inc., and about 47 million shares of AT&T common stock. Upon completion of the AT&T Merger and the Liberty/Ventures Combination, each share of TCI Liberty Media Group Series A and Series B Common Stock was exchanged on a one-for-one basis for shares of new Liberty Media Group class A and class B Common Stock which are tracking stocks of AT&T and which trade on the New York Stock Exchange under the symbols LMG.A and LMG.B. Each share of TCI Ventures Group Series A and Series B Common Stock was exchanged for .52 of a share of the new Liberty Media Group class A and class B Common Stock. The results of Liberty Media Group for quarter ended March 31, 1999 are included in the AT&T Form 10-Q which was filed with the Securities and Exchange Commission on May 17, 1999. The results assume that the Liberty/Ventures Combination and the asset transfers associated with the AT&T Merger were effective Jan. 1, 1998.