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<div> (6)   Investments in Available-for-Sale Securities and Other Cost Investments         All marketable equity and debt securities held by the Company are classified as available-for-sale ("AFS") and are carried at fair value generally based on quoted market prices. Liberty accounts for certain of its AFS securities pursuant to Statement of Financial Accounting Standards No. 159, "The Fair Value Option for Financial Assets and Financial Liabilities, including an amendment of FASB Statement No. 115" ("Statement 159"). Statement 159 permits entities to choose to measure many financial instruments, such as AFS securities, and certain other items at fair value and to recognize the changes in fair value of such instruments in the entity's statement of operations. Liberty has entered into economic hedges for certain of its non-strategic AFS securities (although such instruments are not accounted for as fair value hedges by the Company). Changes in the fair value of these economic hedges are reflected in Liberty's statement of operations as unrealized gains (losses). In order to better match the changes in fair value of the subject AFS securities and the changes in fair value of the corresponding economic hedges in the Company's financial statements, Liberty has elected to apply the provisions of Statement 159 to those of its AFS securities ("Statement 159 Securities") which it considers to be non-strategic. Accordingly, changes in the fair value of Statement 159 Securities, as determined by quoted market prices, are reported in realized and unrealized gains (losses) on financial instruments in the accompanying condensed consolidated statements of operations. The total value of AFS securities for which the Company has elected the fair value option aggregated $2,617 million as of June 30, 2009.            Investments in AFS securities and other cost investments are summarized as follows:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="257"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="26"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="44"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "3">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> December 31, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "3">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="3"> Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Time Warner Inc.(1) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 862 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,033 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Time Warner Cable Inc.(2) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 272 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Sprint Nextel Corporation ("Sprint")(3) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 410 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 160 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Motorola, Inc.(4) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 344 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 328 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Viacom, Inc.  </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 172 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 145 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Embarq Corporation(5) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 195 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 157 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Other AFS equity securities(6) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 62 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 40 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Other AFS debt securities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 481 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 224 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Other cost investments and related receivables </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 32 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 31 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="3">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total attributed Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,830 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,118 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="3">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="3"> Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> IAC/InterActiveCorp ("IAC") </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 578 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 638 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 140 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 101 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="3">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total attributed Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 718 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 739 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="3">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="3"> Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="3">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total attributed Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="3">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Consolidated Liberty </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 3,550 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,859 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="3">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> <hr align="left" width="26%" color="#000000" noshade="noshade" size="1" /> <dl compact="compact"> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> (1) </dt> <dd style="FONT-FAMILY: times"> Includes $76 million and $91 million of shares pledged as collateral for share borrowing arrangements at June 30, 2009 and December 31, 2008, respectively. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> (2) </dt> <dd style="FONT-FAMILY: times"> Includes $24 million of shares pledged as collateral for share borrowing arrangements at June 30, 2009. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> (3) </dt> <dd style="FONT-FAMILY: times"> Includes $80 million and $17 million of shares pledged as collateral for share borrowing arrangements at June 30, 2009 and December 31, 2008, respectively. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> (4) </dt> <dd style="FONT-FAMILY: times"> Includes $344 million and $230 million of shares pledged as collateral for share borrowing arrangements at June 30, 2009 and December 31, 2008, respectively. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> (5) </dt> <dd style="FONT-FAMILY: times"> Includes $35 million and $16 million of shares pledged as collateral for share borrowing arrangements at June 30, 2009 and December 31, 2008, respectively. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> (6) </dt> <dd style="FONT-FAMILY: times"> Includes $58 million and $38 million of shares pledged as collateral for share borrowing arrangements at June 30, 2009 and December 31, 2008, respectively. </dd> </dl>         During the six months ended June 30, 2009, Liberty sold certain of its AFS securities for aggregate cash proceeds of $259 million. The aggregate pre-tax loss recognized by Liberty on such sales and included in gains (losses) on dispositions was $2 million. Unrealized Holdings Gains and Losses         Unrealized holding gains and losses related to investments in AFS securities are summarized below.  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="198"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> December 31, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Equity securities </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Debt securities </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Equity securities </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Debt securities </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Gross unrealized holding gains </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 51 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 21 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 9 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Gross unrealized holding losses </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (4 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> </tbody> </table> </div> </div>

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<div> (13) Commitments and Contingencies Film Rights         Starz Entertainment, a wholly-owned subsidiary of Liberty, provides premium video programming distributed by cable operators, direct-to-home satellite providers, telephone companies, other distributors and the Internet throughout the United States. Starz Entertainment has entered into agreements with a number of motion picture producers which obligate Starz Entertainment to pay fees ("Programming Fees") for the rights to exhibit certain films that are released by these producers. The unpaid balance of Programming Fees for films that were available for exhibition by Starz Entertainment at June 30, 2009 is reflected as a liability in the accompanying condensed consolidated balance sheet. The balance due as of June 30, 2009 is payable as follows: $109 million in 2009, $15 million in 2010 and $2 million thereafter.         Starz Entertainment has also contracted to pay Programming Fees for films that have been released theatrically, but are not available for exhibition by Starz Entertainment until some future date. These amounts have not been accrued at June 30, 2009. In addition, Starz Entertainment has agreed to pay Sony a total of $190 million in four annual installments of $47.5 million beginning in 2011 for a contract extension.  In December 2008, Starz Entertainment entered into a new agreement with Sony requiring $120 million in three equal annual installments beginning in 2015. Starz Entertainment's estimate of amounts payable under these agreements is as follows: $213 million in 2009; $361 million in 2010; $98 million in 2011; $93 million in 2012; $84 million in 2013 and $212 million thereafter.         In addition, Starz Entertainment is also obligated to pay Programming Fees for all qualifying films that are released theatrically in the United States by studios owned by The Walt Disney Company ("Disney") through 2012 and all qualifying films that are released theatrically in the United States by studios owned by Sony Pictures Entertainment ("Sony") through 2016. Films are generally available to Starz Entertainment for exhibition 10-12 months after their theatrical release. The Programming Fees to be paid by Starz Entertainment are based on the quantity and the domestic theatrical exhibition receipts of qualifying films. As these films have not yet been released in theatres, Starz Entertainment is unable to estimate the amounts to be paid under these output agreements. However, such amounts are expected to be significant. In February 2009, Disney announced that it has agreed to enter into a long-term distribution arrangement with DreamWorks Studios. Under the terms of this arrangement, Disney will handle distribution and marketing for approximately six DreamWorks films each year. As a result of this arrangement, the number of qualifying films under Starz Entertainment's output agreement with Disney may be higher than it would have been otherwise. Guarantees         Liberty guarantees Starz Entertainment's obligations under certain of its studio output agreements. At June 30, 2009, Liberty's guarantees for obligations for films released by such date aggregated $795 million. While the guarantee amount for films not yet released is not determinable, such amount is expected to be significant. As noted above, Starz Entertainment has recognized the liability for a portion of its obligations under the output agreements. As this represents a direct commitment of Starz Entertainment, a consolidated subsidiary of Liberty, Liberty has not recorded a separate indirect liability for its guarantee of these obligations.         In connection with agreements for the sale of assets by Liberty or its subsidiaries, Liberty may retain liabilities that relate to events occurring prior to its sale, such as tax, environmental, litigation and employment matters. Liberty generally indemnifies the purchaser in the event that a third party asserts a claim against the purchaser that relates to a liability retained by Liberty. These types of indemnification obligations may extend for a number of years. Liberty is unable to estimate the maximum potential liability for these types of indemnification obligations as the sale agreements may not specify a maximum amount and the amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time. Historically, Liberty has not made any significant indemnification payments under such agreements and no amount has been accrued in the accompanying condensed consolidated financial statements with respect to these indemnification guarantees. Sports Rights         Liberty Sports Group has entered into agreements with various professional and collegiate sports teams and leagues to purchase the rights to broadcast games through 2020. At June 30, 2009, such commitments aggregated $1,462 million and are due as follows: $61 million in 2009; $135 million in 2010; $133 million in 2011; $122 million in 2012; $105 million in 2013 and $906 million thereafter. Employment Contracts         The Atlanta Braves and certain of their players and coaches have entered into long-term employment contracts whereby such individuals' compensation is guaranteed. Amounts due under guaranteed contracts as of June 30, 2009 aggregated $205 million, which is payable as follows: $41 million in 2009, $68 million in 2010, $56 million in 2011 and $40 million in 2012. In addition to the foregoing amounts, certain players and coaches may earn incentive compensation under the terms of their employment contracts. Operating Leases         Liberty and its subsidiaries lease business offices, have entered into satellite transponder lease agreements and use certain equipment under lease arrangements. Litigation         Liberty has contingent liabilities related to legal and tax proceedings and other matters arising in the ordinary course of business. Although it is reasonably possible Liberty may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made. In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed consolidated financial statements. </div>

