Despite the liklihood that he will leave AT&T's board of directors, Liberty Media Chairman John Malone said that he has "no differences" with AT&T Chairman Mike Armstrong.
AT&T acknowledged that Malone would probably exit after the telco completes its planned spinoff of Liberty, which is currently a tracking stock subsidiary. The Wall Street Journal reported Friday that regulatory and tax complications would probably prompt Malone to resign his seat, even though he is currently the largest AT&T individual shareholder, owning to the shares he got in AT&T's stock swap acquisition of Malone's Tele-Communications Inc.
But Malone denied that he is clashing with Armstrong or his management of AT&T or its cable unit. "As a member of the AT&T Board, I voted for AT&T's strategy. And I continue to fully support Mike and his executive team," Malone said in a statement.
- John Higgins