US cable group Liberty Media Corp has acquired a further 9.15% voting interest in Rupert Murdoch's
media conglomerate, News Corp.
Liberty Media group swapped swapped millions of non-voting preference shares for ordinary voting
shares and paid $693m (€546m) to take the stake.
The media giant, which is controlled by tycoon John Malone, ended up with a total stake - including non-voting shares - of 17%, giving it the second-largest voting stake in News Corp.
However, News Corp spokesman Andrew Butcher said yesterday's move was "not at all" a hostile gesture by Liberty. "Liberty is a long time shareholder of News Corp and has always been a welcome shareholder," he said.
Liberty has holdings in the US, Europe, Latin America and Asia, including in home shopping channel QVC, cable channels Discovery, Encore and Starz.