Liberty to Spin Off Entertainment Arm

ENGLEWOOD, September 3:
John Malone’s Liberty Media has announced plans to spin off its Liberty
Entertainment business, which will become a publicly traded entity encompassing
50 percent of The DIRECTV Group and 100 percent of Starz Entertainment, among
other assets.

Liberty Entertainment will
also encompass 100 percent of FUN Technologies and Liberty Sports Holdings, 50
percent of the cable network GSN and 37 percent of WildBlue
Communications.

"We believe converting
the Liberty Entertainment tracking stock to an asset-backed security will
create a stronger currency and allow greater flexibility to pursue our
strategic objectives," said Greg Maffei, the president and CEO of Liberty.

—By Mansha Daswani