Liberty Share Deal Hands Comcast $894m

05 December 2003

US cable giant Comcast will receive $894 million (€740m; £519m) in a share deal with Liberty Media.

Under the agreement, Liberty -- investment vehicle of cable entrepreneur John Malone -- will pay the money upfront. When the deal matures in ten years' time, Comcast will hand over between 71.4m and 100m shares (depending on the stock price at the time) or cash equivalent.

Comcast -- America's largest cable operator -- gained 218m Liberty shares when it sold its stake in shopping channel QVC [WAMN: 08-Jul-03].

Data sourced from: The Wall Street Journal Online; additional content by WARC staff