Liberty Media Shareholders Vote to Split Liberty Capital Into Two Tracking Stocks
Shareholders of Liberty Media (NSDQ: LINTA), the media holding company, have approved the previously announced plan to split Liberty Capital into two tracking stocks—Liberty Capital and Liberty Entertainment. The move is subject to the exchange agreement with News Corp. (NYSE: NWS), with Liberty trading its stake in News Corp. in exchange for shares of a newly formed News Corp. unit consisting of its DirecTV (NYSE: DTV) holdings, three regional sports networks and cash. The new Liberty Entertainment Group stock will track that stake, as well as Liberty properties Starz, FUN Technologies, GSN and WildBlue Communications. Still needed: regulatory approval. Release.
Posted In: Media & Publishing, TV, Cable & Telecom, Satellite, Money, Companies, Adobe, Liberty Media, News Corp.
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