John Malone, chairman of Liberty Media, bought 3.8 million shares of Liberty Capital Group for $95 million, Multichannel News reports. Malone’s investment is surprising because Liberty Capital is made up of Liberty’s less desirable properties like the Atlanta Braves and minority stock holdings, which include stakes in Time Warner Inc. and Sprint Nextel, the newspaper says. “Liberty officials said Malone believes the stock is cheap and a good buy,” the newspaper notes.
—Vlada Gelman