Liberty Media Looks to Raise $309M
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ENGLEWOOD, Colo. (AP) _ Liberty Media expects to raise about $309 million from shareholders, it said Tuesday in a regulatory filing.
``We have an ongoing need for cash to take advantage of business opportunities as they arise,″ the company said in a filing with the Securities and Exchange Commission. It did not name any deals under consideration.
Liberty said it plans a rights offering, in which existing stockholders can buy shares at a discount.
This summer, Liberty agreed to acquire the outstanding capital stock of Casema Holding B.V., the third-largest cable operator in the Netherlands. The deal also called for Liberty to assume about $783 million debt Casema owed France Telecom.
Liberty also acquired Wink Communications in a $100 million cash transaction, dealt it to OpenTV and then acquired a controlling stake in OpenTV. Wink and OpenTV are interactive television companies.
When Liberty split from AT&T last year, it said it intended to issue $500 million in equity.
Liberty shares closed up 28 cents Tuesday at $6.57 on the New York Stock Exchange.
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