Liberty Media Corporation (commonly referred to as Liberty Media or just Liberty) is an American

mass media Mass media refers to a diverse array of media technologies that reach a large audience via mass communication. The technologies through which this communication takes place include a variety of outlets. Broadcast media transmit informati ...

company A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared ...

controlled by chairman John C. Malone. The company has three divisions, reflecting the company's ownership stakes in

Formula One Formula One (also known as Formula 1 or F1) is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The World Drivers' Championship, ...

SiriusXM Sirius XM Holdings Inc. is an American broadcasting company headquartered in Midtown Manhattan, New York City that provides satellite radio and online radio services operating in the United States. It was formed by the 2008 merger of Sirius Sa ...

, and the

Atlanta Braves The Atlanta Braves are an American professional baseball team based in the Atlanta metropolitan area. The Braves compete in Major League Baseball (MLB) as a member club of the National League (NL) East division. The Braves were founded in ...

Major League Baseball Major League Baseball (MLB) is a professional baseball organization and the oldest major professional sports league in the world. MLB is composed of 30 total teams, divided equally between the National League (NL) and the American League (A ...

team.

History

The 1990s

Liberty Media began in 1991 as a

spin-off Spin-off may refer to: *Spin-off (media), a media work derived from an existing work *Corporate spin-off, a type of corporate action that forms a new company or entity * Government spin-off, civilian goods which are the result of military or gov ...

of TCI, an American cable-television group. Peter Barton, hired by TCI's Malone, served as president until retiring in April 1997. The company took over TCI assets considered to have little value, but Barton completed "a deal every ten days for six years" and made the company a big success. Liberty was merged back into TCI in the mid-1990s. On March 13, 1998, Liberty Media Group and TCI Group announced the merger of

Encore An encore is an additional performance given by performers after the planned show has ended, usually in response to extended applause from the audience.Lalange Cochrane, in ''Oxford Companion to Music'', Alison Latham, ed., Oxford University Pre ...

and

STARZ! Starz (stylized as STARZ since 2016; pronounced "stars") is an American premium cable and satellite television network owned by Lions Gate Entertainment, and is the flagship property of parent subsidiary Starz Inc. Programming on Starz consis ...

into a single company—Encore Media Group, owned by Liberty. Encore was taking advantage of the growth of

digital cable Digital cable is the distribution of cable television using digital data and video compression. The technology was first developed by General Instrument. By 2000, most cable companies offered digital features, eventually replacing their previ ...

, while TCI, which had previously owned twenty percent of Encore, was more interested in traditional cable. After U.S. Department of Justice approval that required TCI to sell its 23.5% interest in Sprint Corporation PSC, TCI was acquired by

AT&T AT&T Inc. is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world's largest telecommunications company by revenue and the third largest provider of mobile ...

on March 9, 1999 for approximately $48 billion. Liberty Media merged with TCI Ventures Group LLC (TCIVA), TCI's telephone and Internet businesses, and the resulting company became part of AT&T, giving Liberty Media $5.5 billion to repurchase stock or buy other companies. AT&T bought the other TCI businesses— @Home Corp., National Digital Television Center and Western Tele-Communications Inc.—for $2.5 billion in cash. TCI chairman Malone, who became head of the new company, said buyers would not want all of TCI, but they would be interested in Liberty Media. Malone wanted to start a finance unit similar to

GE Capital GE Capital is the financial services division of General Electric. The company currently only runs one division, GE Energy Financial Services. It had provided additional services in the past; however, those units were sold between 2013 and 2018. ...

