Malone Explains News Corp. Move
- Share via
From Bloomberg News
Liberty Media Corp. Chairman John Malone said his company’s plans to raise its voting stake in News Corp. were “entirely friendly.”
News Corp. adopted an anti-takeover defense Monday after Liberty announced a swap transaction last week that would allow it to buy $1.5 billion in News Corp. stock.
Malone said he didn’t tell News Corp. Chairman Rupert Murdoch beforehand because he believed that would have violated securities laws.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
