Malone Buys Discovery Holding Stock
Chairman Acquires More than 130,000 Shares
By Jon Hemingway -- Broadcasting & Cable, 10/1/2007 2:04:00 PM MT
Discovery Holding chairman John Malone acquired more than 130,000 shares of the company’s series-B stock in a series of transactions last week totaling about $3.6 million.
According to a Securities and Exchange Commission filing Monday, Malone bought 54,805 shares of the stock in five separate transactions Friday ranging in price from $29.15-$29.25 per share. On Monday, Sept. 25, Malone bought 76,200 shares in 23 separate transactions ranging in price from $27.38-$28.10.
On Sept. 21, Discovery Holding disclosed that it was in preliminary discussions with Advance/Newhouse Communications to swap the latter’s 33% stake in Discovery Communications Holding for shares in Discovery Holding.
Discovery Holding owns 66.7% of Discovery Communications.
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