Liberty Interactive Plans to Split Into Two Tracking Stocks
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John Malone’s Liberty Interactive Corp., the media company that owns stakes in QVC Inc., AOL Inc., Time Warner Inc. and others, said it plans to split its shares into two tracking stocks.
The Liberty Interactive tracking stock will include Liberty’s interests in home-shopping services QVC and HSN Inc., as well as QVC bonds and $1.1 billion of Liberty’s publicly traded senior notes and debentures, the company said today. Liberty Ventures will include interests in Expedia Inc., Time Warner, Time Warner Cable Inc. and AOL as well as $1.25 billion of cash and $3 billion of Liberty’s publicly traded debentures.