John Malone: Weaving A New Web

Three weeks after closing the sale of Tele-Communications to AT&T, John Malone was dealing again. On Apr. 5 and 6, his holding company, Liberty Media, bought a chunk of set-top-box maker General Instrument and swapped shares in Fox Sports to nail down an 8% chunk of News Corp.--to go with its 9% stake in Time Warner, 21% in USA Networks, and 43% share of shopping giant QVC.

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