Liberty Media Corporation Announces That Doug Briggs, QVC President and CEO, Plans to Retire in 2006

Liberty Media Corporation Announces That Doug Briggs, QVC President and CEO, Plans to Retire in 2006

ENGLEWOOD, Colo., April 18 /PRNewswire-FirstCall/ -- Liberty Media Corporation (NYSE:L)(NYSE:LMC.B) today announced that Doug Briggs, President and CEO of QVC, Inc., has decided to retire from QVC in March 2006.

Mr. Briggs has been with QVC since its inception in 1986 rising to the position of President and CEO in 1995. Prior to becoming President and CEO, Mr. Briggs served as QVC's President of Electronic Retailing. Mr. Briggs has also served as QVC's Executive Vice President (EVP) of Electronic Retailing and EVP of Programming & Merchandising.

"QVC has been an important and fun part of my life for almost 20 years but there are other things in life that I would like to do," said Mr. Briggs. Mr. Briggs went on to say, "I am looking forward to spending more time with my family and friends and to enjoying all of the things I have postponed as I focused on running the QVC business."

Robert Bennett, Liberty Media President and CEO, stated, "QVC, under Doug's leadership, has been an amazing success story, growing revenue from $1.5 billion in 1994 to $5.7 billion in 2004. This excellent financial performance is the result of the very strong culture of integrity and respect for the customer that Doug has nurtured over many years. We are going to miss his leadership; however, I am very pleased that we will have the benefit of Doug's guidance for the next year and his invaluable input as we search for his replacement."

Liberty Media, with Mr. Briggs' assistance, has begun a search for a new CEO and expects to be completed within six to nine months.

Mr. Bill Costello, QVC's COO, CFO and President of the International Division, has indicated that he intends to retire after the first quarter of 2007. Ms. Darlene Daggett, QVC's President of U.S. Commerce, and the other members of the senior management team have indicated that they intend to stay with QVC for the long-term. Mr. Bennett commented: "We are very grateful that Bill and Darlene have agreed to stay with us for the next two years, in Bill's case, and a longer period of time in Darlene's case. Bill, Darlene and the rest of the senior management team have been invaluable contributors to the success of QVC and we look forward to their continuing contributions and their help with our CEO transition."

Liberty Media Corporation (NYSE:L)(NYSE:LMC.B) is a holding company owning interests in a broad range of electronic retailing, media, communications and entertainment businesses classified in three groups; Interactive, Networks and Tech/Ventures. Our businesses include some of the world's most recognized and respected brands and companies, including QVC, Encore, STARZ!, Discovery, IAC/InterActiveCorp, and News Corporation.

Source: Liberty Media Corporation

CONTACT: Mike Erickson of Liberty Media Corporation, +1-877-772-1518

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