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Liberty Media Boosts Stake in News Corp.
Media mogul John Malone has upped his voting stake in the empire controlled by media baron Rupert Murdoch.
The Malone-controlled Liberty Media (L Quote) said Wednesday it had acquired a 9.15% voting interest in the Murdoch-controlled News Corporation (NWS Quote).
Liberty didn't immediately explain why the company chose to convert some of its nonvoting shares into voting stock. Perhaps Liberty, which has long been an investor in News Corp. and other media companies, has a sudden desire to throw its weight around.
Yet it's also possible, judging from a quick, back-of-the-envelope analysis of the transaction, that Liberty is buying the voting stock simply because it can get a good deal in the shares. ...
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