Live Nation (LYV) has named Liberty Media (LMCA) CEO Greg Maffei as Chairman to replace Irving Azoff, who left in December to start an artist-representation firm. Liberty is Live Nation's largest shareholder with a 27% stake, and Maffei has been on the latter company's board since February 2011. (PR)
Satellite radio is just beginning to build its footprint with a large percentage of automobiles now embedded with the technology in a trend which Lazard Capital Markets' Barton Crocket thinks bodes well for Sirius XM Radio (SIRI -0.9%). The analyst calls the chance for a SIRI spinoff from Liberty Media (LMCA +0.8%) a very real possibility in a few years.
The inevitable has finally happened and Liberty Media (LMCAD) has taken majority control of Sirius XM Radio (SIRI) by increasing its stake to 50.7% after acquiring 50M shares at $3.15 each. Liberty has said in the past that Sirius should improve its technology and expand internationally.
Shares of Starz (STRZA) rise 9.7% in their Nasdaq debut after spinning off from Liberty Media (LMCA +1%). The company - which boasts about 55M subscribers for its Starz, Encore, and Movieplex channels - is considered by analysts to be a juicy target for a large media company.
Liberty Media (LMCA) has been awarded a €765M ($999M) judgment in its lawsuit against Vivendi SA (VIVHY.PK). The case stems from Vivendi’s 2001 purchase of LMCA’s stake in USA Networks. A jury awarded the damages, agreeing with Liberty Media’s claim that Paris-based Vivendi misled it about a liquidity crisis at the company, artificially inflating the value of its shares, which it used to make the purchase.
An early termination notice from the FTC indicates the agency doesn't have a problem with a proposed move by Liberty Media (LMCA -0.9%) to spin off its Starz premium movie channel into an independent company. The spinoff could happen as early as January 8th and is structured to be a tax-free transaction for investors.
Liberty Media (LMCA) has won FCC approval to obtain de jure control of Sirius XM (SIRI). Liberty, which currently has a 49.8% stake in the satellite radio provider, says it expects to gain control of Sirius within the next 60 days. SIRI +1.3% AH.
Live Nation (LYV +3.7%) chairman Irving Azoff has resigned and sold 1.7M shares in the company to Liberty Media (LMCA +1.7%). "My job here is done," says Azoff, whose sale raises Liberty's stake in the concert production/ticketing firm to 26.4%. Live Nation plans to announce a new chairman before its next board meeting, a source tells Bloomberg.
DirecTV (DTV -1.5%) launches a streaming service which allows customers to watch Starz or Encore on Internet-connected devices. It's a nice move for Starz as it looks to pick up the slack from its break with Netflix.
Liberty Media (LMCA) starts the process of shopping premium channel Starz to media companies, according to the New York Post. Potential buyers: Time Warner (TWX), CBS (CBS), News Corp. (NWS), Viacom (VIA).
Six of one, a half dozen of the other: Maxim says investors can buy either Sirius Radio XM (SIRI -0.2%) or Liberty Media (LMCA +0.2%) to benefit from the juiced-up returns SIRI will soon be churning out. While a Sirius buy is a pure-play approach, nibbling on Liberty shares is a way to diversify the investment across other media assets.
Shares of Liberty Media (LMCA) are on watch after Sirius XM Radio slices off a nice chunk of cash for investors with a special dividend and launches a new stock repurchase program. With 49.8% of SIRI in its back pocket, Liberty is just waiting for a FCC approval before pulling the final trigger.
Liberty Media (LMCA +0.1%) plans to spin off Starz as planned and then allow the cable channel to entertain offers, according to a WSJ report. Some early analysis on the impact of the Netflix-Disney deal pointed to the potential of Liberty calling off the spinoff. Though shares of LMCA slipped after the Netflix announcement, the damage could have been worse if the company signed off on the Disney content extension at a price reported to be 50% higher than what Starz is paying right now.
Barron's takes a liking to Liberty Media (LMCA), citing the upcoming Starz spinoff which could unlock sum-of-parts value, and its huge stake in Sirius XM (SIRI). Analysts think SIRI could reach $3.50 within a year (+28%), and say LMCA has 20% upside.