, which could start new cable or Internet services. TCI had already planned

set-top boxes. On September 28, 1998, Liberty Media announced the formation of Liberty Interactive, a company which would take advantage of new technologies such as set-top boxes to develop

interactive Across the many fields concerned with interactivity, including information science, computer science, human-computer interaction, communication, and industrial design, there is little agreement over the meaning of the term "interactivity", but mo ...

programming. The company would own 86% of TCI Music Inc. (

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

symbol: TUNE/TUNEP). As of January 1, 1999,

E! Entertainment E! (an initialism for Entertainment Television) is an American basic cable channel which primarily focuses on pop culture, celebrity focused reality shows, and movies, owned by the NBCUniversal Television and Streaming division of NBCUnivers ...

President and chief executive officer Lee Masters would become the new company's CEO, and Bruce Ravenel would be Chief Technology Officer. On September 10, 1999, Liberty Media Group renamed TCI Music to Liberty Digital Inc. (NASDAQ symbol: LDIG), with the new company trading on NASDAQ's National Market tier, after Liberty Media traded most of its Internet content, interactive television assets, and rights to provide AT&T's cable systems with interactive services, in addition to cash and notes valued at $150 million, for TCI Music stock. Masters, who became Liberty Digital's CEO, told ''

The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' that the new company had a value of $1 billion, $650 million of that from the interactive unit of Liberty Media, which had also used the name Liberty Digital. Liberty Digital lost $244 million with revenue of $66 million in 1999, thanks to investments in struggling Internet businesses homegrocer.com,

drugstore.com drugstore.com was an internet retailer in health and beauty care products. Its web operations were launched on February 24, 1999, and shut down on September 30, 2016 after being acquired by Walgreens in March 2011 for $409 million. In June 19 ...

TiVo TiVo ( ) is a digital video recorder (DVR) developed and marketed by Xperi (previously by TiVo Corporation and TiVo Inc.) and introduced in 1999. TiVo provides an on-screen guide of scheduled broadcast programming television programs, whose fea ...

and

iVillage iVillage, Inc. was a mass media company that operated the ”most popular female-oriented sites” on the internet in the 1990s. In addition to ivillage.com, the company operated iVillage UK, Astrology.com, GardenWeb, and the NBC Digital Health ...

. The company bought half of the

Game Show Network Game Show Network (GSN) is an American basic cable channel owned by Sony Pictures Television. The channel's programming is primarily dedicated to game shows, including reruns of acquired game shows, along with new, first-run original and revive ...

because of its interactive features. On December 17, 1999, TCI Satellite Entertainment Inc. (TSAT), based in Englewood,

Colorado Colorado (, other variants) is a state in the Mountain West subregion of the Western United States. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the western edge of the ...

, announced that Liberty Media was trading its interest in Sprint PCS for $300 million in TCI Satellite

preferred stock Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt inst ...

. A new company, 90% owned by Liberty Media and 10% owned by TCI Satellite, would combine the satellite-related businesses and take advantage of the growing area of Internet content. Liberty Media president and CEO Robert R. Bennett said the deal would benefit stockholders of both companies. Another new company was Liberty Livewire, formed from

Todd-AO Todd-AO is an American post-production company founded in 1953 by Mike Todd and Robert Naify, providing sound-related services to the motion picture and television industries. For more than five decades, it was the worldwide leader in theater s ...

and two other companies by Liberty Media, which provided audio and video post-production services. David Beddow of TCI became CEO.

The 2000s

Liberty Media's

Discovery Channel Discovery Channel (known as The Discovery Channel from 1985 to 1995, and often referred to as simply Discovery) is an American cable channel owned by Warner Bros. Discovery, a publicly traded company run by CEO David Zaslav. , Discovery Chan ...

and QVC continued to do well, but the newer projects had problems and the company's stock price dropped by half. If AT&T agreed to spin off Liberty Media, new deals such as a possible News Corp. purchase of

DirecTV DirecTV (trademarked as DIRECTV) is an American multichannel video programming distributor based in El Segundo, California. Originally launched on June 17, 1994, its primary service is a digital satellite service serving the United States. I ...

