Jun. 23, 2009 (United Press International) -- A U.S. media chief will pay $1.4 million in penalties to settle charges he violated notification requirements ahead of a merger, the Justice Department said.

John C. Malone, chairman of Liberty Media Corp. (NASDAQ:LINTA) (NASDAQ:LCAPA) (NASDAQ:LMDIA) , was accused of violating notification requirements of the Hart-Scott-Rodino act before acquiring Discovery Holding Co., a provider of non-fiction television entertainment, Justice Department officials said in a news release issued Tuesday.

The Justice Department's Antitrust Division filed a civil antitrust lawsuit against Malone as well as a proposed settlement -- if approved by the court -- that would settle the charges.

The Hart-Scott-Rodino Act imposes notification and waiting period requirements on individuals and companies over a certain size before the completion of any acquisition that results in holding stock or assets above a certain value, which was $53.1 million in August 2005, and with annual adjustments to reflect changes in gross national product is currently $65.2 million.