Liberty Media Offloads OpenTV Interest

CHESEAUX/ENGLEWOOD, October 20: The Kudelski Group, which
specializes in digital security systems, has reached a deal to acquire a controlling
interest in the interactive television technology outfit OpenTV from Liberty
Media for $132.3 million.

OpenTV is a provider of set-top box middleware for cable,
satellite, and IPTV platforms, with more than 73 million deployments in 96
countries. The software enables the delivery of digital and interactive
television, including enhanced content, interactive and addressable
advertising, games and gaming and personal video recording. Its customer base
includes EchoStar and Time Warner in the U.S.; BSkyB, TPS, UPC and SKY Italia
in Europe; and StarHub, FOXTEL and Essel in Asia. The deal allows Kudelski to
expand its offerings beyond content protection technology under the Nagravision
brand into on-demand services, interactive applications, and enabling
technologies for enhanced and interactive advertising.

Andre Kudelski, the chairman and CEO of Kudelski, noted,
"Clients increasingly demand turnkey solutions. With this transaction we
can more closely align Kudelski's Nagravision systems integration know-how and
security with OpenTV's scalable and market proven middleware and their emerging
interactive advertising solutions. The transaction allows us to be more
responsive to clients that want either combined systems solutions or only parts
of the system, such as only conditional access or middleware, providing them
with a better choice and service. Meanwhile both OpenTV and Nagravision will
continue to support respectively other third party conditional access systems
and middleware when specified by their customers."

Following the closing of this transaction, directors
designated by the Kudelski Group will comprise the majority of the board of
directors of OpenTV. André Kudelski will become chairman of the board and Jim
Chiddix will assume the role of vice chairman. The Kudelski Group expects to
appoint as CEO of OpenTV Alan Guggenheim, currently EVP of the Kudelski Group
and CEO of NagraStar, a joint venture between the Kudelski Group and EchoStar.

The Class A and Class B ordinary shares to be acquired collectively
represent approximately 26.7 percent of the economic interest and 74.7 percent
of the voting interest of OpenTV’s ordinary shares outstanding as of 30
September 2006. The parties expect the transaction will close by the end of the
first quarter 2007.