International Family Entertainment announced that Liberty Programming, a subsidiary of Liberty Media, and Christian Broadcasting Network have exercised their option to buy Intl.Family shares. The Virginia Beach cable programmer said it will receive $ 26.9 million in cash on sale of a total of 2.5 million shares. IFE said Liberty will purchase 1.5 million shares and Christian Broadcasting will purchase 1 million shares at a purchase price of $ 10.875 per share.
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