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TCI LOOKS TO GIVE LIBERTY ITS FREEDOM AGAIN
Published May 30, 1995
Less than ten months after recombining TCI with his Liberty Media programming company, TCI Chair John Malone is looking to split the two entities again, according to Allan Sloan in the current NEWSWEEK. Liberty's holdings include Prime and Prime's regional sports channels, as well as TCI's 24% share in Turner Broadcasting. The split would not be in the form of two companies, but "two separate targeted stocks" -- one called TCI and one Liberty. The idea, according to Sloan: "The cable and programming stocks will fetch a higher total price than TCI, which trades at its 1989 price level. ... Having become a major TCI shareholder with his Liberty machinations, [Malone is] trying to goose TCI's share price by carving up the company's stock without carving up the company. If that works, TCI will be better able to fight the phone companies" (NEWSWEEK, 6/5 issue).