Liberty Media Buys Back $417M Of Its Stock From Comcast

Law360, New York (October 10, 2013, 3:51 PM EDT) -- Liberty Media Corp. bought back 5.2 percent of its own outstanding shares from Comcast Corp. in exchange for a Liberty subsidiary, a revenue sharing agreement and a total sum of $417 million in cash, the company announced Wednesday.

Liberty also agreed to sell $500 million worth of SiriusXM shares back to that company and announced a plan to offer $500 million in convertible senior notes, according to Liberty.

The company didn't immediately give a reason for the transactions and didn't respond to requests for comment....
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