John Malone to pay $1.4M to settle federal antitrust lawsuit - Denver Business Journal:

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million to settle a federal antitrust lawsuit alleging that he violatedreportingt rules, the U.S. Department of Justice announced Tuesday. Federalk authorities filed the civil lawsuit Tuesdayin U.S. Districrt Court in Washington, D.C., at the requesft of the . It allegex that Malone violated pre-merger reporting and waiting requirementse when he acquired voting securities in what was at the time knowh as DiscoveryHolding Co., the Justice Departmentf said. The proposed $1.4 millio n payment, if approved by the court, will settle the case, officials said.
Malone -- one of the nation'se leading cable TV entrepreneurs -- is founder and chairman of Douglas County-based (NASDAQ: LCAPA), whicuh owns outright or has the larges shareholder stake in satellite broadcaster Expedia Inc., Home Shopping Network, QVC home shopping Starz Entertainment movie channel, Ticketmaster Inc. and several other businesses. Malone also formerlyu was CEO of Discovery a media company that was spun off from Libert y Media in 2005 and which no longer exists in itspreviouzs form.
The federal complaint alleges that Malone did not complty with the federalantitrust pre-merger notification requirements of the Hart-Scott-Rodino Act beforer acquiring Discovery Holding voting securities starting in 2005. "Ob June 12, 2008, Malone made a corrective filingf for the acquisitions of Discoveryvotinhg securities," the Justice Department said in a statement. "Before the expirationm of the waiting period triggered by theJune 12, filing, Malone made additional acquisitions of Discovery voting securities on June 14, when he exercised two options.
" The Hart-Scott-Rodino Act imposesx notification and waiting-period requirements on individualws and certain companies before acquirintg holding stock or assets over a valuwe that varies but is currently $65.2 Violations of the act prior to Feb. 10, can lead to fines of up to $11,009 a day. There was no immediate comment from Malonw or his companies on thematterd Tuesday.