Liberty Media Corp., the media conglomerate controlled by John Malone, said Tuesday that operating income grew at its main businesses — the Starz pay TV channel and Liberty Capital which includes holdings in SiriusXM and Live Nation.
Liberty Interactive Corp., which owns the shopping network QVC, the invitation website Evite and travel site Expedia, split off from Liberty Media in September. The companies now operate as separate entities.
At Liberty Starz group, whose tracking stock follows the performance of the Starz pay TV channel, revenue rose 23 percent to $389 million in the latest quarter, up from $316 million a year ago. Operating income rose 16 percent to $101 million from $87 million.
The number of subscribers to Starz grew 9 percent to 19 million from 17.4 million. Encore pay TV channel subscribers rose 3 percent to 32.8 million from 32 million.
At Liberty Capital, the tracking stock that follows the performance of various holdings, such as the company's stake in concert promoter Live Nation Entertainment Inc. and Sirius XM Radio Inc., revenue fell 40 percent to $151 million. The unit had operating income of $14 million, up from an operating loss of $3 million a year earlier.
Liberty Media also bought a stake in Barnes & Noble during the quarter.
Liberty Starz's Class A shares, which trade under the ticker symbol LSTZA, fell $1.36, or 2 percent, to $66.21 in midday trading. Liberty Capital's Class A shares, which trade under the ticker symbol LCAPA, rose 66 cents to $76.57.