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10-Q Watch: Liberty Media Squeaked Appeal Of Pro-Diller Ruling In Under Wire

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Buried in the 10-Q discussion of legal proceedings, confirmation from Liberty Media (NSDQ: LINTA) that it filed an appeal with Delaware Chancery Court May 7 over the March 28 ruling in favor of Barry Diller. Liberty’s report was filed just one day after the deadline and after IAC’s 10-Q noting no movement as the deadline approached. Liberty is appealing both the order and the judgment.

— DirecTV (NYSE: DTV) swap: Liberty spent $21 million on acquisition costs. Liberty also suggests investment may be on the way, explaining in its risks section: “To access technologies and provide products that are necessary for DirecTV to remain competitive, particularly in the area of broadband services, it may make future acquisitions and investments and may enter into strategic partnerships with other companies. Such investments may require a commitment of significant capital and human and other resources. The value of such acquisitions, investments and partnerships and the technology accessed may be highly speculative.

Viacom Pay TV JV: In the small-world category, Viacom’s new joint venture with MGM and Lionsgate will compete head on with Liberty’s Starz Entertainment and Time Warner’s (NYSE: TWX) HBO. Liberty had a stake in both Viacom and TWX as of March 31: $1.44 billion in TWX and $301 million in Viacom (NYSE: VIA). Last year, Liberty swapped out its interest in CBS (NYSE: CBS), which owns Showtime.

Sprint (NYSE: S) Nextel: Also as of March 31, Liberty Capital Group held $585 million in Sprint Nextel and $688 million in Motorola (NYSE: MOT).