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
'Uncharted' Reconfigured: 'Spider-Man Homecoming's Tom Holland To Play Young Nathan Drake For Shawn Levy
'Criminal Minds': Kirsten Vangsness & A.J. Cook In Limbo Over Parity Push As Joe Mantegna & Matthew Gray Gubler Re-Up
Latest Business News
- ‘Oslo’ Continues Awards Spree; ‘Indecent’s Paula Vogel, Too: The Obies
- Bob Beckel Accuser Retains Lawyer Behind Fox News Discrimination Suits
- UTA Gets In On Action, Inks Nitro Circus
- Big Media CEO Compensation Rose 21% In 2016: Is It More Out Of Whack Than Ever?
- Who’s Afraid Of Edward Albee? Dramatists Guild Backs ‘Virginia Woolf’ Playwright In Casting Dispute
- U.S.-Asia Institute Organizing Members Of Congress To Go To China In August