Liberty Media to buy $500 million of its Interactive series A common stock in Dutch auction

By Lisa Kerner

Charlotte, N.C., May 9 - Liberty Media Corp. plans to begin a Dutch auction self-tender offer within the next five business days to purchase up to $500 million of its Liberty Interactive series A common stock priced from $23.75 to $25.75 per share.

The low end of the per-share price range represents a 0.3% discount, and the high end represents an 8.1% premium to the series A closing share price on May 8, a company news release stated.

Liberty said the offer is subject to a number of terms and conditions and the company is not making a recommendation to its stockholders on tendering their shares.

The Englewood, Colo., company owns interests in electronic retailing, media, communications and entertainment businesses.

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