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Liberty Media Solidifies Cendant Investment; Spends $256 Mil for More Stock

DENVER-Liberty Media isn't standing idle as it awaits a break from AT&T. The Colorado-based Liberty has spent another $256 million for Cendant stock, bringing its total up to $656 million since last year.

By John Rebchook | Updated on November 29, 2000

DENVER-In a complicated deal, Douglas County based Liberty Media Corp. has increased its stake in New York City-based Cendant Corp. by more than $250 million.

Cendant, among other things, franchises a number of hotels, including Days Inn, Howard Johnson, Ramada Inn and Travelodge. Liberty could provide its high-speed Internet access and cable programming to Cendant’s hotels. In addition, Cendant, whose stock has been in a freefall lately, owns travel, mortgage and membership businesses. Its real estate holdings include Coldwell Banker and CompleteHome.com, a real estate Internet site.

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