Liberty Media
The conglomerate controlled by John Malone reported a slight decline in fourth-quarter operating profit at its interactive division, which includes home shopping network QVC, while its Starz and media-investment divisions showed gains.
The company said it remains on track in efforts to overhaul its corporate structure, with a shareholder vote set for April on Liberty’s plan to split off tracking stocks of Liberty Starz and Liberty Capital, and convert Liberty Interactive shares into an asset- backed equity.
Liberty Interactive posted a fourth-quarter operating profit of $396 million, down slightly from year-earlier earnings of $397 million. Liberty Starz, which includes premium cable business Starz Entertainment, posted operating profit for the quarter of $62 million, up 26.5 percent, while Liberty Capital, a collection of investments in media companies such as Time Warner, swung to an operating profit of $24 million from a year-earlier loss of $97 million.
Shares of Liberty Interactive recently slid 4.3 percent to $16.10. Liberty Starz shares rose 2.6 percent to $70.67, while shares of Liberty Capital added 1.9 percent to $70.20. Dow Jones Newswires