would be easier because AT&T would no longer require federal approval to complete such deals. Liberty Media was spun off from AT&T on August 10, 2001. This was one of three possible actions to ensure federal approval of AT&T's $54 billion acquisition of MediaOne Group—the others were selling its 25.5% share of Time Warner Entertainment and dropping 11.8 million cable customers. Also in 2001, Liberty Media acquired the remainder of Liberty Digital and Liberty Satellite & Technology (formerly TCI Satellite). Both companies were independent spinoffs of TCI, though Liberty already owned 90% of both companies after the exchange for Sprint PCS stock. Being independent increased their asset values, but the stock prices of both dropped, negating any benefits. Liberty Media subsequently spent $5 billion on nine

German German(s) may refer to: * Germany (of or related to) **Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ge ...

regional cable networks. Apart from television distribution it held major interests in other groups. For example, it was the largest shareholder in News Corporation (though the founding

Murdoch family Members of the Murdoch family are prominent international media magnates and media tycoons with roots in Australia and the United Kingdom, along with their media assets in the United States. Some members have also been prominent in the arts ...

owns more

voting shares Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Comm ...

), and had a 4% stake in Time Warner. In June 2005, Liberty Media International combined with UnitedGlobalCom, creating

Liberty Global Liberty Global plc is a British-Dutch-American multinational telecommunications company with headquarters in London, Amsterdam and Denver. Its respective legal names are Liberty Global Plc, Liberty Global B.V. and Liberty Global, Inc., with ...

. In May 2006, Time Warner acquired Liberty Media's 50% stake in

Court TV Court TV is an American digital broadcast network and former cable television channel. It was originally launched in 1991 with a focus on crime-themed programs such as true crime documentary series, legal analysis talk shows, and live news cov ...

for $735 million. On May 16, 2006, IDT sold its IDT Entertainment division to Liberty Media "for all of Liberty Media's interests in IDT, $186 million in cash and the assumption of existing indebtedness". IDT Entertainment's assets and Starz Entertainment Group's line of premium television channels combined to produce content for all distribution platforms. Liberty negotiated an asset swap with News Corp. and Time Warner that would give it control of

and the

baseball team. On February 12, 2007, the deal was completed with Time Warner wherein Liberty would receive the Atlanta Braves and a group of craft magazines, along with $1 billion in cash in exchange for 60 million shares of Time Warner stock (valued at $1.27 billion as of market close on February 12, 2007). The deal was approved by

and then completed on May 16, 2007. On February 20, 2008, the

Federal Communications Commission The Federal Communications Commission (FCC) is an independent agency of the United States federal government that regulates communications by radio, television, wire, satellite, and cable across the United States. The FCC maintains jurisdicti ...

approved the exchange of 16.3% of News Corp. for 38.4% of DirecTV, an $11 billion deal that also gave Liberty sports networks in

Denver Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...

Pittsburgh Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...

and

Seattle Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region o ...

plus $550 million in cash. In April 2007, Liberty completed a purchase of Green Bay,

Wisconsin Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...

, television station

WFRV-TV WFRV-TV (channel 5) is a television station in Green Bay, Wisconsin, United States, affiliated with CBS. Owned by Nexstar Media Group, the station maintains studios on East Mason Street in Green Bay, and its transmitter is located north of Mor ...

, and

satellite station A broadcast relay station, also known as a satellite station, relay transmitter, broadcast translator (U.S.), re-broadcaster (Canada), repeater (two-way radio) or complementary station (Mexico), is a broadcast transmitter which repeats (or tran ...

WJMN-TV in

Escanaba Escanaba ( ), commonly shortened to Esky, is a port city in Delta County in the U.S. state of Michigan, located on Little Bay de Noc in the state's Upper Peninsula. The population was 12,616 at the 2010 census, making it the third-largest city i ...

Michigan Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and t ...

, which serves the Marquette, Michigan, market. The deal was part of a swap of 7.59 million shares of common stock in

CBS CBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainm ...

