Liberty Media eyes asset spinoff

New group would be known as Liberty Entertainment

Liberty 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.
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