Liberty Interactive Corp., Series A Liberty Ventures Common StockNASDAQ
Sat, Oct. 1, 9:57 AM
- A holder of the original Liberty Media in 2004 - prior to the split of its U.S. and international assets into separate companies - would have seen annualized returns of 13% vs. 7.5% for Berkshire Hathaway and 7.7% for the S&P 500, according to Gamco's Christopher Marangi.
- While the complex structure of Liberty's businesses and assets - housed under five main corporate structures, and within that group nine stocks, including seven tracking stocks - can make it challenging for investors, there's plenty to gain from taking the time to understand it.
- A handy guide is here.
- "The Malone magic formula starts with good businesses that are within his core competency, then putting the right management teams in place and leveraging those companies appropriately,” says Marangi, noting one of Gabelli's golden rules is be on the same side of the table as John Malone.
- Tickers: LSXMK, LMCK, BATRK, QVCA, LVNTA, LBTYK, LILAK, LBRDK, LTRPA, LMCA
Thu, Sep. 22, 3:56 PM
- Liberty Interactive (QVCA +5%, LVNTA +1.9%) is on the climb today after CEO Greg Maffei suggested a turnaround in the company's revenue (and share price) fortunes.
- "We don't see any evidence of continuing declines below this level," Maffei said at the Communacopia Conference today. "In fact, we see some green shoots, suggesting upside."
- Shares of QVCA are down 28.5% YTD -- much of that coming after a Q2 earnings report where it noted growth falling off in the U.S.
- Asked about the company's discount to HSN (HSNI +2.9%) -- of which Liberty Interactive owns 38% -- Maffei says some may think Liberty may buy out HSN "at a big number," but denies that will happen.
- “If the numbers are right, we’ll do it, but we’re not gonna do it at some crazy multiple," Maffei says.
Mon, Aug. 22, 6:24 PM
- CommerceHub (CHUBA +2.5%) posted slightly higher revenues, but lower profits, in its first earnings report since spinning out of Liberty Interactive (QVCA, LVNTA).
- Revenues rose 16% with a higher headline gross margin (77% vs. a year-ago 73%), but adjusted EPS fell to $0.06/share and EBITDA fell to $6.3M from a year-ago $8.3M.
- Total customers at quarter's end was 9,726, vs. a year-ago 9,191.
- Cash and equivalents came to $6.95M. compared with $19.3M at the end of 2015.
- Press Release
Fri, Aug. 5, 8:30 AM
Fri, Jul. 22, 6:41 PM
- Liberty Interactive (QVCA, LVNTA) has wrapped up a spin-off of its CommerceHub subsidiary, making it a separate publicly traded firm.
- CommerceHub will start trading regular way on Monday, with Series A common (NASDAQ:CHUBA) and Series C common (NASDAQ:CHUBK) on Nasdaq, and Series B common (CHUBB) on OTC.
- Liberty will post a deck with information about the spin-off and CommerceHub's capitalization on Monday.
Fri, Jul. 8, 4:58 PM
- Liberty Interactive (QVCA +2.3%, LVNTA +2.5%) has announced a new proposed distribution date for its spin-off of CommerceHub.
- That's due to a registration statement still under review at the SEC. So the company is delaying the planned distribution from next Wednesday to July 22 at 5 p.m. ET.
- The record date remains 5 p.m. ET today.
- As planned, holders of Liberty's series A and series B Liberty Ventures common stock (LVNTA, LVNTB) will receive 0.1 shares of the corresponding series of CH Parent common stock, as well as 0.2 shares of CH Parent Series C stock.
- The company expects CH Parent Series A stock to trade on Nasdaq as CHUBA; Series C shares to trade on Nasdaq as CHUBK; and Series B shares to trade on the OTC markets under CHUBB; now starting July 25.
Tue, Jun. 28, 6:52 PM
- Liberty Interactive (QVCA +2%, LVNTA +2.5%) has set dates around its spin-off of CommerceHub.
- The record date for distributing shares is July 8 at 5 p.m. ET. It plans a distribution (via dividend) for 5 p.m. on July 13 of shares of CH parent common stock to execute the spin-off.
- Holders of Liberty's series A and series B Liberty Ventures common stock (LVNTA, LVNTB) will receive 0.1 shares of the corresponding series of CH Parent common stock, as well as 0.2 shares of CH Parent Series C stock.
- The company expects CH Parent Series A stock to trade on Nasdaq as CHUBA; Series C shares to trade on Nasdaq as CHUBK; and Series B shares to trade on the OTC markets under CHUBB; all starting July 14.
Fri, Feb. 26, 8:08 AM
- Liberty Interactive (NASDAQ:QVCA): Q4 Adj. net income of $312M.
