New York – The Federal Trade Commission (FTC) today approved
Liberty Media’s $204 million investment in Barnes & Noble.
The FTC granted an early termination of the usual waiting
period required by the Hart-Rodino Act enabling the deal to go through.
Liberty will use the $204 million to purchase newly issued
convertible preferred stock, which can be converted into about 12 million
shares of common stock for a total of 16.6 percent ownership stake.
The deal also allows Liberty to name two nominees to the bookseller’s
board of directors: Gregory Mafei, Liberty Media’s president and CEO, and Mark
Carleton, Liberty’s senior VP.
