Liberty Media OK to buy back $1.3B in shares
Liberty Media Corp. announced on Monday that its board has authorized the company to buy back up to $1.3 billion worth of shares from two of the business' tracking stocks.
The repurchase authorization includes up to $1 billion worth of the Englewood-based conglomerate's Liberty Entertainment common stock (NASDAQ: LMDIA, LMDIB) and $300 million for Liberty Capital (NASDAQ: LCAPA, LCAPB). The buyback replaces previous plans authorized for Liberty Capital shares.
Liberty Entertainment was formed March 3 to reflect the value of Liberty Media's holdings in the DirecTV satellite broadcasting company and Starz Entertainment LLC cable network no fax payday loans.
Liberty Capital is the stock for the company's less-focused holdings, including the Atlanta Braves baseball team and its equity stakes in Sprint Nextel, Time Warner Inc. and Liberty Media's $3.9 billion in publicly traded debt.
Filed under: technology by Finance Boss