Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Liberty Media plans stock dividend to spin off cable assets

[July 25, 2014]  (Reuters) - John Malone's Liberty Media Corp started the process of spinning off its cable assets through a stock dividend to its shareholders to form a new listed company called Liberty Broadband.

Liberty Broadband, in a regulatory filing, said the stock dividend would be worth up to $4.8 billion and Malone would retain a voting interest of 47.3 percent.

(Reporting by Soham Chatterjee in Bangalore; Editing by Saumyadeb Chakrabarty)

[© 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.