Liberty takes stakes, all over
By BroadCasting & Cable Staff -- Broadcasting & Cable, 4/2/2000 8:00:00 PM
Liberty Media Corp. aggressively picked off properties last week, taking stakes in Primedia and voice and data company IDT and closing its cash tender on hotel video-on-demand provider Ascent.
Liberty' s Internet division, Liberty Digital (LDIG) also took a piece of electronic convenience store Kozmo.com.
Liberty Media agreed to invest $200 million in print and Internet publisher Primedia in exchange for 800 million newly issued shares totaling a 5% stake in the company. In addition, Liberty Digital will receive an option to take a 12.5% stake in Primedia's just-formed broadband video unit "at fair market value," for cash or stock.
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