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<div> (10) Long-Term Debt         Debt is summarized as follows:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="268"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="40"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="44"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "4">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times" rowspan="2">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5" rowspan="2"> Carrying value </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "4">    </th> <th style="FONT-FAMILY: times" rowspan="2">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2" rowspan="2"> Outstanding principal June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "4">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> December 31, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "4">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "8"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="4"> Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> Exchangeable senior debentures </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 3.125% Exchangeable Senior Debentures due 2023 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 1,147 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 966 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 918 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 4% Exchangeable Senior Debentures due 2029 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 469 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 171 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 256 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 3.75% Exchangeable Senior Debentures due 2030 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 460 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 163 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 241 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 3.5% Exchangeable Senior Debentures due 2031 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 495 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 222 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 138 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> Liberty bank facility </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 750 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 750 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 750 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> Liberty derivative loan </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,930 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,930 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 625 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> Subsidiary debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 102 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 102 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 135 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total attributed Capital Group debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,353 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,304 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,063 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="4"> Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> Senior notes and debentures </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 7.875% Senior Notes due 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 104 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 104 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 104 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 7.75% Senior Notes due 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 5.7% Senior Notes due 2013 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 803 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 801 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 801 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 8.5% Senior Debentures due 2029 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 287 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 285 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 284 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 8.25% Senior Debentures due 2030 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 504 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 501 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 501 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> 3.25% Exchangeable Senior Debentures due 2031 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 541 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 217 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 138 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> QVC bank credit facilities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,477 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,477 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,230 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> Other subsidiary debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 68 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 68 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 60 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total attributed Interactive Group debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 6,797 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 6,466 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 7,131 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="4"> Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> DIRECTV Collar Loan </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,016 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,016 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,981 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="3"> Subsidiary debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 50 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 50 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 52 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total attributed Entertainment Group debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,066 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,066 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,033 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Total consolidated Liberty debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 14,216 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 12,836 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 12,227 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Less current maturities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (3,312 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (868 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" colspan="2"> Total long-term debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right">   9,524   </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 11,359 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="4">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> Exchangeable Senior Debentures         During the second quarter of 2009, Liberty used cash for the voluntary early retirement of $750 million face amount of its Exchangeable Senior Debentures attributable to Liberty Capital. Liberty paid $187.5 million (of which $37.5 million was existing cash collateral) to retire $400 million face amount of its 4% Exchangeable Senior Debentures due 2029 and $350 million face amount of its 33/4% Exchangeable Senior Debentures due 2030. Liberty also terminated swap arrangements that reference the 4% and 33/4% Exchangeable Senior Debentures with no additional payment. Including this payment, the total cash used to retire the $750 million face amount of Exchangeable Senior Debentures and swaps referencing these Exchangeable Senior Debentures was $503 million, of which $315 million was paid to settle swap arrangements that were settled in November 2008. In addition, in the second quarter of 2009, Liberty purchased and retired $117 million principal amount of its 3.125% Exchangeable Senior Debentures for aggregate cash payments of $99 million. Liberty Derivative Loan         During the first quarter of 2009, Liberty made additional net borrowings of $1,638 million against the present value of its Sprint derivatives. Such debt is due when the derivatives expire in 2009 and 2010 and is expected to be retired by the offset of debt left against amounts to be received by Liberty upon expiration of the derivatives. In this regard, in the second quarter of 2009, Liberty repaid $333 million of the Sprint derivative loan with cash on hand. Subsequent to June 30, 2009, a Sprint derivative expired, and Liberty received cash proceeds of $354 million. QVC Bank Credit Facilities         Effective June 16, 2009, QVC amended each of its bank credit agreements (the "Amended Credit Agreements"). Concurrent with the execution of the Amended Credit Agreements, QVC retired $750 million of loans at par and cancelled another $19 million of unfunded commitments at no cost, with the remaining $4.48 billion outstanding principal to mature in six tranches between June 2010 and March 2014 as follows: $500 million due in 2010; $702 million due in 2011; $400 million due in 2012; $400 million due in 2013; and $2,475 million due in 2014.         In connection with the execution of the Amended Credit Agreements, those lenders consenting to the amendments, which hold loans in the aggregate principal amount of approximately $4.23 billion, received certain modified loan terms, including (i) adjusted interest rate margins of 350 to 550 basis points depending on the tranche maturity, (ii) reductions in QVC's maximum leverage ratio, (iii) additional restrictions on creating additional indebtedness and (iv) mandatory prepayment in the event of certain asset sales by QVC. Loans held by the non-consenting lenders, in the aggregate principal amount of approximately $252 million, will continue to receive an interest rate margin of up to 100 basis points with their loans maturing in 2011. All other terms of the Amended Credit Agreements will apply to these loans.         Cash used to retire the $750 million of loans came from a combination of $250 million in cash from QVC and $250 million in the form of an intergroup loan from each of the Entertainment Group and the Capital Group to the Interactive Group. Such intergroup loans (i) are secured by various public stocks attributed to the Interactive Group, (ii) accrue interest quarterly at the rate of LIBOR plus 500 basis points and (iii) are due June 16, 2010.         QVC was in compliance with all of its debt covenants at June 30, 2009. QVC Interest Rate Swap Arrangements         QVC is party to ten separate interest rate swap arrangements with an aggregate notional amount of $2,200 million to manage the cash flow risk associated with interest payments on its variable rate debt. The swap arrangements provide for QVC to make fixed payments at rates ranging from 4.9575% to 5.2928% and to receive variable payments at 3 month LIBOR. All of the swap arrangements expire in March 2011. Until December 2008, Liberty accounted for the swap arrangements as cash flow hedges with the effective portions of changes in the fair value reflected in other comprehensive earnings in the accompanying condensed consolidated balance sheet. In December 2008, QVC elected interest terms under its credit facilities that do not effectively match the terms of the swap arrangements. As a result, the swaps no longer qualify as cash flow hedges under Statement No. 133. Accordingly, changes in the fair value of the swaps are now reflected in realized and unrealized gains or losses on financial instruments in the accompanying condensed consolidated statements of operations.           QVC is also party to two interest rate swap arrangements with an aggregate notional amount of $600 million. These swap arrangements, which expire in October 2010, provide for QVC to make fixed payments at 3.07% and to receive variable payments at 3 month LIBOR. These swap arrangements do not qualify as cash flow hedges under Statement 133. DIRECTV Collar Loan         In April 2008, Liberty entered into an equity collar (the "DIRECTV Collar") with respect to 110 million shares of DIRECTV common stock and a related credit facility (the "Collar Loan") against the present value of the put value of such collar. At the time of closing, Liberty borrowed $1,977 million. The Collar Loan is due as the DIRECTV Collar terminates in six tranches from June 2009 through August 2012. Each tranche is repayable during a six-month period based upon a formula that factors in several variables including the market price of DIRECTV common stock. Interest accrues at an effective weighted average interest rate of 3.5% and is due and payable as each tranche matures. Borrowings are collateralized by the puts underlying the Collar Loan and 170 million shares of DIRECTV common stock owned by Liberty.         In November 2008, Liberty chose to unwind 50% of the first tranche of the DIRECTV Collar. The first tranche expires in 2009 and originally had 22.5 million DIRECTV shares underlying it. As part of this transaction, Liberty repaid the portion of the Collar Loan ($228.4 million) associated with the shares that were unwound. Such repayment was funded with (1) proceeds from the collar unwind ($45.5 million), (2) funds borrowed from the remaining capacity of the Collar Loan ($181.1 million) and (3) cash on hand ($1.8 million). As a result of this transaction, the amount of the Collar Loan due in 2009 is approximately $258 million including accrued interest.         The DIRECTV Collar contains a provision that allows the counterparty to terminate a portion of the DIRECTV Collar if the total number of shares of DIRECTV underlying the DIRECTV Collar exceeds 20% of the outstanding public float of DIRECTV common stock. In the event the counterparty chooses to terminate a portion of the DIRECTV Collar, the repayment of the corresponding debt would be accelerated. As of June 30, 2009, the number of shares of DIRECTV common stock underlying the DIRECTV Collar represented approximately 22% of the outstanding public float of DIRECTV common stock. As of such date, the counterparty had not elected to terminate a portion of the collar. Other Subsidiary Debt         Other subsidiary debt at June 30, 2009 is comprised of capitalized satellite transponder lease obligations and bank debt of certain subsidiaries. Fair Value of Debt         Liberty estimates the fair value of its debt based on the quoted market prices for the same or similar issues or on the current rate offered to Liberty for debt of the same remaining maturities. The fair value of Liberty's publicly traded debt securities that are not reported at fair value in the accompanying condensed consolidated balance sheet at June 30, 2009 is as follows (amounts in millions):  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="345"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="16"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Fixed rate senior notes </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 816 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"> Senior debentures </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 572 </td> <td style="FONT-FAMILY: times">    </td> </tr> </tbody> </table> </div>            Due to the low risk nature of the Collar Loan, Liberty believes that the carrying amount approximates fair value. Due to its variable rate nature, Liberty believes that the carrying amount of its subsidiary debt and other parent debt approximated fair value at June 30, 2009. </div>

