Standard&Poor's Ratings Services said today that Liberty Media Corp.'s (BBB-/Stable/--) announcement of its planned equity rights offering, expected to raise about $310 million, has no impact on the ratings or outlook on the company. Proceeds are expected to be used for general corporate purposes. Liberty is an active investor and acquirer in the media, entertainment, and telecom arenas. The company recently agreed to buy France Telecom's Netherlands cable TV systems for a total cash price of €750 million. The company, together with a group of other investors, may be interested in bidding on Deutsche Telekom's cable TV systems. While Liberty has considerable liquid resources, including $2.1 billion in cash as of June 30, 2002, and a well-hedged investment
