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IN BRIEF / MEDIA

Liberty May Spin Off Non-U.S. Holdings

May 21, 2003|From Bloomberg News

Liberty Media Corp. said it might spin off its non-U.S. investments into a new company to help finance acquisitions.

Liberty's overseas investments include a 44% stake in Jupiter Telecommunications Co., Japan's largest cable television provider. Liberty's UnitedGlobalCom Inc. unit will own a 66% stake in Dutch cable provider United Pan-Europe Communications after a planned bankruptcy reorganization of United Pan-Europe.

Shares of the company that Liberty may spin off would be offered to Liberty shareholders, letting them benefit from acquisitions overseas without Liberty's having to take on more debt, Chief Operating Officer Gary Howard said.

From Bloomberg News

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