Liberty to Bulk Up Its Internet Portfolio |
| Wall Street Journal - Jan 7, 2008 |
Liberty Media Corp., in the latest move to beef up its portfolio of Internet businesses, is expected to announce today that it has bought a controlling stake in sports-nutrition retailer and fitness Web-site operator Bodybuilding.com LLC.
Liberty is paying more than $100 million to buy the stake from the site's founding family and a private-equity firm, according to a person familiar with the matter, although it isn't expected to disclose terms.
Once known primarily as an investor in media companies, Liberty has taken steps in recent years to become more of an operator of its own businesses. In the past couple of years it has assembled a sizable portfolio of Internet ventures to complement its QVC home-shopping network, whose growth has slowed as retail sales shift to the Web. Last year, Liberty purchased Buyseasons Inc., which operates an online costume site, and a controlling stake in Backcountry.com, an outdoor and action-sports retailer. In 2006 Liberty paid nearly $500 million to buy Internet flower and food seller Provide Commerce Inc.
Read Full Article from Wall Street Journal
- Posted: 2008-01-07 09:54:20
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
