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Liberty Never Sleeps- Chris Christie–Media Injustice and The Unwashed Masses – Video

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Liberty Never Sleeps- Chris Christie--Media Injustice and The Unwashed Masses
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Liberty Never Sleeps- Chris Christie--Media Injustice and The Unwashed Masses - Video

Malone’s Liberty Global Said Approaching Ziggo Agreement

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Liberty Global Plc (LBTYA) is putting the final touches on an acquisition of Dutch broadband provider Ziggo NV (ZIGGO) as the cable company expands its European operations, according to people with knowledge of the matter.

Liberty Global, controlled by U.S. billionaire John Malone, and Ziggo aim to announce a friendly deal as early as the middle of this month, and are hammering out a final acquisition price and other terms, the people said, asking not to be identified discussing private negotiations.

Ziggos shares rose 3.6 percent in Amsterdam to 33.77 euros, valuing the company at about 6.75 billion euros ($9.2 billion).

Outstanding issues include determining whether Ziggo Chief Executive Officer Rene Obermann, a former CEO of Deutsche Telekom AG (DTE) who started this month, will stay at the Dutch company if it is bought by Liberty, the people said. Liberty Global already owns about 30 percent of Ziggo, which it has gradually amassed. The companies are also discussing how to protect jobs once Ziggos operations are combined with Liberty Globals existing Dutch unit, UPC, the people said.

Malone, with a net worth of about $7.3 billion according to the Bloomberg Billionaires index, has built a European cable and broadband empire through acquisitions in countries including the U.K. and Germany, taking advantage of rising demand for high-speed Internet and pay TV.

Ziggos shares rose as much as 2.7 percent in Amsterdam, and traded up 2.3 percent to... Read More

Ziggos shares rose as much as 2.7 percent in Amsterdam, and traded up 2.3 percent to 33.33 euros at 11:37 a.m., valuing the company at about 6.7 billion euros ($9.1 billion). Close

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Ziggos shares rose as much as 2.7 percent in Amsterdam, and traded up 2.3 percent to 33.33 euros at 11:37 a.m., valuing the company at about 6.7 billion euros ($9.1 billion).

Liberty Global last year bought Virgin Media Inc., a U.K. pay-TV provider, for about $16 billion, putting it in head-to-head competition with Rupert Murdochs British Sky Broadcasting (BSY) Plc.

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Malone’s Liberty Global Said Approaching Ziggo Agreement

Sirius’s Shares Climb Above Buyout Offer From Malone’s Liberty

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Sirius XM Holdings Inc. shares climbed above the buyout offer from its majority owner Liberty Media Corp., signaling that investors expect the bidder to sweeten its offer.

Liberty, which already owns about half of the satellite-radio company, made an offer last week valuing the rest at $3.68 a share, or about $10.6 billion. The stock closed at $3.83 today in New York, more than 4 percent higher than the bid by Liberty, an investment company controlled by billionaire John Malone.

The reaction signals that Liberty may face opposition in getting investors to approve the current deal. Greg Maffei, the companys chief executive officer, said last week that Liberty plans to tap the cash of Sirius to potentially finance other transactions, including a possible bid for Time Warner Cable Inc. Liberty is contemplating making a Time Warner Cable deal through another of its holdings, Charter Communications Inc.

Liberty is essentially offering a very low premium, Jim Boyle, managing director at SQAD LLC, an advertising tracking and forecasting firm, said in an e-mail. Theres speculation that the Sirius special committee of independent board members will counter higher.

Siriuss board is forming a committee of directors to consider Libertys proposal. Any deal would be subject to approval by those board members, as well as a majority of the New York-based companys shareholders.

Liberty has proposed creating a new class of stock, called Series C, and offering 0.076 of a share for each Sirius share. The deal would give Sirius a market value of about $23 billion.

Sirius XM will generate more cash for Liberty, Maffei said last week. Its still below its target leverage rate, which we might increase. That could be put toward financing a Time Warner Cable deal.

Charter, meanwhile, is preparing a takeover offer of about $135 a share for Time Warner Cable, people familiar with the situation have said.

The Sirius deal would provide incremental capital for Liberty that would help it avoid being diluted in any deal between Charter and Time Warner Cable, Maffei said. Sirius has generated about $895 million in free cash flow over the past 12 months, data compiled by Bloomberg show.

Sirius shares have more than doubled over the past two years, fueled by a recovering auto market. A surge of car sales has increased the number of satellite-radio installations, helping lift Siriuss subscriber count to 25.6 million at the end of September.

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Sirius’s Shares Climb Above Buyout Offer From Malone’s Liberty

Malone’s Liberty Global said approaching deal to buy Ziggo

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FILE -- John Malone of Liberty Global (John Leyba, Denver Post)

Liberty Global PLC is putting the final touches on an acquisition of Dutch broadband provider Ziggo NV as the cable company expands its European operations, according to people with knowledge of the matter.

Liberty Global, controlled by Colorado billionaire John Malone, and Ziggo aim to announce a friendly deal as early as the middle of this month, and are hammering out a final acquisition price and other terms, the people said, asking not to be identified discussing private negotiations.

Ziggo's shares rose 3.6 percent in Amsterdam to 33.77 euro, valuing the company at about 6.75 billion euro or $9.2 billion.

Outstanding issues include determining whether Ziggo chief executive officer Rene Obermann, a former CEO of Deutsche Telekom AG who started this month, will stay at the Dutch company if it is bought by Liberty, the people said. Liberty Global already owns about 30 percent of Ziggo, which it has gradually amassed. The companies are also discussing how to protect jobs once Ziggo's operations are combined with Liberty Global's existing Dutch unit, UPC, the people said.

Malone has built a European cable and broadband empire through acquisitions in countries including the U.K. and Germany.

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Malone's Liberty Global said approaching deal to buy Ziggo

Nader has some Sirius issues with Liberty bid

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Consumer advocate Ralph Nader said Liberty Media Chairman John Malones offer to buy out the remaining stake in satellite radio company Sirius XM was ludicrous and called for activist investor Carl Icahn to take notice.

Nader, a Sirius shareholder, said on Monday that Libertys $3.68-a-share bid was below the $4 where the company was trading a few weeks ago.

I am sure that I along with other shareholders in Sirius XM will be interested in a legal challenge to John Malones company for lowballing Sirius XMs shareholder value, the 79-year-old consumer crusader said in a statement. Carl Icahn take notice and interest.

It was not immediately clear how many Sirius shares Nader owns. Nor was it clear whether Icahn is a shareholder of the company.

A spokeswoman for Liberty Media did not immediately respond to a request for comment.

Liberty Media, which already owns about half of the satellite-radio company, made an offer Friday valuing the rest at $3.68 a share, or about $10.6 billion.

The stock closed at $3.83 today in New York, more than 4 percent higher than the bid by Liberty, an investment company controlled by billionaire John Malone.

The reaction signals that Liberty may face opposition in getting investors to approve the current deal.

Greg Maffei, the companys chief executive officer, said last week that Liberty plans to tap the cash of Sirius to potentially finance other transactions, including a possible bid for Time Warner Cable.

Liberty Media is contemplating making a Time Warner Cable deal through another of its holdings, Charter Communications.

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Nader has some Sirius issues with Liberty bid


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