August 6, 2005 |
Liberty Media Corp. posted a narrower second-quarter loss Friday, while founder John Malone said he would take over as chief executive for two years and indicated that a sale of the company's News Corp. stake wasn't likely before the end of the year. Malone, who built Liberty over six years by purchasing minority stakes in media companies, said that as CEO he would step up the pace of acquisitions and begin taking "operational" positions in other businesses.
August 4, 2005 |
Cable magnate John Malone will step into the chief executive's job at Liberty Media Corp. to succeed the retiring Robert Bennett, the company said. Bennett will remain a director of the media holding company and will work on special projects. His departure is scheduled for April 1. Malone, 64, is currently Liberty's chairman.
June 14, 2005 |
News Corp. has approved the repurchase of up to $3 billion of its shares, a sign that a deal to buy Liberty Media Corp.'s roughly $8.4-billion News Corp. stake may not be close at hand. Top executives at the New York-based media conglomerate have said a buyback wouldn't be prudent as long as the company is negotiating with John Malone's Liberty Media to buy at least part of its 18% voting stake in News Corp.
June 9, 2005 |
John Malone, chairman of Liberty Media Corp., resigned from the board of Cablevision Systems Corp. to avoid conflicts that might arise because both companies own television programming assets. Malone resigned Monday, the company said in a filing with the Securities and Exchange Commission. Malone, who joined the board while Cablevision Chairman Charles Dolan battled to keep alive the Voom satellite TV service, is departing two months after the unit halted service.
May 13, 2005 |
Liberty Media Corp. may seek to buy the National Geographic Channel and is closing in on a deal to sell a voting stake back to News Corp., Liberty Chairman John Malone said Thursday. Whether the two deals are linked or separate is yet to be determined. Malone said a deal would have to be part of a cash transaction. News Corp. owns about 67% of the National Geographic Channel's U.S. operations and 50% of the international subsidiary, according to its 2004 annual report.
May 10, 2005 |
Liberty Media Corp., controlled by cable television investor John Malone, posted a first-quarter profit of $254 million as sales rose at the QVC television shopping channel and the Discovery cable TV network. Net income was 9 cents a share, contrasted with a loss of $10 million, or break-even on a per-share basis, a year earlier, the company said Monday in a filing with the Securities and Exchange Commission.
March 30, 2005 |
Liberty Media Corp. Chairman John Malone said Tuesday that he wanted to hold or expand his company's stake in Rupert Murdoch's News Corp., heightening a conflict between the executives over the future of Malone's investment. "I would prefer either to hold and enhance the position or find a way to distribute the position to shareholders," Malone, 64, said at an investment conference in New York. "There are lots of options including the status quo."
March 16, 2005 |
One of the world's most valuable names on cable TV may soon be up for grabs as a result of a financial maneuver Tuesday by cable mogul John Malone. Liberty Media Corp., Malone's cable programming company, said Tuesday that it would spin off its 50% stake in Discovery Communications Inc., which owns cable networks such as the Discovery Channel, TLC, Animal Planet and the Travel Channel. Discovery, based in Silver Spring, Md.
March 15, 2005 |
John Malone, chairman of Liberty Media Corp., said Monday that he joined the board of Cablevision Systems Corp. this month because Cablevision Chairman Charles Dolan had "been a friend for 40 years." "It seemed like I might be helpful to him in settling things down," Malone said during a Liberty Media International Inc. conference call.
January 22, 2005 |
Liberty Media Corp.'s credit rating may be cut by Standard & Poor's to non-investment grade because, the ratings firm said, Chairman John Malone has created "uncertainty" with talk of splitting the company. Malone had said in an interview with the Wall Street Journal that he might split the company's entertainment networks and interactive businesses into separate companies. "There's a chance the new structure may not be as good for bondholders," S&P analyst Heather Goodchild said.