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Liberty Media Corp (LMCA)

  • Tue, Sep. 22, 6:46 PM
    • Global satellite leader Intelsat (I -5.5%) is looking at selling key assets, the Financial Times reports, to pay off a pile of $14B in debt.
    • The firm has reportedly hired bankers for the sale that have approached Liberty Media (NASDAQ:LMCA) and French rival Eutelsat (OTCPK:ETCMY) to find interest.
    • Intelsat has an enterprise value of $15B vs. the $14B in debt. Among its key assets are its Americas media unit, which distributes programming like HBO series around the world, and its government/military unit.
    | Tue, Sep. 22, 6:46 PM | Comment!
  • Tue, Aug. 4, 11:41 AM
    • Liberty Media (NASDAQ:LMCA) is up 1.2% after Deutsche Bank upgraded it to Buy, pointing out catalysts in the long term and setting a price target of $46.
    • That's up from DB's previous target of $43. Shares closed yesterday at $38.04 and are currently trading at $38.50, implying 19.5% upside from here in that target.
    • Discount to NAV has widened to 17%, from a year-ago 9%, despite a more focused portfolio, Bryan Kraft notes: "We understand that absent a catalyst, investing capital into a narrowing discount story doesn't seem that compelling. However, we do see catalysts, although they appear to be 1-2 years away."
    • "Eventually, we think accretion in Liberty's Sirius ownership from Sirius' repurchase program will drive an elimination of the discount over time."
    • Meanwhile, Wunderlich raised its price target to $49. The firm maintains a Buy rating on Liberty Media.
    | Tue, Aug. 4, 11:41 AM | Comment!
  • Thu, Jul. 9, 5:29 PM
    • There's been little news coming out of secretive Sun Valley -- where media moguls gather at the Allen & Co. conference for "summer camp" and sometimes rearrange billions of dollars with game-changing M&A -- but John Malone today dropped more hints about content consolidation.
    • While media distribution companies have more obvious benefits from consolidation, Malone -- who has hands in Liberty Global (NASDAQ:LBTYA), Liberty Media (NASDAQ:LMCA), Liberty Interactive (NASDAQ:QVCA), Charter (NASDAQ:CHTR) and Starz (NASDAQ:STRZA) -- said economies can apply to content too.
    • "It's all about global scale," he told CNBC. "If you want to be a meaningful player in most of any of these media communication businesses, you have to think about it."
    • And while speculation boils about a tie-up between Malone's Starz (STRZA) and Lions Gate (NYSE:LGF) after the two swapped stock, Malone focused on the educational side: "I'm an engineer; what the hell do I know about content? Trying to understand where these ideas come from, how they get created and produced. The development of stories is really going to be important in this random-access world that Reed Hastings (NASDAQ:NFLX) is driving us into."
    • Malone said Netflix changed the game, and that his companies "missed the boat a little bit" on over-the-top offerings.
    • Today: NFLX +2.4%; LGF +0.9%; QVCA +0.3%; CHTR +0.2%.
    | Thu, Jul. 9, 5:29 PM | 8 Comments
  • Tue, Jun. 2, 6:46 PM
    • Mogul John Malone floated an interesting idea today: Forget Sprint and T-Mobile -- the wireless industry could get its third major alternative to Verizon and AT&T (NYSE:T) with the merger of Charter Communications (CHTR -1.6%) and Time Warner Cable (TWC -0.9%).
    • Malone was speaking at his various Liberty companies' annual meetings and noted that in 2012, the cable consortium SpectrumCo got an option to participate in a wireless MVNO service with Verizon (NYSE:VZ) after the wireless firm bought $3.9B in frequencies.
    • Charter wasn't in SpectrumCo then, but merger partners TWC and Bright House are. “The concept that Comcast, a greatly enlarged Charter and Cox could together offer a WiFi-optimized connectivity service with a default to a Verizon MVNO is an interesting concept," Malone said.
    • He thinks "there's very little dirty underwear" left to be found in a regulatory review of Charter-TWC after the past year's scrutiny.
    • Also of interest regarding Charter capex and the dividend: “Everybody's going to say, ‘Oh he’s spending too much capital,’ but I think the end result with be worth it ... To a large degree we’re betting on Tom Rutledge and his team to wake up a sleepy cable company that was treading water in all honesty for a while and trying to satisfy shareholder pressures with buybacks and dividends as opposed to putting the money into having a competitive service offering.”
    • Malone company shares today: LMCA -0.1%; LMCB flat; LMCK flat; LTRPA -0.9%; LTRPB +2.2%; QVCA +0.8%; LBRDA +0.1%; OTCQB:LBRDB flat; LBRDK -0.1%.
    | Tue, Jun. 2, 6:46 PM | 11 Comments
  • Nov. 5, 2014, 12:49 PM
    | Nov. 5, 2014, 12:49 PM | Comment!
  • May 19, 2014, 7:43 AM
    • Liberty Media (LMCA) announces it intends to acquire up to 3.7M shares of Live Nation Entertainment (LYV).
    • The company is going to snap up the shares through Live Nation's offering of $250M worth of convertible notes.
    • SEC Form 8-K
    • LYV -4.3% premarket
    | 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.
    | Apr. 3, 2014, 9:49 AM | Comment!
  • Mar. 14, 2014, 9:20 AM
    | Mar. 14, 2014, 9:20 AM | 3 Comments
  • Jan. 27, 2014, 5:40 PM
    | Jan. 27, 2014, 5:40 PM | 5 Comments
  • 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. 6, 2014, 8:39 AM | 8 Comments
  • 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, 6:24 PM | 37 Comments
  • 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.
    | Jan. 3, 2014, 4:51 PM | 93 Comments
  • 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
    | Oct. 10, 2013, 3:25 PM | 5 Comments
  • Jun. 27, 2013, 1:44 PM
    Cable stock frenzy: Shares of Time Warner Cable (TWC +7.8%) spike higher off of a Bloomberg headline indicating Liberty Media (LMCA +2.5%) is interesting in making a bid. Cablevision (CVC +7.8%) and Charter Communications (CHTR +5.9%) are also on the move.
    | Jun. 27, 2013, 1:44 PM | 2 Comments
  • Jun. 10, 2013, 3:02 PM
    Shares of Sirius XM Radio (SIRI, LMCA) turn lower, now down 2.3%, as more details on the iTunes radio are unveiled. The Apple service will be integrated into some new cars which could cut into subscriptions totals for Sirius.
    | Jun. 10, 2013, 3:02 PM | 7 Comments
  • May 15, 2013, 5:53 PM
    After-hours top gainers, as of 5:30 p.m.: CSCO +8.5%. TSLA +5.1%. LMCA +4.9%. ABX +3.7%. GOLD +3.7%.
    After-hours top losers: NQ -8.3%. CASH -4.9%. ACXM -3.9%. MBTF -3.3%. CTSH -3.2%.
    | May 15, 2013, 5:53 PM | Comment!
LMCA vs. ETF Alternatives
Company Description
Liberty Media Corporation through its subsidiaries owns interest in media, communication and entertainment businesses. The Company operates in North America.
Sector: Services
Country: United States