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Short Take: AT&T responds to FCC on Liberty Media sale

AT&T said it is "on track" to spin off Liberty Media to meet a condition of its purchase of MediaOne. The company answered concerns by the Federal Communications Commission that it wasn't fully committed to a sale by saying only the timing is uncertain, subject to a federal ruling that might spare AT&T heavy taxes for unloading Liberty less than two years after purchase.

AT&T said it is "on track" to spin off Liberty Media to meet a condition of its purchase of MediaOne. The company answered concerns by the Federal Communications Commission that it wasn't fully committed to a sale by saying only the timing is uncertain, subject to a federal ruling that might spare AT&T heavy taxes for unloading Liberty less than two years after purchase.