Fri, May 8, 10:47 AM
- Liberty Media's (LMCA -0.4%) Q1 earnings featured a 12% gain in net income based on a 7% increase in revenue due again primarily to Sirius XM earnings -- Liberty holds 57% of Sirius XM with a stake that is 90% of Liberty's market cap -- though the company added that it also sold its position in Barnes & Noble for $27M, and sold another 1.3M Viacom shares for $86M.
- The company bought back 1.9M shares of its LMCK class at an average price of $38.28, for a total cost of $74M.
- Cash and liquid investments stood at $1.25B, up from Q4's $880M, chiefly due to cash from operations at Sirius XM. Total debt was $6.47B, primarily $5.15B in Sirius XM senior notes along with $1B in Liberty cash convertible notes.
- Conference call at 11:30 a.m. ET.
- Press Release
Fri, May 8, 8:29 AM
Wed, Feb. 25, 7:44 PM
- In Liberty Media's (NASDAQ:LMCA) Q4 earnings call, CEO Greg Maffei confirmed there's no plans to sell the Atlanta Braves -- despite longtime speculation that the company might unload the team after some five-year tax advantages expired a few years ago.
- The team's value is estimated at $730M; Liberty paid some $400M to acquire them in 2007.
- Liberty swapped Time Warner stock to acquire the Braves, and so realized a $300M tax savings -- a basis change that Maffei admitted would make selling the club "painful" due to taxable gains.
- Liberty Media debt decreased overall, offset somewhat by borrowings connected with plans for a new Cobb County stadium for the team.
Wed, Feb. 25, 5:16 PM
Wed, Feb. 25, 5:05 PM
- In Q4 results, Liberty Media (NASDAQ:LMCA) pointed to Sirius XM's (NASDAQ:SIRI) earnings -- Liberty's stake in Sirius XM now stands at 57%, and the SIRI stake represents over 90% of Liberty's market cap -- as well as completing its spinoff of Liberty Broadband in November.
- Net income on a GAAP basis was $143.1M vs. the prior $65.2M. Adjusted EBITDA was $381.3M, beating an expected $377M and up from the prior year's $325.6M.
- The company rebought 489K shares of LMCK class from Nov. 1 through Jan. 31, at a cost of $17M.
- Adjusted OIBDA for Q4 rose to $359M, up from the prior year's $319M. Removing depreciation and amortization, operating income rose to $206M from the prior year's $189M.
- Cash on a GAAP basis stood at $681M at year's end. Debt, primarily in Sirius XM senior notes, was at $5.85B.
- Free cash flow was $330.7M compared with the prior year's $303.2M.
- Press release
Wed, Jan. 28, 6:05 PM
Aug. 5, 2014, 7:58 AM
Feb. 28, 2014, 7:44 AM
Nov. 5, 2013, 9:08 AM
May 8, 2013, 12:05 AM
May 7, 2013, 5:30 PM
Apr. 30, 2013, 7:34 AMMore on Sirius XM Radio (SIRI): The company says its total paid subscriber base increased 9% Y/Y to reach 24.4M as the resurgence of the U.S. automobile industry helps bring in first-time subscribers. Subscriber acquisition costs per gross addition declined during the period. At the end of the quarter, free cash flow stood at $142M. Guidance for 2013 is for total net subscriber adds of 1.4M and revenue of over $3.7B. SIRI +1.0% premarket. (PR) | 5 Comments
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