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June 25, 2012 | By Meg James
The French media company Vivendi has vowed to appeal the verdict of a federal jury that determined it must pay the American media conglomerate Liberty Media about $950 million in a dispute that dates back to Vivendi's 2002 financial collapse. Liberty Media contended that Vivendi, under its former chief Jean-Marie Messier, fraudulently concealed the dire nature of the company's finances and liquidity from Liberty Media and other investors. Vivendi agreed in December 2001, amid much fanfare, to buy the lucrative USA cable network, the Syfy channel and USA's robust television production studio, assets then managed by Barry Diller, in a stock and cash deal estimated at $10 billion.
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ENTERTAINMENT
March 14, 2014 | By Joe Flint
After the coffee. Before finding my winter coat. The Skinny: Friday's roundup includes the box-office preview and John Malone's latest financial maneuverings. Also, a look at DreamWorks, which hopes "Need for Speed" can be a hit. I'm out of town this weekend, so behave yourself and beware the Ides of March. Daily Dose: The regular season starts for the Dodgers a week from Saturday, with games against the Diamondbacks in Australia. While much of the country will be able to catch the action from down under, the majority of Angelenos will likely be shut out. Time Warner Cable, which is distributing the new Dodger channel, SportsNet LA, for the team, still has no deals with distributors other than itself.
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ENTERTAINMENT
August 17, 2012 | By Alex Pham
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.
ENTERTAINMENT
February 11, 2014 | By Joe Flint
Having failed in its initial effort to buy Time Warner Cable, Charter Communications now wants to take over the company's board of directors. On Tuesday Charter announced a slate of directors it will nominate to Time Warner Cable's board at its annual meeting later this year. The 13 nominees include James Chiddix, a former chief technology officer for Time Warner Cable and Lisa Gersh, former president of Martha Stewart Living Omnimedia and Oxygen Media. The hostile move comes about a month after Time Warner Cable rejected Charter's unsolicited offer of $132.50 a share and sets up a proxy fight for the company.
ENTERTAINMENT
October 28, 2013 | By Joe Flint
AMC Networks Inc., parent of cable channels AMC, WE and IFC, has struck a deal to acquire Liberty Global's Chellomedia for $1.035 billion. For New York-based AMC Networks, the acquisition will vastly increase its international presence. Chellomedia has some 70 channels in about 140 countries that are available in almost 400 million homes that AMC can place its product in. Most of Chellomedia's outlets are in Europe and Latin America. "This acquisition allows us to secure a large, global platform on which to distribute our increasingly successful original programming through a collection of strong, well-established and well-managed assets worldwide,” said Josh Sapan, CEO of AMC Networks.
BUSINESS
May 20, 2011 | By Andrea Chang, Los Angeles Times
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.
BUSINESS
April 4, 2002 | Bloomberg News
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.
BUSINESS
April 25, 2008 | From Times Staff and Wire Reports
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.
BUSINESS
September 4, 2008 | From Bloomberg News
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.
BUSINESS
August 12, 2008 | From Times Wire Services
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.
ENTERTAINMENT
October 28, 2013 | By Joe Flint
AMC Networks Inc., parent of cable channels AMC, WE and IFC, has struck a deal to acquire Liberty Global's Chellomedia for $1.035 billion. For New York-based AMC Networks, the acquisition will vastly increase its international presence. Chellomedia has some 70 channels in about 140 countries that are available in almost 400 million homes that AMC can place its product in. Most of Chellomedia's outlets are in Europe and Latin America. "This acquisition allows us to secure a large, global platform on which to distribute our increasingly successful original programming through a collection of strong, well-established and well-managed assets worldwide,” said Josh Sapan, CEO of AMC Networks.
ENTERTAINMENT
October 10, 2013 | By Meg James
John Malone's Liberty Media Corp. has paid Comcast Corp. $417 million in cash to buy back shares in Liberty Media that Comcast held. Comcast's interest in Liberty dates back to the Philadelphia-based cable company's sale 10 years ago of its stake in TV home shopping network QVC. Comcast owned about 6.3 million shares of Liberty. Thursday's deal also ended a long-standing revenue-sharing agreement involving the business news network, CNBC. Englewood, Colo.-based Liberty received a portion of CNBC revenue in a complicated arrangement that dates back at least two decades.