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<div>    (3)   Stock-Based Compensation         The Company has granted to its directors, employees and employees of its subsidiaries options and stock appreciation rights ("SARs") to purchase shares of Liberty common stock (collectively, "Awards"). The Company accounts for stock-based compensation pursuant to Statement of Financial Accounting Standards No. 123 (revised 2004), "Share-Based Payment" ("Statement 123R"). Statement 123R generally requires companies to measure the cost of employee services received in exchange for an Award of equity instruments (such as stock options and restricted stock) based on the grant-date fair value of the Award, and to recognize that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). Statement 123R also requires companies to measure the cost of employee services received in exchange for an Award of liability instruments (such as stock appreciation rights that will be settled in cash) based on the current fair value of the Award, and to remeasure the fair value of the Award at each reporting date.         Included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations are the following amounts of stock-based compensation (amounts in millions):  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="340"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="11"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Three months ended: </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> June 30, 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 35 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> June 30, 2008 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 27 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Six months ended: </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> June 30, 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 63 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> June 30, 2008 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 43 </td> <td style="FONT-FAMILY: times">    </td> </tr> </tbody> </table> </div>          During the six months ended June 30, 2009, Liberty granted primarily to QVC employees 6.7 million options to purchase shares of Series A Liberty Interactive common stock. Such options had a weighted average grant-date fair value of $.85.         In addition, in April 2009, Liberty completed an exchange offer pursuant to which eligible employees of QVC and BuySeasons were offered the opportunity to exchange all (but not less than all) of their outstanding stock options to purchase shares of Series A Liberty Interactive common stock ("LINTA") with an exercise price greater than $7.00 for new options to acquire shares of LINTA. Eligible option holders tendered an aggregate of 11,311,787 shares of LINTA. In exchange, Liberty granted the tendering option holders an aggregate of 2,828,022 options to purchase shares of LINTA with an exercise price of $3.41 per share and 2,828,022 options to purchase shares of LINTA with an exercise price of $6.00 per share. The difference between the fair value of the options granted in the exchange offer and the fair value of the options tendered, which aggregated $3 million, will be recognized as stock compensation expense over the vesting term of the options granted.         The Company has calculated the grant-date fair value for all of its equity classified awards and any subsequent remeasurement of its liability classified awards using the Black-Scholes Model. The Company estimates the expected term of the Awards based on historical exercise and forfeiture data. The volatility used in the calculation for Awards is based on the historical volatility of Liberty's stocks and the implied volatility of publicly traded Liberty options. The Company uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject options. Liberty—Outstanding Awards         The following table presents the number and weighted average exercise price ("WAEP") of options and SARs to purchase Liberty common stock granted to certain officers, employees and directors of the Company.  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="189"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="22"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="24"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="34"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="24"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="47"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="24"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="17"> Series A </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Liberty Capital </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> WAEP </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Liberty Interactive </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> WAEP </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Liberty Entertainment </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> WAEP </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "17"> numbers of options in thousands </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Outstanding at January 1, 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,031 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 10.83 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 31,361 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 16.48 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 15,978 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 19.77 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Granted </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 5.14 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 12,381 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 4.49 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 504 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 25.86 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Exercised </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 2.91 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (526 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 18.30 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Forfeited/Cancelled/Exchanged </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (16 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 13.72 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (12,418 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 16.84 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (48 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 21.86 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Outstanding at June 30, 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,016 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 10.82 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 31,323 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 11.60 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 15,908 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 20.00 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Exercisable at June 30, 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,434 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 13.27 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 11,730 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 20.65 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 9,513 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 20.56 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>          The following table provides additional information about outstanding options to purchase Liberty common stock at June 30, 2009.  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="147"></td> <td style="FONT-FAMILY: times" width="6"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="37"></td> <td style="FONT-FAMILY: times" width="6"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="37"></td> <td style="FONT-FAMILY: times" width="6"></td> <td style="FONT-FAMILY: times" width="39"></td> <td style="FONT-FAMILY: times" width="6"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="34"></td> <td style="FONT-FAMILY: times" width="6"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="34"></td> <td style="FONT-FAMILY: times" width="6"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="34"></td> <td style="FONT-FAMILY: times" width="6"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="31"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> No. of outstanding options (000's) </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> WAEP of outstanding options </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle"> Weighted average remaining life </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Aggregate intrinsic value (000's) </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> No. of exercisable options (000's) </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> WAEP of exercisable options </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Aggregate intrinsic value (000's) </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Series A Capital </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,016 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 10.82 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> 4.4 years </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 15,081 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,434 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 13.27 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 3,635 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Series B Capital </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,408 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 15.20 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> 1.7 years </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,408 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 15.20 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Series A Interactive </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 31,323 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 11.60 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> 5.1 years </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 16,923 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 11,730 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 20.65 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 661 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Series B Interactive </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 7,491 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 23.41 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> 1.9 years </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 7,491 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 23.41 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Series A Entertainment </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 15,908 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 20.00 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> 4.3 years </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 110,597 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 9,513 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 20.56 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 62,376 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Series B Entertainment </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,993 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 21.57 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> 1.9 years </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 32,999 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,993 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 21.57 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 32,999 </td> <td style="FONT-FAMILY: times">    </td> </tr> </tbody> </table> </div>          As of June 30, 2009, the total unrecognized compensation cost related to unvested Liberty equity Awards was approximately $78 million. Such amount will be recognized in the Company's consolidated statements of operations over a weighted average period of approximately 2 years. <style> /*<![CDATA[*/ st1\:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} /*]]>*/ /*<![CDATA[*/ st1\:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} /*]]>*/ /*<![CDATA[*/ st1\:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} /*]]>*/ /*<![CDATA[*/ st1\:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} /*]]>*/ </style> </div>

