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.
January 19, 2005 |
John Malone's Liberty Media International Inc. offered to buy the rest of UnitedGlobalCom Inc. for about $3.52 billion as part of his plan to combine his international cable television assets. Pooling the assets in a new company, Liberty Global Inc., will make it easier for investors to value the companies, he said. Liberty Global Inc. will hold UnitedGlobalCom, the largest publicly traded cable TV company in Europe, and Liberty Media's assets, including cable systems in Japan.
December 1, 2004 |
John Malone's Liberty Media International Inc. agreed to take control of Jupiter Telecommunications Co., Japan's largest cable-TV company, if Jupiter would sell shares to the public. Liberty Media said it would place its 45% stake in Jupiter into a holding company, along with a 32% stake owned by Sumitomo Corp. Liberty Media shares rose $1.21 to $43.06 on Nasdaq.
November 13, 2004 |
Liberty Media Corp. Chairman John Malone said his company's plans to raise its voting stake in News Corp. were "entirely friendly." News Corp. adopted an anti-takeover defense Monday after Liberty announced a swap transaction last week that would allow it to buy $1.5 billion in News Corp. stock. Malone said he didn't tell News Corp. Chairman Rupert Murdoch beforehand because he believed that would have violated securities laws.
August 10, 2004 |
Liberty Media Corp., the investment company controlled by John Malone, said its loss narrowed in the second quarter to $314 million as the purchase of home-shopping network QVC boosted sales. The loss equaled 11 cents a share, compared with a loss of $464 million, or 17 cents, a year earlier, Englewood, Colo.-based Liberty said. Revenue more than tripled to $1.85 billion. Malone bought a 57% stake in QVC in September 2003 from Comcast Corp. for $7.68 billion in cash, stock and notes.
July 22, 2004 |
Liberty Media Corp. has clinched a deal to exchange certain cable programming assets, plus about $545 million in cash, for the roughly 4% of its stock held by Comcast Corp., the nation's largest cable operator. The agreement, announced Wednesday, eliminates concern over a possible sale of the shares by Comcast, which didn't consider its Liberty stake strategic. It also allows Liberty to shed assets, such as its 10% stake in cable network E!
May 15, 2004 |
Liberty Media Corp. may consider a bid for Adelphia Communications Corp. if it could forge a partnership with Cox Communications Inc., a Liberty executive said. Robert Bennett, president and chief executive of Liberty, told investors that his company would not submit a bid for Adelphia on its own but would be interested in a joint bid if it would help Liberty increase its stake in Discovery Communications Inc. Liberty and Cox each own 50% of Discovery.
May 11, 2004 |
Liberty Media Corp., the company controlled by cable TV investor John Malone, had a first-quarter loss of $10 million as some investments declined in value and profit fell at its Starz Encore movie networks. The loss of less than 1 cent a share compares with net income of $132 million, or 5 cents a share, a year earlier, the Colorado-based company said in a regulatory filing. Reported sales jumped more than fourfold, to $2.