Investing With An Edge: Liberty Media
Andrew Walker, CFA • 14 Comments
Andrew Walker, CFA • 14 Comments
Jan. 28, 2015, 6:05 PM
Jan. 28, 2015, 8:41 AM
- Liberty Media (NASDAQ:LMCA) CEO Greg Maffei says that the government will likely approve the giant media merger deals on the table -- Comcast (NASDAQ:CMCSA) with Time Warner Cable (NYSE:TWC), and AT&T (NYSE:T) with DirecTV (NASDAQ:DTV) -- but the key issue will be what the firms are forced to give up.
- "My bet would be that all those deals get done," Maffei tells CNBC. "What is the set of regulations or restrictions around them and what the acquiring companies have to agree to, that'll be the rub."
- Liberty's interest in Charter Communications (NASDAQ:CHTR) is on his mind: "Charter has been an acquirer, is going to continue to be an acquirer" -- and Charter will have room to make buys if Comcast ends up swallowing TWC.
- Previously: Comcast-Time Warner Cable merger review clock running again (Jan. 13 2015)
- Previously: DirecTV hiking prices ahead of AT&T deal's closing (Dec. 29 2014)
Jan. 9, 2015, 11:33 AM
- Liberty Media (LMCA -1.3%) CEO Greg Maffei has been given more voting control of TripAdvisor (TRIP +0.7%), according to a new SEC filing.
- Maffei gained through an asset swap 2.8M B shares (10 votes per share) of Liberty TripAdvisor held by John Malone.
- Liberty TripAdvisor in turn has majority voting control of TripAdvisor.
- SEC Form 13D
Nov. 5, 2014, 12:49 PM
Oct. 9, 2014, 3:12 PM
- Liberty Media (NASDAQ:LMCA) CEO Greg Maffei hints that the company may look to swap its position in Expedia (EXPE -1.7%) for another investment during his talk at a media conference.
- Maffei says the company is looking for opportunities in digital and mobile disruption.
- Webcast of the FBR Digital Media Thought Leaders Conference
Aug. 5, 2014, 7:58 AM
- Liberty Media (NASDAQ:LMCA): Q2 Net Income of $120M.
- Revenue of $1.16B (+7.4% Y/Y) in-line.
Aug. 5, 2014, 7:55 AM
- Liberty Media (NASDAQ:LMCA) reports its ownership in SiriusXM (NASDAQ:SIRI) grew to 56% in Q2.
- The company's spinoff of Liberty Broadband is scheduled to occur in 2H of 2014.
- Under the terms of the spinoff, shareholders will receive one-fourth of a share of the corresponding series of Liberty Broadband common stock for every whole share of Liberty Media's common stock held by them.
Jul. 2, 2014, 8:27 AM
May 19, 2014, 7:43 AM
May 8, 2014, 12:37 PM
- Liberty Media (LMCA +0.7%) announces it will spin off all of its cable assets into a new company called Liberty Broadband.
- The distribution is expected to take place before the end of the year.
- Liberty Broadband will hold positions in Charter Communications (CHTR -0.4%), Time Warner Cable, and True Position Technology.
May 4, 2014, 10:05 AM
- DreamWorks Animation (DWA) CEO Jeffery Katzenberg fired out a warning to the movie industry during his talk at the Milliken Global Conference in Beverly Hills last week.
- “Movies are not a growth business,” exclaimed the exec who cut his teeth on the medium.
- Katzenberg sees a future where movies play for a short period of three weeks at theaters for $15.00 - followed by a run on TV at $4.99 and smartphones at $1.99. The forecast doesn't bode well for theater operators and associated businesses.
- DreamWorks plans increasing its focus on shortform (digital and TV) in response.
- Liberty Media (LMCA) CEO Greg Maffei also cautioned at the conference of a seismic change in the media industry as "clutter" from video games and social media crowds out traditional entertainment channels.
- Movie studio stocks: DIS, LGF, SNE, VIAB, TWX, FOXA, VIA, CMCSA
- Movie exhibitor/equipment stocks: CKEC, CNK, RGC, MCS, RDI, AMC, IMAX, DCIN
- Related ETF: PBS
Apr. 10, 2014, 8:12 AM
- Charter Communications (CHTR) could threaten to make a raised bid for Time Warner Cable (TWC) in order to gain negotiating leverage with Comcast (CMCSA) over the subscribers it needs to divest, according to analysts.
- The game theory for the company is tricky with it needing to be careful to not cross a line that pushes Comcast away from the table over the subs.
- John Malone, the power behind Charter investor Liberty Media (LMCA), wants to see the cable company become a "horizontal acquisition machine" as it buys up assets piecemeal.
Apr. 3, 2014, 9:49 AM
- Barnes & Noble (BKS -10.2%) plunges at the open after Liberty Media (LMCA -0.1%) says it is selling the majority of its stake in the bookseller.
- LMCA will retain a 10% stake to allow BKS "greater flexibility" to right itself and will give up its right to have two representatives on the BKS board.
- In 2011, LMCA purchased a 17% stake in BKS, which has struggled to compete in a market increasingly dominated by mobile devices and downloadable data.
Apr. 2, 2014, 8:05 AM
- The 10% drop in the stock price of Comcast (CMCSA) over the last seven weeks has complicated its planned merger with Time Warner Cable (TWC).
- The value of Comcast's offer is now down to $143.55 per share compared to $158.82 per share when the deal was announced.
- What to watch: Though the acquisition agreement doesn't contain a collar which forces Comcast to kick in more shares, a higher deal price from another bidder could still emerge. Charter Communications (CHTR) with backer Liberty Media (LMCA) in tow comes to mind.
Mar. 14, 2014, 9:20 AM
Mar. 14, 2014, 8:21 AM
- Shares of Liberty Media (LMCA) are flying higher in early trading after the company creates a pair of tracking stocks.
- Analysts say the new setup, which includes pulling an offer to buy out Sirius XM (SIRI), removes a lot of risk from the equation while providing clearer channels for investors to bet on the media conglomerate's underlying assets.
- SIRI -0.6% as its left dangling in the wind a bit, while LMCA is +9.0% premarket.
Liberty Media Corp. engages in the business of media, communications and entertainment. The company operates through its subsidiaries, which includes Atlanta National League Baseball Club, Inc. (ANLBC) and TruePosition, Inc. ANLBC owns and operates the Atlanta Braves, a major league baseball... More
Industry: Broadcasting - TV
Country: United States
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