Liberty May Spin Off Non-U.S. Holdings
Liberty Media Corp. said it might spin off its non-U.S. investments into a new company to help finance acquisitions.
Liberty’s overseas investments include a 44% stake in Jupiter Telecommunications Co., Japan’s largest cable television provider. Liberty’s UnitedGlobalCom Inc. unit will own a 66% stake in Dutch cable provider United Pan-Europe Communications after a planned bankruptcy reorganization of United Pan-Europe.
Shares of the company that Liberty may spin off would be offered to Liberty shareholders, letting them benefit from acquisitions overseas without Liberty’s having to take on more debt, Chief Operating Officer Gary Howard said.
From Bloomberg News
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
