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Liberty Media Wants Discovery Stake

Nov 17, 2003  •  Post A Comment

Liberty Media CEO Robert Bennett said Friday he would be interested in acquiring the 25 percent stake in Discovery Communications that is now held by cable operator Cox Communications, another sign that Liberty is looking to become a more active owner of the assets in which it holds stake. Though he said there was no mechanism for Liberty to force Cox to consider selling the stake in Discovery, Mr. Bennett said Liberty is “always interested” in acquiring Cox’s portion and has held discussions with the Atlanta-based cable operator, but “we don’t control the circumstances that could make things come to that.” Liberty now holds a 50 percent stake in Discovery. A Cox spokeswoman was not available for comment Friday. Mr. Bennett also said Liberty would be interested in acquiring the 50 percent stake of cable channel Court TV that is now owned by Time Warner. However, he noted Liberty has about two years remaining before it can broach the subject with Time Warner.