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Liberty Media acquires 9.15 per cent voting interest in News Corp

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MUMBAI: The John Malone owned media conglomerate Liberty Media yesterday announced the acquisition of 9.15 per cent voting interest in Rupert Murdoch's News Corporation Limited.

 

According to a notice filed wtih the Securities and Exchange Commission, Liberty now owns 48 million News Corp ordinary American Depositary Shares (ADSs) and 210.8 million News Corp preferred limited voting ADSs.



The increase of Liberty's minority voting interest in News Corp by swapping non voting for voting shares now means that Liberty now owns a total equity interest of 17 per cent in News Corp.



According to the company, currently, Liberty Media is the largest shareholder in News Corp and has the second largest voting stake. During the past year, Liberty Media increased its ownership in News Corp by 26.8 million ADSs, says a company release.



"We have capitalized on an opportunity to exchange non-voting shares for voting shares at attractive prices to become the second largest voting block in one of the world's premier media companies," Liberty Media President and CEO Robert Bennett has been quoted as saying. "News Corp is one of the few truly global media companies and we are very pleased we were able to leverage our substantial equity interest in News Corp into a larger equity and voting stake," says Bennett.



Liberty Media Corporation holds interests in numerous globally branded entertainment networks such as Discovery Channel, USA Interactive, QVC, Encore, and STARZ! Liberty's assets also include interests in international video distribution businesses; international telephony and domestic wireless telephony; plant and equipment manufacturers; and other businesses related to broadband services.

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