Starz Up Strongly in Market Debut
Stock rises more than 10% in early trading
By Mike Farrell, Multichannel News -- Broadcasting & Cable, 1/14/2013 5:35:02 PM
Starz' debut marks the end of a nearly five-month journey to separate the premium channel's assets from parent Liberty Media Corp., and transform the programmer's shares into an asset-backed security.
Starz shares opened at $14.15 each, rising as high as $15.75 each (up 11.3% or $1.60 each) in early trading Monday. The stock closed at $15.59 each on Jan. 14, up 9.8% or $1.39 per share.
Liberty said it completed the distribution of Starz shares on Friday Jan. 11 after the market close - Liberty Media shareholders received one share of Starz common stock for every Liberty share they held.
Click here to read the full story at Multichannel News.
No related content found.
No Top Articles
Digital Rapids provides market-leading software and hardware solutions, technology and expertise for transforming live and on-demand video to reach wider audiences on the latest viewing platforms more efficiently, more effectively and more profitably. Empowering applications from..more