, the stations' owner, that was held by Liberty Media; in exchange for the stock, CBS gave Liberty the stations and $170 million in cash. Liberty announced plans in April 2011 to sell WFRV and WJMN to Nexstar Broadcasting Group for $20 million. On February 17, 2009, Liberty announced that it would invest up to $530 million into the struggling Sirius XM Radio Inc., in a structured deal that would help the satellite radio provider avoid filing bankruptcy protection by meeting its obligations. The deal provided two board seats for Liberty Media, and provided cash for operations and development, with a maturity date of December 2012 for the loan. On March 6, the two companies approved the second part of the deal, with Sirius XM getting $250 million immediately and Liberty receiving 12.5 million shares of preferred stock convertible into a 40% ownership of Sirius XM

common stock Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Comm ...

The 2010s

In 2010, Liberty Media announced that it would spin off Liberty Starz and Liberty Capital and keep

Liberty Interactive Qurate Retail Group (commonly known as Qurate Retail, Inc.) is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares. History 1998 launch by Liberty Media Liberty Interactive wa ...

. The spinoff took the name Liberty CapStarz, but renamed itself Liberty Media in 2011. On the

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...

list 2011, Liberty Media was ranked 224, moving up from 2010 when they were ranked 227. In May 2011, Liberty announced it was in talks to buy the

Barnes & Noble Barnes & Noble Booksellers is an American bookseller. It is a Fortune 1000 company and the bookseller with the largest number of retail outlets in the United States. As of July 7, 2020, the company operates 614 retail stores across all 50 ...

bookstore chain for $1.02 billion. It eventually bought a 16% stake in the form of preferred stock in Barnes & Noble for $204 million. On August 8, 2012, Liberty Media announced that it would spin off Starz into a separate publicly traded company. The spin-off of Starz Inc. was completed on January 15, 2013. The company agreed in March 2013 to pay $2.62 billion for 27.3% of

Charter Communications Charter Communications, Inc., is an American telecommunications and mass media company with services branded as Spectrum. With over 32 million customers in 41 states, it is the second-largest cable operator in the United States by subscribe ...

from Apollo Global Management, Oaktree Capital Management and Crestview Partners with the provision that Liberty would not increase its stake past 35% until after January 2016 but no more than 39.99%. By May 1, Liberty completed the transaction and placed four directors on Charter's board. In 2014, Liberty Media spun off TruePosition and its holdings in

into a new company, Liberty Broadband. In late 2016, Liberty Media agreed to buy the

Formula One Group The Formula One Group is a group of companies responsible for the promotion of the FIA Formula One World Championship, and the exercising of the sport's commercial rights. The Group was previously owned by Delta Topco, a Jersey-based company ...

for US$4.4 billion (£3.3 billion). The deal was finalized in January 2017 for a total of US$4.6 billion (£3.44 billion).

The 2020s

On November 17, 2022, Liberty Media announced that it would spilt off the Atlanta Braves and its associated real estate development project and the creation of a new Liberty Live Group tracking stock.

Divisions

Liberty has issued

tracking stock Tracking stock, also known as letter stock and targeted stock, is a specialized equity offering issued by a company that is based on the operations of a defined business within the larger organization (such as, for instance, a wholly owned subsi ...

s for each of the 3 divisions, and each tracking stock is in 3 different series (A, B and C) having different voting rights, meaning that the company's common stock trades under nine different stock symbols. Seven of the nine are listed on the

Nasdaq stock market The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

and two trade

over the counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid prescr ...

Braves Group

Liberty SiriusXM Group

Sirius XM Satellite Radio Sirius XM Holdings Inc. is an American broadcasting company headquartered in Midtown Manhattan, New York City that provides satellite radio and online radio services operating in the United States. It was formed by the 2008 merger of Sirius ...

(76%) *

Live Nation Entertainment Live Nation Entertainment, Inc. is an American global entertainment company and monopoly that was founded in 2010 following the merger of Live Nation and Ticketmaster. The company promotes, operates, and manages ticket sales for live entertain ...

