Liberty Media (LCAPA) Announces $300M Share Buyback

August 13, 2008 6:29 PM EDT

Liberty Media Corporation (Nasdaq: LCAPA) said its board of directors has authorized the repurchase of up to $300 million of Liberty Capital common stock. This authorization is an increase to the $300 million share repurchase authorization of Liberty Capital common stock that was announced in March 2008.

Additionally, the board of directors has increased the size of the board from eight to nine members and elected Evan D. Malone, an engineering consultant, to serve as a Class I director. Mr. Malone is the son of John C. Malone, the Chairman of the board and a director of Liberty Media.

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