-1.06

0.19

0.36

41.88

-0.24

0.12

0.15

0.43

0.44

0.12

2.09

0.29

0.22

-1.06

0.19

0.36

41.55

-0.24

0.12

0.15

0.42

0.44

0.12

2.07

0.29

0.21

<div> (4)   Earnings (Loss) Per Common Share         Basic earnings (loss) per common share ("EPS") is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented.   Old Series A and Series B Liberty Capital Common Stock         Old Liberty Capital basic EPS for the period from January 1, 2008 to the Reclassification, was computed by dividing the net earnings attributable to the Capital Group by the weighted average outstanding shares of Old Liberty Capital common stock for the period (129 million). Fully diluted EPS for the two months in 2008 includes 1 million common stock equivalents. Series A and Series B Liberty Capital Common Stock         The basic and diluted EPS calculation is based on the following weighted average outstanding shares. Excluded from diluted EPS for the six months ended June 30, 2009 are 3 million potential common shares because their inclusion would be antidilutive.  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="142"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="45"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="36"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="45"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="47"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="11"> Liberty Capital Common Stock </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Three months ended June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Six months ended June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Three months ended June 30, 2008 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Period from March 4, 2008 to June 30, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> numbers of shares in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Basic EPS </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 96 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 96 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 126 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 127 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Stock options </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Diluted EPS </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 97 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 97 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 126 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 127 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> Series A and Series B Liberty Entertainment Common Stock         The basic and diluted EPS calculation is based on the following weighted average outstanding shares. Excluded from diluted EPS for the six months ended June 30, 2009 are 3 million potential common shares because their inclusion would be antidilutive.  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="142"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="45"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="36"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="45"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="47"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="11"> Liberty Entertainment Common Stock </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Three months ended June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Six months ended June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Three months ended June 30, 2008 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Period from March 4, 2008 to June 30, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> numbers of shares in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Basic EPS </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 517 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 517 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 516 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 516 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Stock options </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Diluted EPS </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 521 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 520 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 520 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 519 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>    Series A and Series B Liberty Interactive Common Stock         The basic and diluted EPS calculation is based on the following weighted average outstanding shares. Excluded from diluted EPS for the six months ended June 30, 2009 are 22 million potential common shares because their inclusion would be antidilutive.  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="153"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="45"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="36"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="45"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="36"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="11"> Liberty Interactive Common Stock </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Three months ended June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Six months ended June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Three months ended June 30, 2008 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Six months ended June 30, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> numbers of shares in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Basic EPS </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 594 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 594 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 594 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 595 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Stock options </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Diluted EPS </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 598 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 597 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 594 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 595 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> </div>

