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Liberty Sets May Date for Spin-Off Vote

DENVER — Liberty Media Corp. has set May 23 as
the date for a special shareholder vote regarding
the planned spin-off of its Liberty
Starz and Liberty Capital tracking
stocks, according to a proxy statement
filed April 18.

Liberty first proposed spinning
off Liberty Capital (which includes
several passive investments in
media companies and a controlling interest in Major
League Baseball’s Atlanta Braves) and Liberty Starz,
which includes the Starz LLC premium channels,
in 2010. While Liberty Capital and Liberty Starz will
remain tracking stocks after the deal is complete,
Liberty Interactive — which includes QVC Inc., Provide
Commerce, Backcountry.com, Buyseasons, Bodybuilding.com, and interests in IAC/InterActiveCorp and Expedia
— would become an asset-backed stock.

The moves are part of an ongoing effort to simplify
Liberty’s structure. The media giant had first proposed
the special shareholders meeting on March 31 and
later postponed it to April. That meeting was again
postponed, mainly because of uncertainties concerning
litigation with one of its banks — Bank of New York
Mellon Trust Co. — that had tried to block the split.
A trial was held in Chancery Court in Delaware during
the week of Feb. 21 and Liberty is currently awaiting a
decision, according to the proxy statement.

Liberty plans to redeem all shares of Liberty Capital
and Liberty Starz and them exchange those shares for
new stock in a new entity, tentatively titled “Splitco.”
That redemption requires the approval of the majority
of the voting power of both Liberty Starz and Liberty
Capital. After the exchange is completed, Liberty Capital
and Starz will remain tracking stocks.

Dish to Keep Some Blockbuster Stores Open

ENGLEWOOD, COLO. — Just days before its $320 million
purchase of Blockbuster is expected to close,
Dish Network has assumed leases for as many as
600 of the video-rental giant’s retail locations, leaving
more than 1,000 stores possibly headed for the
chopping block.

Dish Network won a one-day bankruptcy court auction
for Blockbuster on April 6, beating out bids from
activist investor Carl Icahn and a group of bondholders
led by hedge fund Monarch Alternative Capital.
The deal was expected to close April 21.

In announcing its winning bid, Dish said the
stores, the Blockbuster brand and its “multiple
methods of delivery” would complement Dish’s
existing video offerings. Some analysts have speculated
that Blockbuster’s library of content and its
online video-streaming capabilities could augment
Dish’s video-on-demand offerings.

According to reports in the Dallas Morning News
and The Wall Street Journal, Dish has assumed
leases for between 500 and 600 Blockbuster
stores, according to bankruptcy court documents.
According to some people familiar with the bankruptcy,
Dish is still evaluating the leases. Blockbuster
currently has about 1,700 retail stores.

Dish declined to comment on the reports.

Mediacom Names Templin to Head Business Unit

MIDDLETOWN, N.Y. — Mediacom Communications
said it promoted Daniel Templin to senior vice
president, in charge of its commercial services
unit Mediacom Business.

Templin, who has served in various roles at Mediacom
since 2008, is a 23-year industry veteran.
He will lead the newly formed Mediacom Business
team to offer voice, video and data service to
small and medium-sized customers.

“Since joining Mediacom, Dan has successfully led
a number of major initiatives, including the expansion
of our commercial product line and the development
of Mediacom’s voice services, DOCSIS 3.0 platform
and multi-room DVR,” Mediacom chairman and CEO
Rocco Commisso said in a statement.

Templin joined Mediacom in 2008 as group vice
president of strategic marketing and product development.
Immediately prior to joining Mediacom,
he served as senior vice president of marketing for
YTI Career Institute.

Previously, he worked as senior vice president of
marketing and product management for Susquehanna
Communications and also held various management
positions with Comcast and Jones Intercable. In his
new role, Templin will represent Mediacom on the business-
services groups within CableLabs and the Cable
& Telecommunications Association for Marketing.