- Revenue of $3.23B (+16.2% Y/Y) misses by $20M.
Nov. 12, 2015, 10:08 AM
- On a heavy reorg day for Liberty stocks, with Liberty Media recapitalizing its stock groups, Liberty Interactive/Liberty Ventures (QVCA -0.8%, LVNTA +1.5%) is set to pursue two spin-offs: CommerceHub, and Liberty Expedia Holdings.
- CommerceHub would consist of that integration services company -- easy -- while Expedia Holdings would encapsulate Liberty Interactive's ownership in Expedia as well as Bodybuilding.com.
- The company expects the CommerceHub A and B shares to trade as CHUBA and CHUBK, while the Expedia Holdings shares would trade as LEXEA and LEXEB on Nasdaq.
- The tax-free moves would leave Liberty Ventures Group with businesses not in the QVC Group, including Evite, LMC Right Start, the interests in FTD, Lending Tree, Interval Leisure, Time Warner and Time Warner Cable along with other securities.
Nov. 4, 2015, 4:37 PM
- Liberty Interactive (NASDAQ:QVCA): Q3 Net income of $154M
- Revenue of $2.15B (-7.7% Y/Y) beats by $150M.
Oct. 1, 2015, 3:25 PM
- Liberty Interactive (QVCA +0.5%, LVNTA +1.2%) has acquired all the remaining shares of Zulily (NASDAQ:ZU), wrapping its $2.4B deal.
- The deal was completed through a second-step merger of Liberty's Mocha Merger Sub unit into Zulily. Shares of QVCA and cash have been delivered and Zulily's no longer trading.
- Liberty plans to maintain separate brands for QVC and Zulily, and has pointed toward Zulily-branded sales events both on the air and online.
Aug. 17, 2015, 8:06 AM
- Liberty Interactive (NASDAQ:LVNTA), (NASDAQ:QVCA) agrees to buy zulily (NASDAQ:ZU) for $18.75 per share - $9.375 in cash and 0.3098 newly issued shares of QVCA. The deal is expected to close in Q4.
- A conference call to discuss the merger is set for 9 ET
- Zulily closed Friday at $12.57.
- Previously: Zulily halted with news pending (Aug. 17)
Aug. 5, 2015, 8:35 AM
- Liberty Interactive (NASDAQ:QVCA): Q2 net income of $242M
- Revenue of $2.25B (-9.3% Y/Y) beats by $270M.
May 18, 2015, 4:31 AM
- Discovery Communications (NASDAQ:DISCA) CEO David Zaslav received total compensation of $156M in 2014, making him the highest-paid boss of a U.S.-listed company, excluding the top private-equity firms, an NYT-commissioned survey finds.
- Next on the list is Liberty Global's (NASDAQ:LBTYA) Michael Fries with $112M, while Gregory Maffei earned $74M for heading Liberty Media (NASDAQ:LMCA) and Liberty Interactive (NASDAQ:LVNTA). With Charter Communications' (NASDAQ:CHTR) Thomas Rutledge raking in $16M, four CEOs of companies controlled by or heavily associated with media mogul John Malone took home over $350M.
- Still, the Malone boys have nothing on Kenneth Griffin, the founder and CEO of P-E firm Citadel, who earned a mere $1.3B.
May 8, 2015, 8:46 AM
- Liberty Interactive (NASDAQ:QVCA): Q1 net income of $91M
- Revenue of $2.21B (-9.4% Y/Y) beats by $220M.
Feb. 25, 2015, 6:48 PM
- Liberty Interactive (NASDAQ:QVCA) posted solid revenues on the back of QVC's strong U.S. performance, while the company said international markets did well despite currency headwinds.
- U.S. revenues increased 5% to 2B (for the full year, up 4% to $6.1B) and grew in all categories except electronics.
- Units sold increased 9% in Q4; average selling price slipped 5% to $61.64 and returns improved 40 bps.
- QVC outstanding debt was up $0.8B, to $4.6B at year's end.
- Liberty Ventures Group closed its sale of Provide Commerce to FTD on Dec. 31 for $145M in cash and about a 35% ownership interest in FTD.
- "We are also pleased by the performance of the Liberty Ventures and QVC Group stocks post the reattribution we completed in October, with both stocks trading above their respective pre-reattribution levels," says CEO Greg Maffei.
- The company repurchased about 3.8M QVC Group A shares for a total of $107M from Nov. 1-Jan. 31, leaving a buyback authorization of $677M. No repurchases of Liberty Ventures A (NASDAQ:LVNTA); remaining authorization there is $812M.
- Total consolidated GAAP cash at year's end was $2.31B. Total debt was $8.1B.