Liberty Media Gets FTC Order Revoked
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Liberty Media Corp. won a retraction from U.S. regulators of an order that barred the company from owning voting stock in Time Warner Inc.
The Federal Trade Commission voted unanimously to set aside the order, the agency said in a notice posted Friday on its website. Englewood, Colo.-based Liberty, controlled by billionaire John Malone, had asked the FTC to rescind the order.
The FTC’s voting restrictions stem from Time Warner’s 1996 purchase of Turner Broadcasting System Inc., in which Malone was a shareholder.
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