Liberty Media's QVC, Starz Groups Improve in 4Q
Fresh off a big win at the Oscars, Liberty Media (NASDAQ:LCAPA) booked on Monday higher revenues in its QVC and Starz businesses during the fourth-quarter, led by stronger e-commerce sales and improved across-the-board demand.
The operator of television stations said revenue in its QVC division, its largest operating business, increased 4% to $2.5 billion, led by sales of electronics, beauty and accessories, partially offset by a decline in jewelry. U.S. and international revenues grew 3% and 7%, respectively.
“QVC had a solid finish to the year, with particular strength in the established international markets,” Liberty CEO Greg Maffei said in a statement. “We are thrilled that our first movie as part of our home video distribution agreement with The Weinstein Company, The King’s Speech, won best picture last night at the Oscars.”
Liberty, which also owns the Atlanta Braves Major League Baseball franchise, said its e-commerce business climbed 27% during the quarter to $365 million.
Liberty has roughly $740 million remaining under its Liberty Interactive stock buyback program and $447 million remaining under its Liberty Starz stock repurchase program. The company made no repurchases during the period.
Starz revenue surged 33% to $405 million during the quarter, a reflection of increased rates and ancillary revenues related to original programming.