Hewlett-Packard Sees $8B Impairment Charge for Services Segment <\/p>\n
By Cecile Daurat - 2012-08-08T11:38:52Z <\/p>\n
Liberty Media Corp. (LMCA), the company controlled by billionaire John Malone, plans to spin off its Starz business to unlock growth opportunities at the cable- programming unit. <\/p>\n
The separate public company will consist of 100 percent of Starz, about $1.5 billion in debt and an undetermined amount of cash, according to a statement today. The spinoff will be tax- free to shareholders of Englewood, Colorado-based Liberty Media and is expected to occur late this year. <\/p>\n
Liberty Media has used tracking stocks and financial transactions over the years to pursue tax benefits and make its diversified assets more attractive to shareholders. They included the separation of Liberty Interactive (LINTA), owner of the shopping network QVC. <\/p>\n
Starz, creator of the series Boss, had 20.7 million subscribers at the end of the second quarter. Left in Liberty Media after the split will be assets including the Atlanta Braves baseball team, stakes in Sirius XM Radio Inc. (SIRI) and Live Nation Entertainment Inc., as well as investments in Barnes & Noble Inc. (BKS), Time Warner Inc. (TWX) and Viacom Inc. (VIAB) <\/p>\n
Malone said last month that his effort to take control of Sirius will eventually lead to a spinoff of the largest U.S. satellite-radio company. <\/p>\n
To contact the reporter on this story: Cecile Daurat in Wilmington at cdaurat@bloomberg.net<\/a> <\/p>\n To contact the editor responsible for this story: Kevin Miller at kmiller@bloomberg.net<\/a> <\/p>\n<\/p>\n Go here to see the original: Hewlett-Packard Sees $8B Impairment Charge for Services Segment By Cecile Daurat - 2012-08-08T11:38:52Z Liberty Media Corp. Continue reading
\nLiberty Media Plans to Spin Off Cable Unit Starz<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"