In the discussion thread: Liberty Media Raises Stake in Sirius XM Radio Above 50% [View all]
Response to Botany (Reply #6)
Thu Jan 17, 2013, 08:57 PM
KoKo (75,392 posts)
9. A little current WICKPEDIA on "Liberty"
Liberty Media Corporation (commonly referred to as Liberty Media or Liberty) is an American mass media controlled by company Chairman John C. Malone, who owns a majority of the voting shares.
SOME SNIPS from the LATEST...although their Background on WICKI is worth a read of how our FCC has Trashed American Public TV/Radio Viewers/Listeners for the past few decades.
In April 2007, Liberty completed a purchase of Green Bay, Wisconsin, television station WFRV-TV, and satellite station WJMN-TV in Escanaba, Michigan, which serves the Marquette, Michigan, market. The deal was part of a swap of 7.59 million shares of common stock in CBS, the stations' owner, that was held by Liberty Media; in exchange for the stock, CBS gave liberty the stations and $170 million in cash. Liberty announced plans in April 2011 to sell WFRV and WJMN to Nexstar Broadcasting Group for $20 million; the stations were the only over-the-air broadcast properties in Liberty's portfolio.
On February 17, 2009, Liberty announced that it would invest up to $530 million into the struggling Sirius XM Radio Inc., in a structured deal that would help the satellite radio provider avoid filing bankruptcy protection by meeting its obligations. The deal also provided for two board seats for Liberty Media, and provided cash for operations and development, with a maturity date of December 2012 for the loan. On March 6, the two companies approved the second part of the deal, with Sirius XM getting $250 million immediately and Liberty receiving 12.5 million shares of preferred stock convertible into a forty percent ownership of Sirius XM common stock.
MUCH MORE AND BACKGROUND AT:
On the Fortune 500 list 2011, Liberty Media was ranked 224, moving up from 2010 when they were ranked 227.
In June 2011, Liberty announced it was in talks to buy a seventy percent stake in the Barnes & Noble bookstore chain, although in August, sources told the Financial Times it was losing interest in such a transaction. Liberty eventually purchased a sixteen percent stake in the form of preferred stock in Barnes & Noble for $204 million.
On August 8, 2012, Liberty Media announced that they will spin-off Starz into a separate publicly traded company.
MORE ON "Liberty's History at:
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Replies to this discussion thread
|Judi Lynn||Jan 2013||OP|
|Omaha Steve||Jan 2013||#13|
|Great Caesars Ghost||Jan 2013||#2|
A little current WICKPEDIA on "Liberty"
|Great Caesars Ghost||Jan 2013||#18|
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