Liberty Media has proposed acquiring a 70% interest in Barnes&Noble (B&N) for cash consideration of about $1 billion. We are keeping our 'BB-' ratings, including the corporate credit rating, on Liberty Media on CreditWatch with developing implications. The B&N acquisition will be an area of evaluation in completing our CreditWatch review of Liberty Media, along with monitoring the outcome of the company's plan to separate certain tracking stock groups. On May 23, 2011, Standard&Poor's Ratings Services kept its 'BB-' ratings, including the corporate credit rating, on Englewood, Colo.-based Liberty Media Corp., on CreditWatch, where they were placed with developing implications on June 25, 2010. The rating action followed Liberty Media's proposal to acquire a 70% interest
