Maffei: Liberty Entertainment Split Remains "Preferred Path"

At UBS Global Media & Communications Conference, Liberty Media CEO Greg Maffei says transaction never materialize.

New York -- Although delayed, Liberty Media’s plans to split off its Liberty Entertainment tracker is still the preferred path for the company, Liberty CEO Greg Maffei said at an industry conference here Wednesday, while also hedging that the transaction may never materialize.

Liberty announced in September its plans to split off Liberty Entertainment, the tracking stock that includes its Starz Entertainment premium network, its stake in satellite TV giant DirecTV, FUN Technologies, Liberty Sports Holdings, and its interests in cable network GSN and wireless broadband provider WildBlue Communications. But the deal has been placed on indefinite hold as the economy and the stock market have tanked over the past few months.

At the UBS Media and Communications conference here, Maffei said that the split off “remains our desired path,” adding that if the company had another plan they would have announced it already. But still, Maffei cautioned that with the current condition of the markets, “we can’t take off the table that it might not get done.”

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