On May 17, 2006, Standard&Poor's Ratings Services said that its ratings, including the 'BB+' corporate credit rating, on Englewood, Colo.-based Liberty Media Corp. remain on CreditWatch, where they were placed with negative implications on Nov. 10, 2005. Liberty announced on May 16, 2006, that it entered into a binding term sheet to acquire IDT Entertainment Inc. from IDT Corp. IDT Entertainment is a creator of computer graphic (CG) animated and live action programming. The CreditWatch listing continues to reflect uncertainty surrounding Liberty's longer-term plan regarding its tracking stocks (Liberty Capital and Liberty Interactive), which may or may not lead to a spin-off. Liberty will need to own QVC Inc. (the largest operating asset within Liberty Interactive) for five
