Mel Karmazin
"I think date for Liberty is March of 2012, when that gets triggered. And regarding what exactly we're going to do, obviously, that will be a board decision. We have already had a discussion at the board level about what we should do with our free cash flow. No determination has been made. Historically, I've always believed that a share buyback is a more tax efficient way of returning capital to shareholders as compared to a dividend. But clearly, that's not anything that has been determined. We certainly have not heard anything specific from liberty about their interest in having less ownership in the company. So certainly, from where I'm sitting today, we are not thinking about using the free cash flow to buy in Liberty shares as much as we might be thinking about using it for our public float."
2/15/11 CC
http://seekingalpha.com/article/2529...ipt?part=qanda