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 Fourth Quarter And Year End 2012 Financial Results

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

  • Completed separation from Starz on January 11
    • Received $1.2 billion in connection with the spin-off
  • Received approval from FCC for de jure control of SiriusXM
    • Purchased additional 50 million SiriusXM shares in January
    • Converted remaining preferred shares into common shares
    • Resulting ownership interest above 50%, which resulted in consolidation
  • Purchased additional shares of Live Nation, increasing Liberty ownership to approximately 27%
  • Repurchased $78 million of Liberty Media shares from November 1, 2012 through January 11, 2013, pre-Starz separation, and repurchased $52 million of Liberty Media shares from January 14, 2013 through January 31, 2013, post-Starz separation

“We were pleased to receive approval from the FCC for de jure control of SiriusXM and subsequently increased our ownership interest above 50%,” said Greg Maffei President and CEO of Liberty Media. “SiriusXM again posted strong results and ended the year with almost 24 million subscribers. We increased our ownership stake in Live Nation and are encouraged by the growth in their ticket sales for 2013. At Barnes & Noble, we were pleased by the strategic investment by Pearson in NOOK Media.”

Liberty Media

On January 11, 2013 Liberty Media was spun-off from Starz. The financials as of December 31, 2012 include the financial results of Starz. Liberty will present Starz as discontinued operations when reporting results in the first quarter of 2013. Pro forma, Liberty Media had $1.8 billion in cash and no debt at the time of the spin-off.

Liberty Media’s revenue decreased 52% to $467 million in the fourth quarter and 34% to $2 billion for the year. Adjusted OIBDA decreased 76% to $77 million for the quarter and 58% to $450 million for the year. Operating income decreased 91% to $25 million for the quarter and 66% to $326 million for the year. The decrease in revenue, adjusted OIBDA and operating income was primarily related to a one-time recognition of deferred revenue and costs at TruePosition in the prior year.

1 of 9

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 17,096.09 -17.45 -0.10%
S&P 500 1,988.06 +4.53 0.23%
NASDAQ 4,473.4530 +17.4370 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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