SBD/30/Sports Media

TCI LOOKS TO GIVE LIBERTY ITS FREEDOM AGAIN

     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).
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Related Topics:

Cablevision, New York Liberty, Media

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