This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Liberty Media Reports Third Quarter 2012 Financial Results

Liberty Media Corporation (“Liberty Media”) (Nasdaq: LMCA, LMCB) today reported third quarter 2012 results. Highlights include (1):

  • Increased STARZ and ENCORE subscriptions by 9% and 5%, respectively
  • Launched STARZ PLAY and ENCORE PLAY authenticated online services
  • Raised $500 million of 5%, 7-year senior unsecured bonds at Starz
  • Filed Form 10 with the SEC in connection with the separation of Liberty Media and Starz, LLC
  • Purchased additional shares of SiriusXM increasing our ownership to 49.2%, based on shares outstanding as of October 25, 2012, and filed an application with the FCC for de jure control

“Starz again posted impressive subscriber gains and raised debt at a very attractive rate in September. We launched the STARZ PLAY and ENCORE PLAY authenticated online services,” said Greg Maffei, President and CEO of Liberty Media. “We made progress on the separation of Liberty Media and Starz, with the filing of our Form 10 with the SEC, and are still targeting the end of the year for completion.”

“We continued to increase our ownership of SiriusXM and have stated our intention to go over 50% if we receive approval from the FCC on our pending application for de jure control,” Maffei continued. “Live Nation continues to post solid results and make substantial progress in the areas of social and mobile. We are pleased that Barnes & Noble and Microsoft completed their strategic partnership in NOOK Media and are excited about the launch of the new NOOK HD and NOOK HD+ which began shipping last week.”

Liberty Media

Liberty Media’s revenue increased 3% to $555 million and adjusted OIBDA (2) increased 6% to $137 million in the third quarter. Operating income was flat for the quarter at $111 million. The increase in revenue was primarily due to an increase at Starz and ANLBC. The increase in adjusted OIBDA was primarily due to increases at ANLBC.

Starz, LLC

“As Starz prepares for the upcoming separation from Liberty Media, we are pleased with the investments we have made in quality original programming. The combination of epic originals and terrific theatrical film product helped propel us to yet another set of record highs for STARZ and ENCORE subscribers in the third quarter with 20.8 million and 34.3 million respectively,” said Chris Albrecht, Starz, LLC, CEO. “The value proposition for our premium subscription services was fortified last month with the debut of the STARZ PLAY and ENCORE PLAY TV Everywhere services. Launched first with Cox Communications, we are eager to add more features and functionality, increase device support, launch MOVIEPLEX PLAY, and sign up more distribution partners in the months ahead. On programming, Spartacus: War of the Damned, Da Vinci’s Demons, Magic City and The White Queen give us a strong pipeline of exclusive STARZ Originals that will kick off early next year.”

Starz’s revenue increased 3% to $400 million for the third quarter. Revenue increased for the Starz Distribution business and remained flat for both the Starz Channels and Starz Animation businesses. Starz’s adjusted OIBDA increased 1% to $108 million for the third quarter and operating income decreased 2% to $99 million.

1 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs