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Friday, October 3, 2014

Liberty Interactive splits into cable shopping, e-commerce groups, (NASDAQ: LINTA), (NASDAQ: LVNTA)

Liberty Interactive said on Friday its board had approved splitting into two tracking stocks, one for its cable shopping business QVC Group and the other for its digital commerce, Liberty Digital Commerce. Uner the deal, Liberty Ventures Group will receive $1 billion in cash while Liberty Interactive shareholders will receive about 67.7 million shares of Liberty Ventures stock, or about 0.14 Liberty Ventures share for each Liberty Interactive share held.John Malone, the chairman of Liberty Interactive who also runs Liberty Media Corp, is well known for buying and selling cable and media companies.The company had said in October last year that it would split into the two tracking stocks.The company, which suspended its stock repurchase activity in September, said it would reevaluate the resumption of its repurchases after its third quarter earnings.

Liberty Interactive Corporation owns interests in subsidiaries and other companies which are primarily engaged in the video and on-line commerce industries. Shares of LINTA traded higher by 0.9% or $0.25/share to $28.13. In the past year, the shares have traded as low as $22.83 and as high as $30.68. On average, 1734300 shares of LINTA exchange hands on a given day and today's volume is recorded at 1318554.

Liberty Interactive Corporation owns interests in subsidiaries and other companies which are primarily engaged in the video and on-line commerce industries. Shares of LVNTA traded higher by 2.14% or $0.77/share to $36.76. In the past year, the shares have traded as low as $20.10 and as high as $39.95. On average, 604664 shares of LVNTA exchange hands on a given day and today's volume is recorded at 1500300.



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