Liberty Media eyes asset spinoff
New group would be known as Liberty EntertainmentLiberty Media is taking steps to spin off Liberty Entertainment into a separate company.
The tax-friendly plan includes distributing to the holders of Liberty Entertainment shares of a tracking stock to trade under the symbol LMDI. The remaining assets would be known, collectively, as Liberty Entertainment Inc., consisting of Fun Technologies, Liberty Sports, 52% of DirecTV, 50% of GSN and $2 billion in debt.
LMDI will consist of Starz Entertainment, 37% of WildBlue Communications and an undetermined amount of cash.