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
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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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