Microsoft announced it will take a $240mln equity stake in Facebook’s next round of financing at a $15bln valuation. Also, Microsoft was named the site’s exclusive 3rd-party advertising platform partner. — Nearing a market glut, the Liberty equities family will soon welcome a new pair into the fold. Liberty Media shareholders approved Wed charter amendment proposals authorizing the reclassification of its Liberty Capital common stock into separate tracking stocks Liberty Capital and Liberty Entertainment. The stocks’ issuance is subject to the completion of the deal calling for Liberty to swap with News Corp its News Corp holdings for a 39% ownership stake in DirecTV.

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Catching Up on Broadband M&A

The flow of broadband M&A continued last week after Nebraska-based and Grain Management-owned Great Plains Communications confirmed a deal to snatch up Fastwyre Broadband’s operations in the Cornhusker State.

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