Nov. 5, 2014, 12:49 PM
May 19, 2014, 7:43 AM| Comment!
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.
Mar. 14, 2014, 9:20 AM
Jan. 27, 2014, 5:40 PM
Jan. 6, 2014, 8:39 AM
- Shares of Sirius XM Radio (SIRI) race 7.8% higher to $3.85 in premarket trading following an offer late Friday from Liberty Media (LMCA) to take over the company in a deal which values the company at $3.68 per share.
- In a conference call with analysts, execs said if the deal is completed it would allow Liberty to start buying back shares at an increased pace.
Jan. 3, 2014, 6:24 PM
- After coming off a halt, Sirius XM (SIRI) is trading at $3.75 after hours in the wake of Liberty Media's (LMCA) offer to assume full ownership of the satellite radio owner.
- That represents a 5% gain from Sirius' closing price of $3.57, and is 1.9% above the $3.68/share buyout price implied by Liberty's all-stock offer. Some Sirius shareholders might be betting on a better offer arriving.
- Liberty shares are up 0.5% AH.
Jan. 3, 2014, 4:51 PM
- Liberty Media (LMCA), which already owns a majority stake in Sirius XM (SIRI), is proposing to make Sirius a 100%-owned subsidiary through an all-stock deal. (PR)
- Liberty proposes to have each Sirius converted into a 0.076 new Liberty Series C shares, and then distribute, on a 2:1 basis, Series C shares to all holders of Liberty's Series A and B shares.
- The exchange ratio values Sirius at $3.68/share based on Liberty's Friday close; that's an $0.11, or 3%, premium to Sirius' closing price of $3.57.
- Sirius' public shareholders would own 39% of the new company, which (based on current prices) stands to have a market cap of $27B.
- Sirius shares are halted. CC at 5PM ET.
Oct. 10, 2013, 3:25 PM
- Media stocks outperform the broad market with comments from Liberty Media's (LMCA +2.5%) John Malone on the monetization possibilities in the industry not hurting the festive mood one little bit.
- If Malone is to be believed, new forms of content distribution will lead to riches across the sector.
- Advancers: Time Warner Cable (TWC) +5.6%, Charter Communications (CHTR) +3.9%, CenturyLink (CTL) +3.3%, CBS (CBS) +3.9%, Netflix (NFLX) +5.5%.
- Liberty Media Analyst Day webcast
- Related ETFS: PBS
Jun. 27, 2013, 1:44 PM
Jun. 10, 2013, 3:02 PM
May 15, 2013, 5:53 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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