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Liberty Media to swap shares for CBS TV station

Tue Feb 13, 2007 9:29am EST

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NEW YORK, Feb 13 (Reuters) - Liberty Media (LCAPA.O) said on Tuesday it would swap its shares of CBS Corp. (CBSa.N) for a CBS-owned Green Bay, Wisconsin, television station and $170 million in cash in a tax-free deal.

Mergers & Acquisitions

The station is valued at $64 million, the companies said. Liberty said it would exchange its 7.59 million CBS common shares based on the average trading price of CBS Class B shares during a specified period before closing.

The deal is expected to be completed in the second quarter, pending regulatory approval.

Mergers & Acquisitions


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