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Cultura

Liberty Media plans stock dividend to spin off cable assets


    (Reuters) - John Malone's Liberty Media Corp started the process of spinning off its cable assets through a stock dividend to its shareholders to form a new listed company called Liberty Broadband.

    Liberty Broadband, in a regulatory filing, said the stock dividend would be worth up to $4.8 billion and Malone would retain a voting interest of 47.3 percent.

    (Reporting by Soham Chatterjee in Bangalore; Editing by Saumyadeb Chakrabarty)