Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Liberty Media Corporation

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Liberty Media Corporation (“Liberty Media”) on behalf of shareholders as of October 9, 2009, of Liberty Media Corporation’s Series B Liberty Entertainment tracking stock (Nasdaq:LMDIB) related to a series of transactions that closed on November 19, 2009, which resulted in the sale of Liberty Media’s assets to The DIRECTV Group, Inc.

In the transactions, pursuant to the parties’ Agreement and Plan of Merger, Liberty Media executed a split-off of Liberty Entertainment, Inc. that, among other things, resulted in DIRECTV Group and Liberty Entertainment becoming wholly-owned subsidiaries of DIRECTV. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transactions by the Liberty Media board of directors.

If you own shares of Liberty Media’s Series B Liberty Entertainment tracking stock, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Liberty Media - Series B Liberty Entertainment (MM) (NASDAQ:LMDIB)
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