13000000

-24000000

-8000000

-16000000

14490000000

15063000000

562000000

13685000000

816000000

<div>    (7)   Investments in Affiliates Accounted for Using the Equity Method         Liberty has various investments accounted for using the equity method. The following table includes Liberty's carrying amount and percentage ownership of the more significant investments in affiliates at June 30, 2009 and the carrying amount at December 31, 2008:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="185"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="34"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="39"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="62"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> December 31, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Percentage ownership </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Carrying amount </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Carrying amount </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> dollar amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> DIRECTV </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 55 </td> <td style="FONT-FAMILY: times"> % </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 13,225 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13,085 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> various </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 460 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 281 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Expedia </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 24 </td> <td style="FONT-FAMILY: times"> % </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 575 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 559 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> various </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 241 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 342 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Sirius </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 40 </td> <td style="FONT-FAMILY: times"> % </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 344 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> various </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 218 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 223 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 15,063 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 14,490 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>          The following table presents Liberty's share of earnings (losses) of affiliates:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="281"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> Six months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> DIRECTV </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 179 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 190 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 8 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Expedia </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 19 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 35 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (102 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Sirius </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (8 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (23 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 105 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 210 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>    DIRECTV         On February 27, 2008, Liberty completed a transaction with News Corporation (the "News Corporation Exchange") in which Liberty exchanged all of its 512.6 million shares of News Corporation common stock valued at $10,143 million on the closing date for a subsidiary of News Corporation that held an approximate 41% interest in DIRECTV, three regional sports television networks that now comprise Liberty Sports Group and $463 million in cash. In addition, Liberty incurred $21 million of acquisition costs. Liberty recognized a pre-tax gain of $3,666 million in the first quarter of 2008 based on the difference between the fair value and the cost basis of the News Corporation shares exchanged.         Liberty accounted for the News Corporation Exchange as a nonmonetary exchange under APB Opinion No. 29 "Accounting for Nonmonetary Transactions." Accordingly, Liberty recorded the assets received at an amount equal to the fair value of the News Corporation common stock given up. Such amount was allocated to DIRECTV and Liberty Sports Group based on their relative fair values as follows (amounts in millions):  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="323"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Cash </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 463 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> DIRECTV </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 10,765 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Liberty Sports Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 448 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Deferred tax liability </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1,512 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 10,164 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>          Liberty estimated the fair values of Liberty Sports Group and DIRECTV's assets using a combination of discounted cash flows and market prices for comparable assets.         At the time of closing, the value attributed to Liberty's investment in DIRECTV exceeded Liberty's proportionate share of DIRECTV's equity by $8,022 million. Due to additional purchases of DIRECTV stock by Liberty and stock repurchases by DIRECTV, such excess basis has increased to $10,707 million as of June 30, 2009. Such amount has been allocated within memo accounts used for equity accounting purposes to DIRECTV's assets and liabilities. Amortization related to the intangible assets with identifiable useful lives within the memo accounts is included in Liberty's share of earnings of DIRECTV in the accompanying condensed consolidated statement of operations and aggregated $151 million and $85 million (net of related taxes) for the six months ended June 30, 2009 and for the four months ended June 30, 2008, respectively.         On April 3, 2008, Liberty purchased 78.3 million additional shares of DIRECTV common stock in a private transaction for cash consideration of $1.98 billion. Liberty funded the purchase with borrowings against a newly executed equity collar on 110 million DIRECTV common shares. As of May 5, 2008, Liberty's ownership in DIRECTV was approximately 47.9%, and Liberty and DIRECTV entered into a standstill agreement. Pursuant to the standstill agreement, in the event Liberty's ownership interest goes above 47.9% due to stock repurchases by DIRECTV Liberty has agreed to vote its shares of DIRECTV which represent the excess ownership interest above 47.9% in the same proportion as all DIRECTV shareholders other than Liberty. Accordingly, although Liberty's economic ownership in DIRECTV is above 50%, Liberty continues to account for such investment using the equity method of accounting. Liberty records its share of DIRECTV's earnings based on its economic interest in DIRECTV.           The market value of the Company's investment in DIRECTV was $13,559 million and $12,571 million at June 30, 2009 and December 31, 2008, respectively. Summarized unaudited financial information for DIRECTV is as follows: <div style="MARGIN-LEFT: 2em"> DIRECTV Consolidated Balance Sheets </div>  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="264"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="44"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> December 31, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Current assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 4,282 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,044 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Satellites, net </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,388 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,476 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Property and equipment, net </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,117 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,171 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Goodwill </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,774 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,753 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Intangible assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,014 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,172 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Other assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 836 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 923 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 16,411 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 16,539 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Current liabilities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 3,669 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,585 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Deferred income taxes </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 543 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 524 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Long-term debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,604 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,725 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Other liabilities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,701 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,749 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Redeemable noncontrolling interest </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 325 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 325 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Equity </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,569 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,631 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total liabilities and equity </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 16,411 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 16,539 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>    <div style="MARGIN-LEFT: 2em"> DIRECTV Consolidated Statements of Operations </div>  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="279"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> Six months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Revenue </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 10,119 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 9,398 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Costs of revenue </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (5,020 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (4,614 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Selling, general and administrative expenses </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (2,628 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (2,245 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Depreciation and amortization </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1,345 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1,081 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Operating income </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,126 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,458 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Interest expense </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (203 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (145 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Other income, net </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 73 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 55 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Income tax expense </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (366 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (517 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Net income </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 630 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 851 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Less income attributable to noncontrolling interest </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (22 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (25 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Net income attributable to The DIRECTV Group, Inc.  </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 608 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 826 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>  Expedia         The market value of the Company's investment in Expedia was $1,046 million and $570 million at June 30, 2009 and December 31, 2008, respectively. Summarized unaudited financial information for Expedia is as follows: <div style="MARGIN-LEFT: 2em"> Expedia Consolidated Balance Sheets </div>  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="267"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="26"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="44"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> December 31, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Current assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 1,517 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,199 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Property and equipment </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 235 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 248 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Goodwill </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,569 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,539 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Intangible assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 830 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 833 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Other assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 55 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 75 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 6,206 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,894 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Current liabilities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 2,393 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,566 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Deferred income taxes </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 198 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 190 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Long-term debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 895 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,545 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Other liabilities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 230 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 212 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Equity </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,490 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,381 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Total liabilities and equity </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 6,206 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5,894 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>    <div style="MARGIN-LEFT: 2em"> Expedia Consolidated Statements of Operations </div>  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="281"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> Six months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Revenue </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 1,405 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,483 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Cost of revenue </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (292 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (322 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Gross profit </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,113 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,161 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Selling, general and administrative expenses </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (798 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (863 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Amortization </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (18 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (37 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Restructuring charges and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (89 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Operating income </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 208 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 261 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Interest expense </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (42 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (29 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Other income (expense) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (22 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 8 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Income tax expense </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (62 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (95 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Net earnings </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 82 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 145 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Net (earnings) loss attributable to noncontrolling interests </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (2 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Net earnings attributable to Expedia, Inc.  </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 80 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 147 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>  Spin Off Companies from IAC         IAC completed the spin off of HSN, Interval, Ticketmaster and Lending Tree (the "IAC Spin Off Companies") on August 21, 2008. Liberty received an approximate 30% ownership interest in each of the IAC Spin Off Companies. Liberty allocated its carrying value in IAC prior to the spin off among IAC and the IAC Spin Off Companies based on their relative fair values at the time of the spin off. Liberty received no super voting shares in and has no special voting arrangements with respect to any of the IAC Spin Off Companies (other than with respect to the election of directors), and therefore, accounts for its interests using the equity method of accounting. Liberty has elected to record its share of earnings/losses for each of the IAC Spin Off Companies on a three month lag due to timeliness considerations. Liberty's share of losses of the IAC Spin Off Companies aggregated $97 million for the six months ended June 30, 2009. Sirius XM Radio Inc.         During the first quarter of 2009, Liberty made investments/commitments in Sirius totaling approximately $579 million. Liberty's initial investment was the open market purchase of $46 million principal amount of Sirius bonds for $18 million. Such bonds are accounted for by Liberty as AFS debt securities and are marked to market each reporting period. On February 17, 2009, Liberty and Sirius entered into a senior secured loan agreement (the "Senior Loan") whereby Liberty loaned Sirius $250 million at an interest rate of 15% and made a commitment to loan an additional $30 million to fund qualifying expenditures by Sirius (the "Purchase Money Commitment"). In exchange for making the Senior Loan, Liberty received a $30 million origination fee. Liberty has accounted for the origination fee as a discount to the Senior Loan and is amortizing it to interest income over the term of the Senior Loan. On March 6, 2009, Liberty (i) purchased $100 million of a new senior loan facility of a subsidiary of Sirius ("Subsidiary Senior Loan"), (ii) purchased $61 million of bank debt of such subsidiary directly from the lending group and (iii) committed to make a loan of $150 million to such subsidiary in December 2009 ("Subsidiary Commitment"). In addition, Liberty received voting preferred stock of Sirius (the "Sirius Preferred Stock"), which has substantially the same rights and preferences as common shareholders of Sirius, for a cash payment of $12,500. The Sirius Preferred Stock is convertible into common stock equal to 40% of fully diluted equity.         Liberty has allocated the total consideration paid for the Subsidiary Senior Loan, the Subsidiary Commitment and the Sirius Preferred Stock to each of the instruments based on the relative fair values of such instruments.         Since the amount of bank debt purchased from the lending group was a transaction with an outside third party and not with Sirius directly, this investment has not been included in the allocation, but has initially been recorded at the amount invested ($61 million).         During the second quarter of 2009, Sirius issued $525 million of 11.25% Senior Secured Notes due 2013, of which Liberty purchased $100 million principal amount at a purchase price of 95.093% The $500 million in net proceeds of the offering were used to repay all amounts outstanding under the Subsidiary Senior Loan; to replace the $150 million Subsidiary Commitment, which was terminated upon the closing of the offering; and to refinance and repay other debt of Sirius. As such, amounts due to Liberty under the Subsidiary Senior Loan ($100 million original funding and $61 million third party purchase, with an aggregate principal amount of $153 million) were repaid in full resulting in a cash payment to Liberty of $156 million, including associated prepayment premiums. As Liberty's book basis in the debt was originally recorded at a discount, Liberty recognized a gain on the debt repayment of $42 million. In addition, Liberty retired the discounted funding obligation under the terminated Subsidiary Commitment, which had a carrying value of $70 million, resulting in a total gain on the Sirius refinancing of $112 million.         During the second quarter of 2009, Liberty also purchased an additional $62 million face amount of other Sirius bonds at an average price of 70.05%.         As of June 30, 2009, Liberty had invested aggregate cash of $537 million and had received scheduled debt repayments and cash from the Sirius refinancing totaling $162 million, resulting in a net cash investment of $375 million. Such net cash investment has resulted in Liberty owning the Senior Loan, $208 million principal amount of Sirius public bonds and the Sirius Preferred Stock. In addition, Liberty expects that it will extend the Purchase Money Commitment, subject to the identification of qualifying expenditures.         Based on Liberty's voting rights and its conclusion that the Sirius Preferred Stock is in-substance common stock in accordance with the criteria in EITF 02-14, Liberty accounts for its investment in the Sirius Preferred Stock using the equity method of accounting. Liberty has elected to record its share of earnings/losses for Sirius on a three-month lag due to timeliness considerations. As of June 30, 2009, the Sirius Preferred Stock had a market value of $1,112 million based on the value of the common stock into which it is convertible.         Liberty's investment in Sirius has been attributed to the Capital Group. <style> /*<![CDATA[*/ st1\:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} /*]]>*/ </style> </div>

