August 17, 2012 |
Liberty Media informed the Securities and Exchange Commission on Friday that it had acquired more than 48% of Sirius XM Radio's shares and intends to push that amount above 50% in order to take control over the New York satellite radio company. Liberty disclosed the plan several months after it failed to persuade the Federal Communications Commission to grant it control over Sirius based on its ownership of 40% of the company's shares. Sirius' chief executive, Mel Karmazin, rebuffed the takeover attempt at the time, saying Liberty's argument that its 40% stake was sufficient to gain control was akin to proclaiming "Forty is the new 50. " Liberty's chairman, John Malone, might have taken that barb to heart.
May 20, 2011 |
Barnes & Noble Inc. announced late Thursday that it had received a buyout proposal from Liberty Media Corp. in a deal valuing the bookseller at about $1 billion. Liberty, based in Englewood, Colo., owns interests in numerous media, retail and other companies, including the Starz and QVC cable channels, the Expedia and Evite websites and the Atlanta Braves baseball team. The company offered $17 a share in cash for Barnes & Noble, a 20% premium over the bookseller's closing stock price of $14.11 on Thursday.
April 4, 2002 |
John Malone's Liberty Media Corp. had $4.1 billion in costs last year to write down the value of media-company investments, wiping out fourth-quarter earnings. That isn't likely to prevent Malone from making more purchases. Investors say Liberty Media, a holding company for Malone's cable and media investments that reported its fifth-straight loss Monday, may make a second attempt to buy German cable systems after a $5-billion bid was thwarted by regulators in February.
April 25, 2008 |
Liberty Media Corp. Chairman John Malone's compensation package jumped 80% to $6 million in 2007 as his media company worked to streamline its holdings and acquire a stake in El Segundo-based satellite TV provider DirecTV. The company also rewarded Chief Executive Greg Maffei with compensation totaling $19.2 million, more than triple his 2006 package. The bulk of the increase came in stock and stock options that the company valued at $15.1 million.
September 4, 2008 |
Liberty Media Corp. plans to split off its stake in DirecTV Group Inc., a move that may make it easier for Chairman John Malone to acquire the rest of the largest U.S. satellite-TV provider. The new company, Liberty Entertainment Inc., will include almost 50% of DirecTV plus all of cable network Starz Entertainment and Liberty Sports Holdings, Englewood, Colo.- based Liberty Media said Wednesday. The sports unit owns three regional cable networks. Malone could use Liberty Entertainment as a platform to blend DirecTV's distribution with cable and satellite channels, said Chris Marangi, associate manager of the Gabelli Value Fund in Rye, N.Y. Malone obtained his DirecTV stake in a share swap with Rupert Murdoch's News Corp.
August 12, 2008 |
Liberty Media Corp. said its second-quarter revenue rose in each of its three business units, including QVC and its Starz pay television operations, but operating income was flat. Combined revenue grew 13.4% to $2.49 billion, while net income at the three entities, which have different tracking stocks, fell 88% to $125 million, down from $1.01 billion a year earlier. In the year-earlier period, the company benefited from a one-time $629-million gain on asset sales and a $372-million income tax benefit, mainly the result of a share exchange with Time Warner in which Liberty acquired the Atlanta Braves baseball team.