Malone’s Liberty Media Plans to Spin Off Starz Cable Channel
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Liberty Media Corp., the holding company controlled by billionaire John Malone, plans to spin off its Starz LLC premium cable channel, making it easier for investors to bet directly on the HBO competitor.
The newly created public company will have about $1.5 billion in debt and an undetermined amount of cash, according to a statement today. The spinoff, expected later this year, will be tax-free to Liberty Media shareholders.