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Liberty Media to Spin Off Discovery Communications

LONDON – Liberty Media Corp. (L) is spinning off its stakes in Discovery Communications and Ascent Media Group as John Malone (search) continues to reshape his vast holdings in a bid to prove they should be valued higher. The transaction, announced on Tuesday, will create a new publicly traded company …

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Neiman Marcus Mulling Sale of Company

NEW YORK – Neiman Marcus Group Inc. (NMGA) said Wednesday it is weighing a sale of the company, sending shares of the luxury department store operator up as much as 16 percent to a record high. The Dallas-based company, which hired Goldman Sachs & Co. (GS) as its financial adviser, …

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Rather Era at 'Evening News' Comes to End

NEW YORK – Dan Rather (search) echoed a word he once briefly used to sign off the “CBS Evening News” — courage — in anchoring the program for the final time after 24 years on Wednesday. In a brief statement at the end of the broadcast, Rather paid tribute to …

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