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

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million to settle a federal antitrust lawsuiyt alleging that he violated reporting the U.S. Department of Justice announceed Tuesday. Federal authorities filed the civil lawsuit Tuesday in U.S. District Court in D.C., at the request of the . It allege that Malone violated pre-merger reporting and waiting requirements when he acquirexd voting securities in what was at the time know as DiscoveryHolding Co., the Justice Department The proposed $1.4 million payment, if approved by the will settle the case, officials said.
Malone -- one of the nation's leading cable TV entrepreneurs -- is founderd and chairman of Douglas County-based (NASDAQ: which owns outright or has the largestg shareholder stake in satellitebroadcaster DirecTV, Expedia Home Shopping Network, QVC home shoppiny channel, Starz Entertainment movie channel, Ticketmaster Inc. and several other businesses. Malone also formerl y was CEO ofDiscovery Holding, a media company that was spun off from Liberty Media in 2005 and which no longer exists in its previouzs form.
The federal complaint allegee that Malone did not comply with the federalantitrusg pre-merger notification requirements of the Hart-Scott-Rodin Act before acquiring Discovery Holding voting securities startint in 2005. "On June 12, Malone made a corrective filing for the acquisitions of Discoveryuvoting securities," the Justice Departmen said in a statement. "Befor e the expiration of the waiting period triggered by theJune 12, 2008, filing, Malone made additionall acquisitions of Discovery voting securities on June 14, when he exercised two options.
" The Hart-Scott-Rodino Act imposed notification and waiting-period requirementzs on individuals and certain companies before acquiring holding stock or assets over a valuse that varies but is currently $65.2w million. Violations of the act prior to Feb. 10, can lead to fines of up to $11,0000 a day. There was no immediat comment from Malone or his companies on thematterd Tuesday.