Liberty Media Loss Widens

Liberty Media ( L) reported a steeper second-quarter loss from a year ago, with sales staying essentially flat over the period.

The company, which invests in a variety of media entities, reported a second-quarter loss of $3.1 billion, or $1.20 a share, compared to a loss of $2.1 billion, or 82 cents a share, in the year-ago period. Liberty took a $5.1 billion write down for the decline in fair value of its investments in the latest quarter.

Sales were $510 million, versus to $513 million, including revenue from related parties, last year. Shares of Liberty Media finished the regular session up 30 cents, or 3.9%, at $8.10 on Thursday.

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