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Liberty Seeking Cox Portion of Discovery

By John M. Higgins -- Broadcasting & Cable, 11/17/2003 5:32:00 AM

Liberty Media Corp. president Robert Bennett acknowledged that his company has discussed buying Cox Communications Inc.’s stake in Discovery Communications Inc., but Cox hasn’t been inclined to sell.

Asked about Cox’s 24.5% stake in Discovery during Liberty’s earnings conference call, Bennett said, "We always are interested" in adding to Liberty’s 49% Discovery stake. "We in fact have discussed with them from time to time but we don’t control, you know, what circumstance would bring them to that."

He added that any deal "is going to be a matter of time and a matter really of Cox reaching a conclusion that they would rather sell."

Cox’s stake is worth around $2.6 billion.

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