News Liberty Media to Spin Off Starz (Updated)
posted on 2013-01-09 23:19 EST
Liberty Media's John Malone announced that its Starz, LLC will become two companies with two separate classes of stock. The Federal Trade Commission (FTC) signed off on the split which was previously announced in August.
As of January 11, investors in Liberty Media will receive Starz stock as dividends while Starz assets remain in control of Liberty Media. Liberty Media will also change its name to Starz. Liberty's interests in entities such as Sirius XM, Barnes & Noble, Time Warner, and Viacom will fall under the new, second company called Liberty Spinco.
Liberty Spinco shares will be distributed to Liberty Media shareholders on January 14, before it officially changes its name to Liberty Media.
Thanks to Daniel Zelter for the news tip
Update: Manga Entertainment is a subsidiary of Starz Media.
Update 2: Starz Media provided ANN with the following statement regarding the change:
Operations for Manga Entertainment, a business unit of Starz Digital Media, remain unchanged. Starz Digital Media is a business of Starz.
this article has been modified since it was originally posted; see change history