Liberty Media's UnitedGlobalCom unit is to offer $932.2 million in stock for the remaining 33.5% stake in UGC Europe it doesn't own. The move is said to be part of Liberty's strategy to increase its minority stakes in companies it's invested in.
Liberty Media has agreed with Comcast on an independent appraiser to determine the value of QVC, which Liberty is buying from Comcast. Analysts say the acquisition could cost Liberty between $8 billion and $10 billion.
America Online says its base of dial-up customers is likely to drop this year due to subscriber terminations, competition from other providers and a lukewarm response to marketing efforts. Analysts say the decline will probably be somewhere between 500,000 and 1 million customers.
The war in Iraq has caused cable and broadcast networks to lower their forecasts for this year's upfront market. A report from Morgan Stanley says upfront take will increase 5% to 7% from last year's levels, significantly lower than the 12% to 15% executives have projected.
Comcast is to roll out VOD services in the Denver area by the end of the year. "We want to get [customers] used to a function on their TV that they can't get with satellite," said Steve Burke, Comcast Cable president.