Media mogul John Malone is set to purchase more than 900,000 acres of Maine forest land, according to published reports.
The deal, with BBC Land LLC, involves forest lands in eastern and western Maine owned by GMO Renewable Resources and is expected to close on Feb. 1, according to an item in the Bangor Daily News.
Malone is one of the largest private landowners in the United States - he is ranked fifth, tied with the Irving family, which owns 1.2 million acres mostly in Maine, according to Land Report Magazine. This purchase could put Malone closer to the top of the list, currently headed by cable legend Ted Turner, who owns more than 2 million acres across the country.
The Liberty Media chairman told the Associated Press that he intends to continue to manage the parcel as a working forest area.
"My interest in land conservation is well known and this pending land purchase in Maine will further enhance these efforts," Malone told The AP. "I intend to continue the forestry operations consistent with prior practices."
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