IAC and Liberty Media Resolve Legal Dispute
14 5월 2008 - 5:47AM
PR Newswire (US)
Liberty to Drop Appeal of Delaware Decision, Parties Agree to
Spin-off Plan ENGLEWOOD, Colo. and NEW YORK, May 13
/PRNewswire-FirstCall/ -- Liberty Media Corporation
(NASDAQ:LINTANASDAQ:LMDIANASDAQ:LCAPA) ("Liberty") and IAC
(NASDAQ:IACI) announced today that they have resolved their legal
dispute regarding IAC's proposed restructuring. Liberty has agreed
to drop its appeal of the decision handed down by the Delaware
Chancery Court on March 28, 2008 and will not oppose the proposed
single-tier spin-offs of HSN, Interval International, Ticketmaster
and Lending Tree, which IAC advanced earlier today by making its
initial filings with the SEC. Additionally, the companies agreed on
a number of arrangements regarding the governance of the spun off
companies, including Liberty's right to board representation on
each company and a standstill agreement that limits Liberty's
ability to increase its ownership stakes and to take a variety of
other actions with respect to the spun off companies. Further
details of the arrangement between IAC and Liberty are set forth in
filings the companies make with the Securities and Exchange
Commission. IAC Chairman and Chief Executive Officer Barry Diller
stated, "Now it's really over and that's great for both of us."
Liberty Chairman John Malone said, "I am pleased that we were able
to amicably resolve our dispute with IAC. Liberty supports the
proposed restructuring of IAC and looks forward to the ongoing
success of each of the new entities and IAC." About Liberty Media
Corporation Liberty Media Corporation owns interests in a broad
range of electronic retailing, media, communications and
entertainment businesses. Those interests are attributed to three
tracking stock groups: (1) the Liberty Interactive group, which
includes Liberty's interests in QVC.com, Provide Commerce,
Backcountry.com, BUYSEASONS, Bodybuilding.com, IAC/InterActiveCorp,
and Expedia, (2) the Liberty Entertainment Group, which includes
Liberty's interests in the DIRECTV Group, Inc., Starz
Entertainment, FUN Technologies, Inc., GSN, LLC, WildBlue
Communications, Inc., and Liberty Sports Holdings LLC, and (3) the
Liberty Capital group, which includes all businesses, assets and
liabilities not attributed to the Interactive Group or the
Entertainment Group including our subsidiaries Starz Media, LLC,
Atlanta National League Baseball Club, Inc., and TruePosition,
Inc., and minority equity investments in Time Warner Inc. and
Sprint Nextel Corporation. About IAC IAC is an interactive
conglomerate operating more than 60 diversified brands in sectors
being transformed by the internet, online and offline... our
mission is to harness the power of interactivity to make daily life
easier and more productive for people all over the world. To learn
more about IAC please visit http://iac.com/. Contact: IAC Investor
Relations Liberty Media Eoin Ryan John Orr (212) 314-7400 (720)
875-5622 IAC Corporate Communications Stacy Simpson (212) 314-7470
DATASOURCE: IAC CONTACT: IAC Investor Relations, Eoin Ryan,
+1-212-314-7400, or IAC Corporate Communications, Stacy Simpson,
+1-212-314-7470; or John Orr, Liberty Media, +1-720-875-5622 Web
site: http://www.iac.com/
Copyright
Liberty Media Corp. - Liberty Cap Class A Common Stock (MM) (NASDAQ:LCAPA)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Liberty Media Corp. - Liberty Cap Class A Common Stock (MM) (NASDAQ:LCAPA)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024