Liberty ups stake in News Corp

US cable group Liberty Media Corp has acquired a further 9.15% voting interest in Rupert Murdoch's

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.

More in this section

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up