Liberty Says It Plans to Hold News Corp. Stake
Billionaire media investor John Malone’s Liberty Media Corp. plans to retain its 18% voting stake in Rupert Murdoch’s News Corp. and the two executives are in contact, a Liberty executive said.
“Our intent is to hold the assets,” Liberty Senior Vice President Mark Carleton told investors at the Merrill Lynch Media & Entertainment Conference in Pasadena. “John has discussions with Rupert routinely.”
Those talks follow Murdoch’s Aug. 10 comment that negotiations on reducing Liberty’s stake in News Corp. had stalled. News Corp. last month extended a poison pill takeover defense that prevents Malone from buying more shares.
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