Denver, Colorado?WildBlue Communications, Inc. today announced that it completed a $350 million debt financing led by Liberty Media Corporation and Tennenbaum Capital Partners LLC.  The $350 million of secured financing enhances the company?s capital structure and provides additional capital to fund the continuing growth of WildBlue?s broadband business.  WildBlue provides broadband connectivity via satellite to homes and small businesses in communities where terrestrial broadband access alternatives are either limited or unavailable.

?The WildBlue team has worked very hard this year to make our affordable broadband Internet service available to homes and small businesses in rural areas across the continental U.S.,? said Dave Leonard, CEO of WildBlue.  ?Our customer base continues to expand rapidly, with over 85,000 customers in rural areas who?ve taken advantage of the availability of WildBlue?s high speed service to date.  We are now adding over 10,000 new subscribers per month, and this funding enables substantial expansion of our service availability by tripling our customer capacity with the launch of our second satellite, WildBlue-1. Liberty Media has been instrumental in helping us achieve our growth objectives over the past year, and we welcome Tennenbaum Capital?s expertise as an experienced telecommunications investment leader as we continue to expand our operations.?

The credit facility refinances a portion of the shareholder financing WildBlue secured in January of 2006, and also provides $170 million of additional financing for the company.  Certain other shareholders who participated in the original financing, such as the National Rural Telecommunications Cooperative, are also participating in this new expanded financing.  Q Advisors LLC acted as financial advisor to WildBlue in connection with the transaction. Terms of the financing were not disclosed.

?WildBlue has achieved an incredibly fast-paced and positive first year of service,? said Mark Carleton, Chairman of WildBlue?s Board of Directors.  ?This additional financing is a strong validation of WildBlue?s business, and also serves as a testament to the strong appeal that its high-speed Internet via satellite service offers to customers nationwide.?

?WildBlue is a leading provider of innovative broadband services for the rural marketplace.  The company has created a very strong competitive offering, and has developed a formidable set of distribution partners that will enable the company to execute its business plan,? said Michael Leitner, Managing Director of Tennenbaum Capital. ?We are excited about the opportunity to support their strategic initiatives and believe that their revenue and cash flow growth potential is excellent, given surging demand for broadband services in these historically underserved geographies.  WildBlue is the latest in a series of investments Tennenbaum is making in the communications services arena and reflects our confidence in the company and its management team."

An always-on broadband Internet connection, WildBlue?s service offers access speeds over 30 times faster than dial-up.  WildBlue's two-way satellite service provides high-speed data in both upstream and downstream directions.  Customers do not need a phone or cable line in order to receive broadband Internet access.

About Liberty Media Corporation

Liberty Media Corporation (NASDAQ:  LCAPA, LCAPB) owns a broad range of electronic retailing, media, communications and entertainment businesses and investments. Its businesses include some of the world's most recognized and respected brands and companies, including QVC, Encore, Starz, IAC/InterActiveCorp, Expedia and News Corporation.

About Tennenbaum Capital Partners, LLC

Tennenbaum Capital Partners is a Santa Monica, California-based private investment firm managing over $4 billion in private funds. Tennenbaum focuses on investment opportunities between $50 million to $250 million. The firm's investment strategy is based on a long-term horizon and value-oriented approach. Tennenbaum's core strengths include an in-depth knowledge of equity and debt financing vehicles in the public and private markets with a focus on complex investments such as acquisitions and special situations. Tennenbaum has extensive investment experience in several industries, including retail, manufacturing, energy and power as well as telecom and technology.  More information is available at www.tennenbaumcapital.com.

About WildBlue
WildBlue Communications, Inc. was established to provide broadband access to consumers and small offices in rural areas and small cities. WildBlue Communication's high-speed satellite broadband service is easy to use, reliable, always on, and significantly faster than standard dial-up service.  It opens up a window to a world of rich content that is largely unavailable through dial-up service and is accessible in areas traditionally unserved by cable modem or DSL service. Service is available in the continental United States. For more information visit www.wildblue.com. 

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