Liberty Media Corporation to Create Liberty Broadband Interactive Television, Inc. (LBIT) With Peter C. Boylan III as President and CEO

    ENGLEWOOD, Colo., May 8 /PRNewswire-FirstCall/ -- Liberty Media
 Corporation (NYSE:   L, LMC.B) today announced that it has agreed in principle
 to form a new majority owned and controlled subsidiary in partnership with
 Peter C. Boylan III to pursue broadband interactive television activities.
     Liberty Broadband Interactive Television Inc. (LBIT), which will be
 approximately 90% owned by Liberty Media, will focus on investing in and
 developing interactive services and products for programmers and multi-channel
 video providers globally.  Peter C. Boylan III will serve as President, Chief
 Executive Officer and a Director of LBIT, which will be headquartered in
 Tulsa, Oklahoma.
     Simultaneously, as more fully described in a separate press release,
 Liberty Media also announced that it has entered into a stock purchase
 agreement to acquire a controlling interest in OpenTV Corp. (Nasdaq:   OPTV)
 representing an approximate 43% economic interest and 87% voting interest.
 Liberty Media intends to contribute this interest to LBIT.
     "We are extremely pleased to have the opportunity to build LBIT with Pete.
 We have had a close and successful association with Pete dating back to 1995
 when we invested in United Video Satellite Group, Inc. the predecessor to
 Gemstar TV Guide International.  We look forward to repeating our past
 successes with the creation of LBIT.  Pete brings a wealth of knowledge,
 energy, experience, and talent to this important developing area that should
 enable us to quickly establish a leadership position," said Robert Bennett,
 President and CEO of Liberty Media.
     "I am truly excited about the opportunity to once again collaborate and
 work with the Liberty Media team.  The iTV sector along with other technology
 areas have been out of favor with investors for the last few years, creating a
 unique opportunity for us at this time.  I firmly believe that with Liberty
 Media we can create substantial shareholder value in this sector while forging
 new, mutually beneficial relationships and partnerships with multi-channel
 video providers and programmers seeking to enhance their existing
 applications, traditional advertising business and associated revenue
 streams," said Peter C. Boylan III.
 
     Liberty Media Corporation (NYSE:   L, LMC.B) owns interests in a broad range
 of video programming, broadband distribution, interactive technology services
 and communications businesses.  Liberty Media and its affiliated companies
 operate in the United States, Europe, South America and Asia with some of the
 world's most recognized and respected brands, including Encore, STARZ!,
 Discovery, USA, QVC, Court TV and Sprint PCS.
 
     Certain statements in this press release may constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995.  Such forward-looking statements involve known and unknown risks,
 uncertainties and other important factors that could cause the actual results,
 performance or achievements of Liberty Media Corporation and subsidiaries or
 industry results, to differ materially from any future results, performance or
 achievements expressed or implied by such forward-looking statements.  Such
 risks, uncertainties and other factors include, among others: the risks and
 factors described in the publicly filed documents of Liberty Media
 Corporation, including the most recently filed Form 10-K of Liberty Media
 Corporation; general economic and business conditions and industry trends
 including in the advertising and retail markets; the continued strength of the
 industries in which we operate; uncertainties inherent in proposed business
 strategies and development plans; rapid technological changes; future
 financial performance, including availability, terms and deployment of
 capital; availability of qualified personnel; changes in, or the failure or
 the inability to comply with, government regulation, including, without
 limitation, regulations of the Federal Communications Commission, and adverse
 outcomes from regulatory proceedings; changes in the nature of key strategic
 relationships with partners and joint ventures; competitor responses to
 Liberty Media Corporation's products and services, and the overall market
 acceptance of such products and services, including acceptance of the pricing
 of such products and services.  These forward-looking statements speak only as
 of the date of this Release.  Liberty Media Corporation expressly disclaims
 any obligation or undertaking to disseminate any updates or revisions to any
 forward-looking statement contained herein to reflect any change in Liberty
 Media Corporation's expectations with regard thereto or any change in events,
 conditions or circumstances on which any such statement is based.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X66871225
 
