AT&T to Spin Off Liberty Media

Publish date:


(T) - Get Report

board voted to spin off

Liberty Media Group


, which it acquired through the acquisition of

TeleCommunications Inc.

, providing the company receives a favorable tax ruling from the

Internal Revenue Service


AT&T expects to convert the Liberty Media tracking stock into an asset-based security and launch the company as an independent, publicly traded entity in the second quarter of 2001.

AT&T said the spinoff is consistent with its recent decision to restructure into four companies.