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Liberty Media Corporation owns interests in a broad range of video programming, communications and Internet businesses in the United States, Europe, South America and Asia. Liberty Media's principal assets include interests in Starz Encore Group LLC, Discovery Communications, Inc., AOL Time Warner Inc., QVC Inc., USA Networks Inc., Telewest Communications plc, Gemstar-TV Guide International Inc., Motorola Inc., Sprint PCS Group, The News Corporation Limited and Liberty Digital Inc. Liberty Media is engaged principally in three fundamental areas of business: Programming, consisting principally of interests in video programming services; Communications, consisting principally of interests in cable television systems, telephone and satellite systems; and Internet services and technology. AT&T said after the market closed on Monday, June 18th 2001, that it will spin off shares of its Liberty Media Group programming arm on Aug. 10. AT&T will redeem each outstanding share of its Class A and Class B Liberty shares for each Liberty share owned by shareholders as of June 14. After the transaction, the new Liberty will trade on the New York Stock Exchange under the symbols "LMC.A" and "LMC.B." The move is being made to placate federal regulators in the wake of AT&T's recent purchase of cable operator MediaOne. Under current U.S. guidelines, AT&T's cable systems exceed the percentage of cable television households that one company is allowed to control; with the Liberty spin-off, the company can come a step closer to meeting that limit. For Liberty, the freedom of operating as an independent financial entity allows Chairman John Malone more leeway to make the deals he is so famous for. In a media landscape that is being increasingly consolidated, Malone can maneuver Liberty into a dominant position. Analysts have traditionally touted the stock as a one-stop shop to invest in most of the world's biggest media companies. Liberty owns significant stakes in Discovery Communications, News Corp., AOL Time Warner, USA Networks, and many other media companies. Company website: libertymedia.com Websites of some of LMC's majority owned companies: Liberty Digital: libertydigital.com Liberty Livewire: libertylivewire.com Liberty Satellite: libertysatellite.com | ||||||||||||
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