Liberty Digital ups its ACTV stake
-- Broadcasting & Cable, 4/10/2000
In another example of its good stock-picking so far, Liberty Digital bought an additional $20 million worth of ACTV Inc. stock at half price. Liberty Digital picked up 2.5 millions shares of the interactive TV company by exercising warrants its parent company, Liberty Media, picked up after a previous investment round last March when the company's stock was trading at less than half its $29 closing price Monday. The deal lifts Liberty Digital's stake from 12% to 16%. Liberty Media started investing in ACTV when the company's stock was trading around $3 per share.