<div> (5)   Assets and Liabilities Measured at Fair Value         Liberty uses the provisions of Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("Statement 157") to account for assets and liabilities that are required to be reported at fair value. Statement 157 defines fair value, prescribes a framework for measuring fair value under GAAP and expands disclosures about fair value measurements.         Statement 157 provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs, other than quoted market prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability.         The Company's assets and liabilities measured at fair value are as follows:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="211"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="24"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="63"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="55"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="42"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="11"> Fair Value Measurements at June 30, 2009 Using </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" nowrap="nowrap" align= "left"> <div style= "MARGIN-BOTTOM: 0pt; WIDTH: 41pt; BORDER-BOTTOM: #000000 1pt solid"> Description </div> </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Total </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Quoted prices in active markets for identical assets (Level 1) </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Significant other observable inputs (Level 2) </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Significant unobservable inputs (Level 3) </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "8"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Available-for-sale securities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 3,510 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,213 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 297 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Financial instrument assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 2,127 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,127 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Financial instrument liabilities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 929 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 617 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 312 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Debt </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 1,739 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,739 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> </tbody> </table> </div>         The Company uses the Black-Scholes Model to estimate fair value for the majority of its Level 2 financial instrument assets and liabilities using observable inputs such as exchange-traded equity prices, risk-free interest rates, dividend yields and volatilities obtained from pricing services. For the Company's debt instruments reported at fair value, the Company gets quoted market prices from pricing services or from evidence of observable inputs, some of which may be obtained using third-party brokers. However, the Company does not believe such instruments are traded on "active markets," as defined in Statement 157. Accordingly, the debt instruments are reported in the foregoing table as Level 2 fair value.         Statement 157 requires the incorporation of a credit risk valuation adjustment in the Company's fair value measurements to estimate the impact of both its own nonperformance risk and the nonperformance risk of its counterparties. The Company estimates credit risk associated with its and its counterparties nonperformance primarily by using observable credit default swap rates for terms similar to those of the remaining life of the instrument, adjusted for any master netting arrangements or other factors that provide an estimate of nonperformance risk. These are Level 3 inputs. However, as the credit risk valuation adjustments were not significant, the Company continues to report its equity collars, interest rate swaps and put options as Level 2. </div>

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<div> (9)   Intangible Assets Goodwill         Changes in the carrying amount of goodwill are as follows:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="196"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="24"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="47"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="19"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="19"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> QVC </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Starz Entertainment </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Other </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Total </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Balance at January 1, 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 5,363 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 132 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,055 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 6,550 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Dispositions </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (118 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (118 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Foreign currency translation adjustments </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 12 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (14 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (2 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Balance at June 30, 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 5,388 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 132 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 923 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 6,443 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> Intangible Assets Subject to Amortization         Amortization expense for intangible assets with finite useful lives was $250 million and $258 million for the six months ended June 30, 2009 and 2008, respectively. Based on its amortizable intangible assets as of June 30, 2009, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="345"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="16"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Remainder of 2009 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 246 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"> 2010 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 474 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> 2011 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 433 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"> 2012 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 390 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> 2013 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 379 </td> <td style="FONT-FAMILY: times">    </td> </tr> </tbody> </table> </div> </div>

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<div> (1)   Basis of Presentation         The accompanying condensed consolidated financial statements include the accounts of Liberty Media Corporation and its controlled subsidiaries (collectively, "Liberty" or the "Company" unless the context otherwise requires). All significant intercompany accounts and transactions have been eliminated in consolidation.         Liberty, through its ownership of interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries in North America, South America, Europe and Asia.         Effective January 1, 2009, Liberty adopted Statement of Financial Accounting Standards No. 160, "Noncontrolling Interests in Consolidated Financial Statements" ("Statement 160"). Statement 160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary, commonly referred to as minority interest. Among other matters, Statement 160 requires (a) the noncontrolling interest be reported within equity in the balance sheet and (b) the amount of consolidated net income attributable to the parent and to the noncontrolling interest to be clearly presented in the statement of income. Statement 160 and EITF Topic 08-6 also require that SAB 51 Gains for subsidiaries be recorded in equity and SAB 51 Gains for equity affiliates be recorded in earnings. Liberty has applied the provisions of Statement 160 prospectively, except for the presentation and disclosure requirements, which have been applied retrospectively for all periods presented.         The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results for such periods have been included. The results of operations for any interim period are not necessarily indicative of results for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in Liberty's Annual Report on Form 10-K for the year ended December 31, 2008, as amended.         The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Liberty considers (i) fair value measurement, (ii) accounting for income taxes, (iii) assessments of other-than-temporary declines in fair value of its investments and (iv) estimates of retail-related adjustments and allowances to be its most significant estimates.         Liberty holds investments that are accounted for using the equity method. Liberty does not control the decision making process or business management practices of these affiliates. Accordingly, Liberty relies on management of these affiliates to provide it with accurate financial information prepared in accordance with GAAP that Liberty uses in the application of the equity method. In addition, Liberty relies on audit reports that are provided by the affiliates' independent auditors on the financial statements of such affiliates. The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliates that would have a material effect on Liberty's condensed consolidated financial statements. </div>

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<div> (12) Transactions with Related Parties         During the six months ended June 30, 2009 and the four months ended June 30, 2008, subsidiaries of Liberty recognized aggregate revenue of $168 million and $97 million, respectively, from DIRECTV for distribution of their programming. In addition, subsidiaries of Liberty made aggregate payments of $16 million and $12 million to DIRECTV for carriage and marketing.         In the second quarter of 2009, QVC executed a five-year affiliation agreement with DIRECTV. Pursuant to such agreement, QVC will pay DIRECTV approximately $11 million for improved channel position. </div>

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<div> (8)   Financial Instruments         The Company's financial instruments are summarized as follows:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="265"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="44"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" nowrap="nowrap" align= "left" colspan="2"> <div style= "MARGIN-BOTTOM: 0pt; WIDTH: 100pt; BORDER-BOTTOM: #000000 1pt solid"> Type of financial instrument </div> </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> December 31, 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Assets </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Equity collars(1) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 2,124 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,392 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 93 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,127 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,485 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Less current portion </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1,819 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1,157 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 308 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,328 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Liabilities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Borrowed shares </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 617 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 392 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 312 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 350 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 929 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 742 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Less current portion </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (762 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (553 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 167 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 189 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> <hr align="left" width="26%" color="#000000" noshade="noshade" size="1" /> <dl compact="compact"> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> (1) </dt> <dd style="FONT-FAMILY: times"> Includes $2,022 million and $102 million at June 30, 2009 related to the Company's Sprint and DIRECTV equity collars, respectively. The Company has made borrowings against substantially all of the future cash proceeds to be received by the Company upon expiration of these equity collars. See note 10. </dd> </dl> Realized and Unrealized Gains (Losses) on Financial Instruments         Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="291"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="28"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> Six months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "5"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Statement 159 Securities </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 645 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1,282 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Exchangeable senior debentures </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (333 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 388 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Equity collars </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (228 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 223 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> Borrowed shares </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (171 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 501 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> Other derivatives </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 6 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (152 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> (81 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (322 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> </div>

