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Time Warner Buys Liberty's Court TV Stake

IN BRIEF / MEDIA

May 13, 2006|From Reuters

Time Warner Inc. said it bought Liberty Media's 50% stake in their joint venture Court TV for $735 million.

Court TV will operate as part of Time Warner's Turner Broadcasting System. Court TV Chief Executive Henry Schleiff will be the cable network's nonexecutive chairman for the next six months, focusing on its integration into Turner.

Liberty, controlled by cable magnate John Malone, said in March that it was in talks with Time Warner over Liberty's 4% stake in that company. Analysts had said at the time that Liberty might seek to swap that stake for Time Warner's half of Court TV.

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