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April 8, 2014By Michael Cader

Simply, Liberty Media Took the Money

April 8, 2014By Michael Cader

Liberty Media filed their required disclosure with the SEC subsequent to their previously announced sale of 91 percent of their preferred shares in Barnes & Noble to “qualified institutional investors.” Their motives are pretty clear from the filing: Liberty received $250.7 million for the shares, after investing $204 million in the bookseller in August 2011. They also received 9 or 10 quarters of dividends while holding the preferred shares, good for 7.75% annually — giving them a return of over $80 million, or roughly 40 percent. The timing of the sale took advantage of a brief run-up in Barnes & […]

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Filed Under: Bookstores, Finance

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