Liberty Media plans new tracking stock
Staff And Wire Reports
Published February 29, 2008 at 12:05 a.m.
Douglas County-based Liberty Media Corp. said Thursday it expects to launch a third tracking stock next week that includes the newly acquired 41 percent interest in DirecTV.
The new Liberty Entertainment tracking stock is expected to begin trading Tuesday under the ticker "LMDI" on Nasdaq.
Chief Executive Officer Greg Maffei said he believed DirecTV's management is on track and "we believe in the strength of the satellite platform" in delivering high-definition video.
Maffei also said the company is interested in acquiring e-commerce businesses valued from $50 million to $5 billion.
Liberty Media also reported continued sluggish growth for its shopping channel QVC, with sales up only 4 percent to $2.3 billion for the fourth quarter and profits off 5 percent.
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