Liberty Media Corporation announced yesterday that Mike George, President and CEO of QVC, Inc., will present at the 2010 Barclays Capital Retail and Restaurants Conference, on Wednesday, April 28, 2010 at 10:15 a.m. Eastern Time at the Crowne Plaza Times Square in New York City. Press release contains details about viewing the live webcast of his remarks. Liberty Media Press Release Apr. 21, 2010
Aug 072009
Second-quarter revenue at QVC — one of Liberty’s three principal business units — fell 4.4% to $1.68 billion, including a 2% drop in the U.S. That performance was an improvement over the last few quarters, when revenue had been down between 9% and 12%. The Wall Street Journal Aug. 6, 2009
Liberty Media Eyes Future Purchase of HSN
DRTV Retailer, Investors
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Feb 262009
Yesterday, Liberty CEO Gregg Maffei acknolwedged an interest in increasing his company’s current 30% ownership stake in HSN at some point in the future, saying, “…we do believe we are the natural owner at some point of that company [HSN]. We’re the one with the most synergies.” Multichannel News Feb. 25, 2009
Liberty Media Interactive’s 4Q Revenue Drops on Weak QVC Sales
DRTV Retailer, Investors
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Feb 252009
“Driven by weak sales at its home-shopping channel QVC, Liberty Media Interactive (NSDQ: LINTA) reported a 4 percent drop in revenues to $2.4 billion, while Interactive’s operating-income-before-depreciation-and-amortization (OIBDA) decreased 4 percent to $432 million.” A bright spot for QVC was double-digit growth in e-commerce revenue, which come as the company effects significant upgrades to its web presence. paidContent.org Liberty Media Press Release Feb. 25, 2009
Jan 282009
Memphis, Tennessee-based Wanderlich Securities has upgraded Liberty Media (Nasdaq: LINTA) from Hold to Buy, largely on the prospects of an ‘L-shaped’ recovery for QVC and the likelihood that the electronic retailer can eventually replicate its model in new markets like China. Wanderlich raised its price target for Liberty from $4.25 to $5.00. StreetInsider.com Jan. 28, 2009
Liberty’s John Malone Sees Few Big Media Deals in Offing
Carriage (Cable & Satellite TV)
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Sep 292008
Despite attractive potential purchase prices (courtesy of depressed stocks) Liberty Media Corp. Chairman John Malone sees few opportunities to make strategic purchases “in the communications and media space.” The credit crunch is one reason. But perhaps a bigger obstacle is that many of these companies are controlled by private equity groups and families, who are not obliged to sell even at a premium price. “Some of these things may prove cheap for an investor for taking a position, but not necessarily strategically are these assets available…” The renowned deal-maker suggested that the current down period in the business cycle is a good time to “mind your knitting.” Reuters Sept. 26, 2008
Whither DirecTV?
Carriage (Cable & Satellite TV)
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Sep 252008
Rupert Murdoch has suggested that News Corp. may have erred in selling DirecTV to Liberty Media earlier this year, although he remains uncertain about the company’s long-term prospects in the competitive pay-TV market. Liberty Media may merge DirecTV with Liberty Entertainment, perhaps leveraging up to fund acquisitions (that is, if or when the credit markets again function). What is clear is that DirecTV is a cash cow — it produced $950 million in free cash last year — and takes in an average of $82 per month from customers, well ahead of the number two satellite provider, Dish Network. Still, the company faces competition from cable companies and telecoms and uncertainties about the impact of emerging technologies. Investor’s Business Daily Sept. 24, 2008
