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Liberty Media plans exchange offer for 3.125% exchangeables due 2023
By Angela McDaniels
Tacoma, Wash., June 21 - Liberty Media Corp. plans to offer new debt securities in exchange for Liberty Capital Group's 3.125% exchangeable senior debentures due 2023, according to a company news release.
The new debt securities will be issued by a new company to be formed from the Liberty Capital and Liberty Starz tracking stock groups. Liberty Media is splitting off these groups from its Liberty Interactive tracking stock group.
The split-off is expected to occur in late 2010 or early 2011.
Englewood, Colo.-based Liberty Media owns interests in electronic retailing, media, communications and entertainment businesses.
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