Liberty Media To Spin Off Starz

Law360, New York (August 8, 2012, 12:41 PM EDT) -- Liberty Media Corp. will spin off its Starz premium cable business to create two publicly traded companies, the company said Wednesday, the latest in a decade of spinoffs, acquisitions, tracking stocks and share conversions for John C. Malone's media empire.

Liberty's assets and liabilities will be put in a new company whose shares will be distributed to its existing shareholders. Starz will take its subscription movie business, about $1.5 billion in debt and an undetermined amount of cash.

Starz had been a Liberty Media tracking stock...
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