Liberty Rethinks DirecTV Spinoff

Oct 31, 2008  •  Post A Comment

Market conditions are forcing John Malone to reassess Liberty Media’s plan to spin off DirecTV, the Wall Street Journal reports. Not doing the spinoff would be a disappointment to investors, the paper said. But Malone, who had to sell almost $50 million in Liberty’s tracking stock back to the company to lessen his family debt, said he didn’t need to sell more of his holdings. Liberty is also shifting some debt to shore up the credit position of Liberty Ineractive. All of this news sent Liberty Media’s tracking stock down sharply Thursday.
— Jon Lafayette

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