 

SOURCE  Liberty Media Corporation

    ENGLEWOOD, Colo., May 8 /PRNewswire-FirstCall/ -- Liberty Media
 Corporation (NYSE:   L, LMC.B) today announced that it has agreed in principle
 to form a new majority owned and controlled subsidiary in partnership with
 Peter C. Boylan III to pursue broadband interactive television activities.
     Liberty Broadband Interactive Television Inc. (LBIT), which will be
 approximately 90% owned by Liberty Media, will focus on investing in and
 developing interactive services and products for programmers and multi-channel
 video providers globally.  Peter C. Boylan III will serve as President, Chief
 Executive Officer and a Director of LBIT, which will be headquartered in
 Tulsa, Oklahoma.
     Simultaneously, as more fully described in a separate press release,
 Liberty Media also announced that it has entered into a stock purchase
 agreement to acquire a controlling interest in OpenTV Corp. (Nasdaq:   OPTV)
 representing an approximate 43% economic interest and 87% voting interest.
 Liberty Media intends to contribute this interest to LBIT.
     "We are extremely pleased to have the opportunity to build LBIT with Pete.
 We have had a close and successful association with Pete dating back to 1995
 when we invested in United Video Satellite Group, Inc. the predecessor to
 Gemstar TV Guide International.  We look forward to repeating our past
 successes with the creation of LBIT.  Pete brings a wealth of knowledge,
 energy, experience, and talent to this important developing area that should
 enable us to quickly establish a leadership position," said Robert Bennett,
 President and CEO of Liberty Media.
     "I am truly excited about the opportunity to once again collaborate and
 work with the Liberty Media team.  The iTV sector along with other technology
 areas have been out of favor with investors for the last few years, creating a
 unique opportunity for us at this time.  I firmly believe that with Liberty
 Media we can create substantial shareholder value in this sector while forging
 new, mutually beneficial relationships and partnerships with multi-channel
 video providers and programmers seeking to enhance their existing
 applications, traditional advertising business and associated revenue
 streams," said Peter C. Boylan III.
 
     Liberty Media Corporation (NYSE:   L, LMC.B) owns interests in a broad range
 of video programming, broadband distribution, interactive technology services
 and communications businesses.  Liberty Media and its affiliated companies
 operate in the United States, Europe, South America and Asia with some of the
 world's most recognized and respected brands, including Encore, STARZ!,
 Discovery, USA, QVC, Court TV and Sprint PCS.
 
     Certain statements in this press release may constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995.  Such forward-looking statements involve known and unknown risks,
 uncertainties and other important factors that could cause the actual results,
 performance or achievements of Liberty Media Corporation and subsidiaries or
 industry results, to differ materially from any future results, performance or
 achievements expressed or implied by such forward-looking statements.  Such
 risks, uncertainties and other factors include, among others: the risks and
 factors described in the publicly filed documents of Liberty Media
 Corporation, including the most recently filed Form 10-K of Liberty Media
 Corporation; general economic and business conditions and industry trends
 including in the advertising and retail markets; the continued strength of the
 industries in which we operate; uncertainties inherent in proposed business
 strategies and development plans; rapid technological changes; future
 financial performance, including availability, terms and deployment of
 capital; availability of qualified personnel; changes in, or the failure or
 the inability to comply with, government regulation, including, without
 limitation, regulations of the Federal Communications Commission, and adverse
 outcomes from regulatory proceedings; changes in the nature of key strategic
 relationships with partners and joint ventures; competitor responses to
 Liberty Media Corporation's products and services, and the overall market
 acceptance of such products and services, including acceptance of the pricing
 of such products and services.  These forward-looking statements speak only as
 of the date of this Release.  Liberty Media Corporation expressly disclaims
 any obligation or undertaking to disseminate any updates or revisions to any
 forward-looking statement contained herein to reflect any change in Liberty
 Media Corporation's expectations with regard thereto or any change in events,
 conditions or circumstances on which any such statement is based.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X66871225
 
 SOURCE  Liberty Media Corporation