In a bid to close the wide gap in value between its Liberty Entertainment tracking stock and the holdings it tracks, Liberty Media will spin out of the majority of the assets into a new, asset-backed stock. The move is intended to make Liberty Entertainment – which tracks a 52 percent stake in DirecTV – easier for investors to value and calm fears that Liberty Chairman John Malone would use the resources of Liberty Entertainment to bolster other struggling assets. Unlike a tracker, an asset-backed stock also would allow Liberty to merge the new entity with DirecTV or sell it to other interested parties. Analysts say AT&T could be a possible suitor and see either a merger or sale of the newly-formed entity as Liberty’s overarching plan. The Wall Street Journal, online.