<div> (14) Information About Liberty's Operating Segments         Liberty, through its ownership interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries. Liberty has attributed each of its businesses to one of three groups: the Interactive Group, the Entertainment Group and the Capital Group. Each of the businesses in the tracking stock groups is separately managed. Liberty identifies its reportable segments as (A) those consolidated subsidiaries that represent 10% or more of its consolidated revenue, pre-tax earnings or total assets and (B) those equity method affiliates whose share of earnings represent 10% or more of Liberty's pre-tax earnings. The segment presentation for prior periods has been conformed to the current period segment presentation.         Liberty evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue, Adjusted OIBDA, gross margin, average sales price per unit, number of units shipped and revenue or sales per customer equivalent. In addition, Liberty reviews nonfinancial measures such as subscriber growth, penetration, website visitors, conversion rates and active customers, as appropriate.         Liberty defines Adjusted OIBDA as revenue less cost of sales, operating expenses, and selling, general and administrative expenses (excluding stock-based compensation). Liberty believes this measure is an important indicator of the operational strength and performance of its businesses, including each business's ability to service debt and fund capital expenditures. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements and restructuring and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. Liberty generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices.         For the six months ended June 30, 2009, Liberty has identified the following businesses as its reportable segments: <div style="MARGIN-LEFT: 2em"> <dl compact="compact"> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> • </dt> <dd style="FONT-FAMILY: times"> QVC—consolidated subsidiary included in the Interactive Group that markets and sells a wide variety of consumer products in the United States and several foreign countries, primarily by means of televised shopping programs on the QVC networks and via the Internet through its domestic and international websites. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> • </dt> <dd style="FONT-FAMILY: times"> Starz Entertainment—consolidated subsidiary included in the Entertainment Group that provides premium programming distributed by cable operators, direct-to-home satellite providers, telephone companies, other distributors and the Internet throughout the United States. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> • </dt> <dd style="FONT-FAMILY: times"> Starz Media—consolidated subsidiary included in the Capital Group that develops, acquires, produces and distributes live-action and animated films and television productions for the theatrical, home video, television and other ancillary markets in the United States and internationally. </dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> • </dt> <dd style="FONT-FAMILY: times"> DIRECTV—equity affiliate attributed to the Entertainment Group that provides digital television entertainment delivered by satellite in the United States and Latin America. </dd> </dl> </div>         Liberty's reportable segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, distribution channels and marketing strategies. The accounting policies of the segments that are also consolidated subsidiaries are the same as those described in the Company's summary of significant policies. Performance Measures  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="197"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="27"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="25"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="27"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="11"> Six months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Revenue </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Adjusted OIBDA </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Revenue </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Adjusted OIBDA </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> QVC </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 3,277 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 692 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,526 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 774 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 490 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 61 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 378 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 37 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,767 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 753 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,904 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 811 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Starz Entertainment </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 592 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 213 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 548 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 142 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 144 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 8 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 121 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 736 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 221 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 669 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 143 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Starz Media </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 192 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 22 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 119 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (43 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 132 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (50 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 146 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (56 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 324 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (28 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 265 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (99 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Consolidated Liberty </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 4,827 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 946 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,838 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 855 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Equity Affiliate </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> DIRECTV </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 10,119 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,471 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 9,398 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,539 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="200"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="25"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="27"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="25"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="27"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="11"> Three months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Revenue </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Adjusted OIBDA </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Revenue </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Adjusted OIBDA </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> QVC </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 1,684 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 373 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,761 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 387 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 252 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 39 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 193 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 23 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,936 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 412 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,954 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 410 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Starz Entertainment </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 296 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 105 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 275 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 68 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 71 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (16 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 84 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (6 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 367 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 89 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 359 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 62 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Starz Media </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 90 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 17 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 57 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (19 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 109 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (13 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 117 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (21 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 199 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 174 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (40 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Consolidated Liberty </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 2,502 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 505 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2,487 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 432 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Equity Affiliate </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> DIRECTV </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 5,218 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,381 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 4,807 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,358 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>    Other Information  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="213"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="29"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="38"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="41"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="8"> June 30, 2009 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Total assets </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Investments in affiliates </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> Capital expenditures </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "8"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Interactive Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> QVC </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 13,484 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 2 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 73 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,483 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 814 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 11 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 16,967 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 816 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 84 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Entertainment Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Starz Entertainment </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,552 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 14,731 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13,685 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 5 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 16,283 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 13,685 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 6 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Capital Group </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Starz Media </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 579 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Corporate and other </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 9,268 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 562 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 6 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 9,847 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 562 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 7 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Inter-group eliminations </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (174 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> — </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Consolidated Liberty </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 42,923 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 15,063 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 97 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Equity Affiliate </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> DIRECTV </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 16,411 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 1,033 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times">   </td> <td style="FONT-FAMILY: times" align="right">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div>         The following table provides a reconciliation of segment Adjusted OIBDA to earnings before income taxes:  <div align="center"> <table cellspacing="0" cellpadding="0" border="0"> <tbody> <tr> <td style="FONT-FAMILY: times" width="10"></td> <td style="FONT-FAMILY: times" width="315"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="20"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" width="15"></td> <td style="FONT-FAMILY: times" align="right" width="5"> </td> <td style="FONT-FAMILY: times" width="19"></td> <td style="FONT-FAMILY: times" width="3"></td> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> Three months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="5"> Six months ended June 30, </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2008 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2009 </th> <th style="FONT-FAMILY: times">    </th> <th style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="middle" colspan="2"> 2008 </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan= "2">    </th> <th style="FONT-FAMILY: times">    </th> <th style="FONT-FAMILY: times" align="middle" colspan= "11"> amounts in millions </th> <th style="FONT-FAMILY: times">    </th> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Consolidated segment Adjusted OIBDA </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 505 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 432 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 946 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 855 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Stock-based compensation </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (35 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (27 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (63 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (43 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Depreciation and amortization </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (166 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (176 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (344 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (353 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Interest expense </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (161 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (187 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (315 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (353 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Share of earnings of affiliates </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 171 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 165 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 105 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 210 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Realized and unrealized gains (losses) on financial instruments, net </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 163 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (37 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (81 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (322 </td> <td style="FONT-FAMILY: times"> ) </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> Gains (losses) on dispositions, net </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 166 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> (1 </td> <td style="FONT-FAMILY: times"> ) </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 164 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,681 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> Other, net </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 78 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 41 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 62 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 98 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> <tr valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times"> Earnings before income taxes </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> $ </td> <td style="FONT-FAMILY: times" align="right"> 721 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 210 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 474 </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times">    </td> <td style="FONT-FAMILY: times" align="right"> 3,773 </td> <td style="FONT-FAMILY: times">    </td> </tr> <tr style="FONT-SIZE: 1.5pt" valign="top"> <td style="FONT-FAMILY: times" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> <td style= "BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align="right" colspan="2">   </td> <td style="FONT-FAMILY: times">   </td> </tr> </tbody> </table> </div> </div>

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<div> (11) Stockholders' Equity         As of June 30, 2009, there were 4.0 million and 1.4 million shares of Series A and Series B Liberty Capital common stock, respectively, reserved for issuance under exercise privileges of outstanding stock options.         As of June 30, 2009, there were 31.3 million and 7.5 million shares of Series A and Series B Liberty Interactive common stock, respectively, reserved for issuance under exercise privileges of outstanding stock options.         As of June 30, 2009, there were 15.9 million and 6.0 million shares of Series A and Series B Liberty Entertainment common stock, respectively, reserved for issuance under exercise privileges of outstanding stock options.         In addition to the Series A and Series B Liberty Capital common stock, the Series A and Series B Liberty Interactive common stock and the Series A and Series B Liberty Entertainment common stock, there are 2.0 billion, 4.0 billion and 4.0 billion shares of Series C Liberty Capital, Series C Liberty Interactive and Series C Liberty Entertainment common stock, respectively, authorized for issuance. As of June 30, 2009, no shares of any Series C common stock were issued or outstanding.         During the six months ended June 30, 2009, the Company settled put options on Series A Liberty Capital common stock for cash payments of $5 million. As of June 30, 2009, put options with respect to 12.6 million shares of LINTA with a weighted average put price of $16.83 remained outstanding. Such put options expire on or before June 30, 2010.         The Company accounts for the foregoing put options pursuant to Statement of Financial Accounting Standards No. 150, "Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity." Accordingly, the put options are recorded in financial instrument liabilities at fair value, and changes in the fair value are included in realized and unrealized gains (losses) on financial instruments in the accompanying condensed consolidated statements of operations. </div>

