John Corn
03-03-03, 12:18 PM
NEW YORK (Reuters) - Liberty Media Corp. (L.N), a holding company controlled by cable TV mogul John Malone, on Monday said it would unwind its partnership with Comcast Corp. (CMCSA.O) in the shopping network QVC.
If Comcast declines to purchase Liberty's stake, then Liberty will have the opportunity to buy out Comcast. If both companies pass, the profitable home shopping network will go on the auction block.
Selling its 42 percent stake in QVC could give Liberty the cash it needs to make a run for Hughes Electronics (GMH.N) and its satellite television unit, DirecTV, analysts said. Liberty has said it is interested in buying DirecTV, either on its own or in partnership with News Corp. Ltd. (NCP.AX) (NWN.N).
A source familiar with the matter told Reuters last week that Liberty and News Corp. had not yet teamed up to make a bid but that the situation could change.
Full Story (http://story.news.yahoo.com/news?tmpl=story&u=/nm/20030303/bs_nm/media_liberty_qvc_dc_5)
If Comcast declines to purchase Liberty's stake, then Liberty will have the opportunity to buy out Comcast. If both companies pass, the profitable home shopping network will go on the auction block.
Selling its 42 percent stake in QVC could give Liberty the cash it needs to make a run for Hughes Electronics (GMH.N) and its satellite television unit, DirecTV, analysts said. Liberty has said it is interested in buying DirecTV, either on its own or in partnership with News Corp. Ltd. (NCP.AX) (NWN.N).
A source familiar with the matter told Reuters last week that Liberty and News Corp. had not yet teamed up to make a bid but that the situation could change.
Full Story (http://story.news.yahoo.com/news?tmpl=story&u=/nm/20030303/bs_nm/media_liberty_qvc_dc_5)