ENGLEWOOD, Colo. (AP) Liberty Media Corp., one of the companies controlled by cable mogul John Malone, posted third-quarter net income on gains on its investments in other companies. <\/p>\n
The results also included subscription growth at the Starz and Encore cable channels, which Liberty Media plans to spin off this year. Starz subscriptions rose 9 percent to 20.8 million. Subscriptions at its Encore channels rose 5 percent to 34.3 million. Revenue from the division rose 3 percent to $400 million. <\/p>\n
Liberty Media also owns 49.2 percent of satellite radio broadcaster Sirius XM Radio Inc., and plans to take control of that company. <\/p>\n
It also invests in concert company Live Nation Entertainment Inc., bookseller Barnes & Noble Inc. and media companies Time Warner Inc. and Viacom Inc. It owns the Atlanta Braves baseball team. <\/p>\n
Englewood, Colo.-based Liberty Media reported overall net income of $1 billion, benefiting from earnings of $1.28 billion from its investments in other companies. Last year, Liberty Media lost $42 million, earning just $53 million from its investments. <\/p>\n
Liberty Media's total revenue rose 3 percent to $555 million from $540 million a year ago. <\/p>\n
Liberty Interactive Corp., which split off from Liberty Media in September 2011, said Tuesday that its revenue rose 3 percent to $2.2 billion. Its loss widened to $41 million from $19 million. Liberty Interactive owns the QVC shopping channel, some shopping websites and also invests in other companies. <\/p>\n
Liberty Media shares rose 17 cents to $112.13 in morning trading while Liberty Interactive shares rose a penny to $20.47. <\/p>\n<\/p>\n
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\nStarz owner Liberty Media posts 3Q profit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"