American TV distributor Liberty Media has held talks with competitor News Corp about selling the stake it built up in the television and newspaper company this November.
Robert Bennett, chief executive of Liberty told investors at a recent conference in New York that “there have been some conversations” between his company and News Corp.
Analysts predicted that Liberty would try to dispose of its stake in News Corp, which had dramatically increased last month from 9% to 17%.(see News Corp Puts Plans In Place To Stop Potential Take-Over Bids)
It is thought that Liberty, owned by John Malone, wants some cash and some businesses from News Corp and therefore the two parties could agree to a “cash-rich split-off deal”.
Rupert Murdoch, owner of News Corp has been reluctant to comment on the situation.
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