Inc. (35%)

Formula One Group

* Associated Partners, L.P. (33%) * Braves Group (11%) * Clear Secure, Inc. (<1%) *

Drone Racing League The Drone Racing League (DRL) is a professional drone racing league that operates internationally. DRL pilots race view with identical, custom-built drones at speeds above 80 mph through three-dimensional courses. News publication ''Quartz'' de ...

(3%) * INRIX, Inc. (4%) * Kroenke Arena Company, LLC (7%) * Liberty Media Acquisition Corporation (20%) * Liberty Technology Venture Capital, LLC (80%) *

Meyer Shank Racing Meyer Shank Racing (formerly Michael Shank Racing) is an American auto racing organization that competes in the IndyCar Series and IMSA SportsCar Championship. History Atlantic Championship Michael Shank as an owner of Michael Shank Racing, ...

(30%) *

Tastemade Tastemade, Inc. a video network that offers food- and travel-related programming for online audiences.Spangler, TodYouTube Network Tastemade Raises $25 Million Led by Scripps, Liberty Media''Variety''. September 15, 2016.Spangler, TodApple TV Adds ...

(6%)

Former assets

* Court TV (now TruTV)—this was a 50% stake with Time Warner which bought the other 50% of Court TV on May 12, 2006, for $735 million. * Two CBS affiliates—

(Channel 5), in

Green Bay, Wisconsin Green Bay is a city in the U.S. state of Wisconsin. The county seat of Brown County, it is at the head of Green Bay (known locally as "the bay of Green Bay"), a sub-basin of Lake Michigan, at the mouth of the Fox River. It is above sea le ...

, and its semi-satellite, WJMN-TV (Channel 3), in

Escanaba, Michigan Escanaba ( ), commonly shortened to Esky, is a port city in Delta County in the U.S. state of Michigan, located on Little Bay de Noc in the state's Upper Peninsula. The population was 12,616 at the 2010 census, making it the third-largest city ...

, (under "WFRV and WJMN Television Station, Inc.") (Sold to Nexstar Broadcasting Group) * Starz Media—(75%);

The Weinstein Company The Weinstein Company (usually credited or abbreviated as TWC) was an American independent film studio, founded in New York City by Bob and Harvey Weinstein in March 2005. TWC was one of the largest mini-major film studios in North America pri ...

, (25%) Spun off as Starz Inc. on January 15, 2013. Acquired by

Lionsgate Lions Gate Entertainment Corporation, doing business as Lionsgate, is a Canadian-American entertainment company. It was formed by Frank Giustra on July 10, 1997, domiciled in Vancouver, British Columbia, Canada and is currently headquartered ...

on December 8, 2016. *

DirecTV Sports Networks AT&T Sports Networks, LLC (ATTSN) is a group of regional sports networks in the United States that primarily own and operate AT&T Sports Networks (founded in 2009, as Liberty Sports Holdings, later DirecTV Sports Networks, LLC). It is owned by W ...

: Owners of

FSN Pittsburgh AT&T SportsNet Pittsburgh is an American regional sports network owned by Warner Bros. Discovery through its sports unit as part of the AT&T SportsNet brand of networks and is an affiliate of Bally Sports. Headquartered in Pittsburgh, the cha ...

FSN Rocky Mountain AT&T SportsNet Rocky Mountain is an American regional sports network owned by Warner Bros. Discovery through its sports unit as part of the AT&T SportsNet brand of networks, and is an affiliate of Bally Sports. Headquartered in Denver, Colorado, ...

FSN Utah Root Sports Utah was an American regional sports network that was owned by the AT&T Sports Networks subsidiary of AT&T Inc., as part of the AT&T SportsNet brand of networks and is an affiliate of Fox Sports Networks. Headquartered in Salt Lake ...

