Liberty Media is too important a company to ignore, but since it’s mostly a holding company for stock in other publicly traded entities there’s rarely anything surprising in its earnings report. That’s pretty much the case this morning as Liberty reported Q4 operating income of $189M, up from a $60 loss at the end of 2012, on revenues of $1.03B, up from $44M. The big difference? In January 2013 Liberty acquired a controlling interest in SiriusXM. And earlier this month the satellite radio company reported its results for the last three months of 2013 which included a 12% revenue gain vs the previous year to $1B but with a drop in profits in part due to its efforts to retire some debt. Liberty is now trying to acquire the minority interest in SiriusXM that it doesn’t own. “We believe this combination will simplify the capital structure, further align management and provide ultimate strategic and financial flexibility,” Liberty CEO Greg Maffei says this morning. On other fronts, the value of Liberty’s stake in Charter Communications appreciated 1.5% in the last three months of 2013 to $3.67B while Live Nation was +6.4% to $1.05B, and Barnes & Noble was +10.4% to $255M.
Liberty Media Generates Q4 Profit Due To Strength At SiriusXM
What's Hot on Deadline
Latest Business News
- Discovery Chief Says U.S. TV Market Is Weakening While Overseas Grows
- Viacom Renews Distribution Agreement With Mediacom
- ‘Tomorrowland’ Slightly Better In Actuals, But Memorial Day Frame Was Still A Downer – Tuesday B.O. Update
- Vox Media Acquires Tech Site Re/Code
- Who Are The Winners And Losers From The Charter-TWC Mega-Deal?
- Broadway Box Office Tops $1.3B For Record-Breaking 2014-2015 Season