New York -- Hotel video-on-demand provider Liberty Satellite & Technology
Inc. reportedly said on Wednesday that majority owner Liberty Media Corp. would
buy the 13 percent of the company it doesn't already own for about $21.7
Reuters reports that Liberty Media, led by cable mogul John Malone, is
offering $3.30 for each Liberty Satellite share, a 61 percent premium from where
the shares closed on the over-the-counter Bulletin Board on Wednesday.
Liberty Satellite, based in Englewood, Colorado, provides in-room programming
through operating subsidiary On Command Corp. for approximately 900,000 hotel
rooms, mostly in the United States.