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<div> (2)   Tracking Stocks         Prior to March 3, 2008, Liberty had two tracking stocks—Liberty Interactive common stock and Liberty Capital common stock, which were intended to track and reflect the economic performance of the Interactive Group and the Capital Group, respectively. On March 3, 2008, Liberty completed a reclassification (the "Reclassification") of its Liberty Capital common stock (herein referred to as "Old Liberty Capital common stock") whereby each share of Old Series A Liberty Capital common stock was reclassified into four shares of Series A Liberty Entertainment common stock and one share of new Series A Liberty Capital common stock, and each share of Old Series B Liberty Capital common stock was reclassified into four shares of Series B Liberty Entertainment common stock and one share of new Series B Liberty Capital common stock. The Liberty Entertainment common stock is intended to track and reflect the economic performance of the Entertainment Group. The Reclassification did not change the businesses, assets and liabilities attributed to the Interactive Group.         Tracking stock is a type of common stock that the issuing company intends to reflect or "track" the economic performance of a particular business or "group," rather than the economic performance of the company as a whole. While the Interactive Group, the Entertainment Group and the Capital Group have separate collections of businesses, assets and liabilities attributed to them, no group is a separate legal entity and therefore cannot own assets, issue securities or enter into legally binding agreements. Holders of tracking stocks have no direct claim to the group's stock or assets and are not represented by separate boards of directors. Instead, holders of tracking stock are stockholders of the parent corporation, with a single board of directors and subject to all of the risks and liabilities of the parent corporation.         The term "Interactive Group" does not represent a separate legal entity, rather it represents those businesses, assets and liabilities which Liberty has attributed to that group. The assets and businesses Liberty has attributed to the Interactive Group are those engaged in video and on-line commerce, and include its subsidiaries QVC, Inc. ("QVC"), Provide Commerce, Inc. ("Provide"), Backcountry.com, Inc. ("Backcountry"), Bodybuilding.com, LLC ("Bodybuilding") and BuySeasons, Inc. ("BuySeasons") and its noncontrolling interest in Expedia, Inc. ("Expedia"), HSN, Inc. ("HSN"), Interval Leisure Group, Inc. ("Interval"), Ticketmaster Entertainment, Inc. ("Ticketmaster"), Tree.com, Inc. ("Lending Tree") and IAC/InterActiveCorp ("IAC"). In addition, Liberty has attributed $2,252 million principal amount (as of June 30, 2009) of its public debt to the Interactive Group. The Interactive Group will also include such other businesses, assets and liabilities that Liberty's board of directors may in the future determine to attribute to the Interactive Group, including such other businesses and assets as Liberty may acquire for the Interactive Group.         Similarly, the term "Entertainment Group" does not represent a separate legal entity, rather it represents those businesses, assets and liabilities which Liberty has attributed to that group. The Entertainment Group focuses primarily on video programming, communications businesses and the direct-to-home satellite distribution business and includes Liberty's noncontrolling ownership interest in The DIRECTV Group, Inc. ("DIRECTV"), as well as an equity collar on 98.75 million of shares of DIRECTV common stock and $2,016 million of borrowings (as of June 30, 2009) against the put value of such equity collar. Liberty has also attributed to the Entertainment Group its subsidiaries, Starz Entertainment, LLC ("Starz Entertainment"), CDM Fantasy Sports Corp. ("FUN Sports"), three regional sports television networks ("Liberty Sports Group") and PicksPal, Inc. and equity interests in Game Show Network, LLC ("GSN") and WildBlue Communications, Inc. In addition, Liberty has attributed $413 million of corporate cash to the Entertainment Group. The Entertainment Group will also include such other businesses, assets and liabilities that Liberty's board of directors may in the future determine to attribute to the Entertainment Group, including such other businesses as Liberty may acquire for the Entertainment Group.         The term "Capital Group" also does not represent a separate legal entity, rather it represents all of Liberty's businesses, assets and liabilities other than those which have been attributed to the Interactive Group or the Entertainment Group. The assets and businesses attributed to the Capital Group include Liberty's subsidiaries: Starz Media, LLC ("Starz Media"), Atlanta National League Baseball Club, Inc. ("ANLBC"), Leisure Arts, Inc. ("Leisure Arts"), TruePosition, Inc. ("TruePosition") and WFRV and WJMN Television Station, Inc. ("WFRV TV Station"); and its interests in Sirius XM Radio Inc. ("Sirius"), Time Warner Inc., Time Warner Cable Inc. and Sprint Nextel Corporation. In addition, Liberty has attributed $2,373 million of cash, including subsidiary cash and $5,251 million principal amount (as of June 30, 2009) of its exchangeable senior debentures and other parent debt to the Capital Group. The Capital Group will also include such other businesses, assets and liabilities that Liberty's board of directors may in the future determine to attribute to the Capital Group, including such other businesses and assets as Liberty may acquire for the Capital Group.         During the second quarter of 2009, each of the Entertainment Group and the Capital Group made intergroup loans to the Interactive Group in the amount of $250 million. See note 10.         See Exhibit 99.1 to this Quarterly Report on Form 10-Q for unaudited attributed financial information for Liberty's tracking stock groups. Split Off Transaction         During the fourth quarter of 2008, the Board of Directors of Liberty approved a plan to redeem a portion of the outstanding shares of Liberty's Entertainment Group tracking stock for all of the outstanding shares of a newly formed subsidiary of Liberty, Liberty Entertainment, Inc. ("LEI"), (the "Redemption"). The Redemption and resulting separation of LEI from Liberty are referred to as the "Split Off."         If the Redemption is completed, Liberty will redeem 90% of the outstanding shares of each series of Liberty Entertainment common stock for 100% of the outstanding shares of the same series of LEI, with cash in lieu of fractional shares, in each case, as of a date to be determined by the board of Liberty (the "Redemption Date"). Immediately following the Redemption Date, the holders of Liberty Entertainment common stock will own 100% of the outstanding equity of LEI. At the time of the Split Off, LEI will hold Liberty's interests in DIRECTV (and related collars and debt), Liberty Sports Group and GSN and approximately $30 million in cash. In addition, Liberty and LEI have entered into a revolving credit facility pursuant to which Liberty will provide LEI with up to $300 million principal amount of loans. The Split Off is conditioned on, among other matters, receipt of stockholder approval and receipt of a private letter ruling from the IRS and a tax opinion from tax counsel and is expected to occur in the second half of 2009. The Split Off will be accounted for at historical cost due to the fact that the LEI common stock is to be distributed pro rata to holders of Liberty Entertainment tracking stock.         On May 3, 2009, Liberty and LEI entered into an Agreement and Plan of Merger (the "Merger Agreement") with DIRECTV and other parties named therein, pursuant to which, after Liberty completes the Split Off, LEI and DIRECTV will combine under a new parent company (the "Merger Transaction"). The Merger Transaction is subject to certain closing conditions.   Subsequent to the Split Off, the Entertainment Group will be renamed the Starz Group and will be comprised principally of Starz Entertainment and cash. </div>

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