CHICAGO (Standard&Poor's) March 12, 2008--Standard&Poor's Ratings Services said today that Liberty Media Corp.'s (BB+/Negative/--) new share repurchase authorization of up to $1 billion of Liberty Entertainment common stock and up to $300 million of Liberty Capital common stock does not affect the ratings on the company. The $1.3 billion total authorization replaces a prior $1 billion purchase authorization of Liberty Capital common stock, but does not affect the existing Liberty Interactive repurchase authorization, which has $780 million remaining. The company has not indicated a time frame for completing the repurchase authorization. Liberty Entertainment is a fairly new tracking stock created from Liberty Capital to reflect the performance of Liberty Media's interest in the DIRECTV Group Inc.
