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ENGLEWOOD, Colo. (AP) - Liberty Media Corp. said Wednesday it has asked regulators for permission to convert its non-voting interest in Time Warner Inc. into voting shares ahead of schedule.
The Federal Trade Commission has prohibited Liberty Media from converting the stake, about 4 percent of Time Warner, until February 2007 under an order issued when Liberty Media was a subsidiary of the former cable giant Tele-Communications Inc.
The diversified holding company founded by cable entrepreneur John Malone asked the commission for the right to convert the stock early so it may participate in shareholder votes and actions, Chief Executive Officer-elect Greg Maffei said.
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