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Liberty Media, the media and communications business ran by John Malone, said Wednesday it will acquire a controlling ownership stake in interactive TV company OpenTV.

Under terms of the agreement, Liberty will acquire approximately 43 percent of the economic interest and 87 percent of the voting interest in OpenTV's ordinary shares. Taking into consideration Liberty's existing shareholdings in OpenTV, its total economic interest will amount to about 46 percent and total voting interest at around 89 percent.

The company also revealed plans to form Liberty Broadband Interactive Television, which will focus on developing and investing in the ITV sector. Peter Boylan, former co-president at Gemstar TV Guide, was named president and CEO of the new unit, which will oversee the stake in OpenTV and other ITV businesses.

In addition to the OpenTV announcement, Liberty announced a preliminary agreement to buy 84 percent of digital media services provider ACTV Inc.

From SkyReport (Used with Permission)
 
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