It looks like Liberty Media Corp. is interested in making its investment in
Liberty Satellite & Technology Inc. an exclusive transmission.
The Englewood, Colo.-based media conglomerate has fielded a proposal to
Liberty Satellite to acquire all of the shares of the subsidiary that it does
not already own.
Under the proposal, LSAT stockholders would receive 0.2131 shares in Liberty
Media series-A common stock for each of their LSAT common stocks. The
transaction would also not be taxable to LSAT stockholders.
LSAT's board of directors has established a committee to review the proposal,
and it intends to hire legal and financial advisors to study the matter