Malone To Pay $1.4 Million - Broadcasting & Cable

Malone To Pay $1.4 Million

Fine stems from Discovery share buys
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Liberty Media chairman John Malone was fined $1.4 million by the U.S. Dept. of Justice on Tuesday, stemming from the media mogul's accumulation of voting shares in Discovery Holding Co.

The DOJ's Antitrust Division, at the request of the Federal Trade Commission, filed a civil antitrust suit today in U.S. District Court in Washington, D.C. against Malone for violating the notification requirements of the Hart-Scott Rodino Act of 1976. At the same time, DOJ filed a proposed settlement that if approved by the court, will settle the charges. Malone has already agreed to the settlement.

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