ENTERTAINMENT
July 15, 2013 | By Joe Flint
Cable pioneer John Malone, chairman of Liberty Media, hasn't been shy about advocating for more consolidation in the pay-TV space. Last week, at the Allen & Co. conference in Sun Valley, Malone suggested that satellite broadcasters DirecTV and Dish Communications should merge. Malone isn't the first to advocate a Dish-DirecTV marriage. A decade ago the two companies tried to combine forces but were rebuffed by regulators.  Besides pushing for the nation's two satellite players to combine, Malone has said some of the biggest cable operators also should consider getting together.
ENTERTAINMENT
June 17, 2013 | By Joe Flint
After the coffee. Before reassessing my priorities. The Skinny: I'm going to try to take a quick look at CNN's new morning show (which aired at 3 a.m out here) so I can at least see the opening. Monday's headlines include the incredible performance of "Man of Steel" and Netflix's new programming deal with DreamWorks Animation. Daily Dose: President Obama was left on the cutting-room floor of CBS' new summer series "Under the Dome. " Based on a Stephen King book, the end of the first episode featured audio from Obama seeming to address the events of the series - which is about a town that finds itself one day mysteriously trapped under a dome.
ENTERTAINMENT
March 20, 2013 | By Joe Flint
Federal Communications Commissioner Robert McDowell, who was seen as a free-market advocate and friend to the media industry and a foil to FCC Chairman Julius Genachowski, announced he is leaving the regulatory agency in the next few weeks. A Republican, McDowell has been at the FCC for almost seven years and was seen as a potential chairman if Mitt Romney had won the White House in November. McDowell did not say what his future plans are. McDowell often disagreed with Genachowski on how to best regulate the media industry.
ENTERTAINMENT
March 19, 2013 | By Joe Flint
Media mogul John Malone is returning to his roots. Malone's Liberty Media is acquiring 27% of cable television operator Charter Communications for $2.62 billion. Liberty is buying 26.9 million Charter shares and 1.1 million warrants at a per-share price of $95.50 from private equity firms Apollo Management, Oaktree Capital Management and Crestview Partners. As part of the agreement, Liberty will have four seats on the Charter board. In return, Liberty said it would keep its holdings in Charter under 40% and not engage in lobbying on behalf of other potential board members as long as its own spots on the board were safe.
BUSINESS
January 22, 2004 | From Dow Jones/Associated Press
Liberty Media Corp. has increased its stake in media behemoth News Corp., becoming its largest shareholder and second-largest voting block, according to a regulatory filing. Englewood, N.J.-based Liberty Media, which owns stakes in various media companies, bought a 9.15% voting interest in News Corp., bringing its total equity interest to about 17%. From Dow Jones/Associated Press
BUSINESS
February 15, 2002 | Associated Press
Liberty Media's plan to become Germany's dominant cable-TV operator hit a new hurdle when regulators warned they may prevent the U.S. company from acquiring "last-mile" connections held by German operator TeleColumbus. Liberty Media wants to purchase the network from Deutsche Bank to complement a $4.9-billion deal in which it would buy six regional cable-TV networks from debt-laden Deutsche Telekom, the former German phone monopoly.
ENTERTAINMENT
February 6, 2013 | By Joe Flint
After the coffee. Before seeing how 'Smash' did in the ratings. The Skinny: I tried to get back into "Smash" last night but they lost me for good with the "Would I Lie to You" number. "Smash" makes me appreciate "Nashville" all the more. Wednesday's headlines include Fox looking to get an early jump on next year's Super Bowl, CBS talks on the record about Joe Flacco's swearing and why they don't want to put a delay on live sports and Liberty Media buys British pay-TV operator Virgin Media.
ENTERTAINMENT
January 2, 2013 | By Joe Flint
After the coffee. Before making sure I don't blow 2013 in the first week. T he Skinny: I saw "Django Unchained" on New Year's Day. It's "Blazing Saddles" meets blaxploitation. It's also, like every movie coming out these days, about 40 minutes too long. Wednesday's headlines include a look at what the new owners of Tribune Co. are thinking, lessons from the box office and whether Ann Curry is looking to change gigs.  Daily Dose: Be careful what you wish for. Last year, the new HBO comedy "Girls" about four friends in Brooklyn and their messy lives, took a lot of heat from some critics for not having a diverse cast.
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