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Liberty, Sony play games
August 21, 2000: 8:39 a.m. ET

Liberty antes $275M for 50% stake in interactive, game-based TV network
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NEW YORK (CNNfn) - Liberty Digital Inc. said Monday it is taking a 50 percent stake in Sony's Game Show Network for $275 million in stock and cash.

The alliance calls for Liberty Digital to pay Sony $225 million cash and $50 million in Liberty stock in exchange for the half-interest. The deal is expected to close in the fourth quarter.

graphicThe companies plan to extend programming on the cable network, which offers play-along games, original shows, and classics such as "Wheel of Fortune," "Jeopardy," and "Family Feud." 

"We have grown an unprecedented 9.9 million households in the past year, reaching over 29 million subscribers via cable and satellite," Game Show Network President Michael Fleming said.

Liberty Digital is a subsidiary of Liberty Media (LMG: Research, Estimates), whose affiliates include Starz Encore Group, Discovery Communications, Inc., QVC Inc. and USA Networks, Inc.

In Friday trading, shares of Sony  (SNE: Research, Estimates) rose 1/8 to 97-7/8 and Liberty Digital   (LDIG: Research, Estimates) rose 1/2 to 24. Back to top

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