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Liberty Media Corp., which was once considered an investor in media companies, has been moving to become an operator of its own businesses. And the media has become heavily involved in the Internet, so Liberty Media should duly become interested in web content and distribution as well. This interest has led Liberty Media to take a controlling stake in sports and nutrition and fitness information site, BodyBuilding.com, for more tan $100 million, according to the WSJ.
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Liberty Media is buying the stake from both the site's founding family, which sold a 60% interest in the company to Milestone Partners in 2006, as well as from Milestone Partners. While Liberty Media has been rather involved with the distribution of cable networks, Liberty Media is continuing to shift with the times not only by controlling more of the content it distributes, but delving deeper into the realm of Internet distribution as well as social networking. With investing interests in several large media conglomerates, including Starz, News Corp. and Time Warner, this traditional media company now has a hefty social network on its hands.