Earnings: Liberty Media Strong
By Garth Johnston -- Broadcasting & Cable, 2/28/2007 11:47:00 AM
Liberty Media posted strong earnings for two of its tracking stocks, Liberty Interactive Group and Liberty Capital Group.
Revenue at Liberty Interactive, which includes QVC, rose 11%, and operating cash flow increased 21 %. QVC revenue rose 7% to $2.24 billion in the fourth quarter.
Liberty Capital, which includes the cable movie channel Starz, saw a growth in revenue of 12%. Starz revenue increased 4% to $257 million, up from $247 million in the fourth quarter of 2005.The company’s strong 2006 results come from various deals including its exchange of a stake in News Corp. for 38.5% of DirecTV, its selling off of its 50% in Court TV, and its repurchasing of $954 million of Liberty Interactive Stock.The company also announced a $1 billion self tender of Liberty Capital shares.