, and

FSN Northwest ROOT SPORTS Northwest (stylized as ROOT SPORTS Northwest) is an American regional sports network owned as a 60/40 joint venture between the Seattle Mariners and Warner Bros. Discovery respectively, the latter of which operates it through its s ...

(now

AT&T SportsNet AT&T Sports Networks, LLC (ATTSN) is a group of regional sports networks in the United States that primarily own and operate AT&T Sports Networks (founded in 2009, as Liberty Sports Holdings, later DirecTV Sports Networks, LLC). It is owned by W ...

) * Liberty's 48% interest in

* Liberty's 50% interest in GSN (Game Show Network) *

FUN Technologies FUN Technologies was an online game company based in Toronto. Founded in 2002 by Canadian businessmen Lorne Abony and Andrew Rivkin, FUN grew to become the world's largest provider of online casual games and fantasy sports, with over 35 million ...

, including Fanball * Overture Films *

Starz Entertainment Starz Entertainment LLC., (doing business as Starz Inc., and founded as Encore Movie Group in 1991) is an American entertainment company that owns U.S. pay television channels, including the namesake Starz network, and a media distribution com ...

(including

Starz Starz (stylized as STARZ since 2016; pronounced "stars") is an American premium cable and satellite television network owned by Lions Gate Entertainment, and is the flagship property of parent subsidiary Starz Inc. Programming on Starz cons ...

and

) * Sportsnet (formerly CTV Sportsnet) (20%)—now wholly owned by

Rogers Media Rogers Media Inc., operating as Rogers Sports & Media, is a Canadian subsidiary of Rogers Communications that owns the company's mass media and sports properties, such as the Citytv and Omni Television terrestrial television stations, Sports ...

. * MacNeil/Lehrer Productions (67%)—sold to

WETA-TV WETA-TV (channel 26) is the primary PBS member television station in Washington, D.C. Owned by the Greater Washington Educational Telecommunications Association, it is a sister station to NPR member WETA (90.9 FM). The two outlets share stud ...

. * TruePosition, a company providing law enforcement and security agencies with positioning data. On September 3, 2008, Liberty Media decided to initiate the process of spinning off Liberty Entertainment to Liberty Media shareholders, leaving Malone with a majority ownership of the new company. On May 4, 2009, The DirecTV Group Inc. said it would become a part of Liberty's entertainment unit, part of which would then be spun off as a separate company called DirecTV. The new company would also acquire Liberty's one hundred percent interests in the three FSN networks and its 50% interest in GSN. The rest of the unit would be traded as Liberty Starz. Liberty would increase its share of DirecTV from 48 to 54%, with Malone and his family owning 24%. On May 4, 2009, Liberty announced that it would split off Liberty Entertainment, Inc., a subsidiary owning the three Fox Sports Net (FSN) channels (now Root Sports) acquired under the swap with News Corp. and Liberty's 65% interest in GSN, into a separate company that would merge with The DirecTV Group, reducing Liberty owner

John Malone John Carl Malone (born March 7, 1941) is an American billionaire businessman, landowner and philanthropist. He was chief executive officer (CEO) of Tele-Communications Inc. (TCI), a cable and media giant, for twenty-four years from 1973 to 1996. ...

's stake in DirecTV to 24%. The merger was completed on November 19, 2009, with The DirecTV Group and Liberty Entertainment becoming subsidiaries of a new company named DirecTV. On June 16, 2010, Malone exchanged his

in DirecTV with equivalent amounts of

, reducing his voting interest in the company from 24% to 3%, with Malone resigning as chairman and ending his managerial role at DirecTV.

References

External links

* {{Authority control, state=expanded American companies established in 1991 Mass media companies established in 1991 Douglas County, Colorado Companies based in Colorado Corporate spin-offs Conglomerate companies of the United States Holding companies of the United States Companies listed on the Nasdaq Film production companies of the United States Internet service providers of Puerto Rico Atlanta Braves owners Formula One Companies traded over-the-counter in the United States