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Article: Liberty Media Corporation Withdraws Proposal to Acquire Remainder of Liberty Satellite & Technology, Inc.
- Article from:
- PR Newswire
- Article date:
- December 4, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ENGLEWOOD, Colo. -- Liberty Media Corporation today announced that it has withdrawn its October 12, 2001 proposal made to the Board of Directors of Liberty Satellite & Technology, Inc. (BULLETIN BOARD: LSATA, LSATB) to acquire all of the issued and outstanding shares of LSAT that Liberty Media does not already own.
Liberty Media and LSAT also announced that they would proceed with the previously announced transaction in which Liberty Media agreed to contribute its 100% ownership interest in Ascent Entertainment Group, Inc., and its 89% ownership interest in Liberty Satellite, LLC, in exchange for 340,000,000 shares of Liberty Satellite & Technology, Inc. ...