UPDATE 2-Liberty Media revenue up as Starz subscribers rise
Nov 6 (Reuters) - Liberty Media Corp reported a 3 percent increase in quarterly revenue, helped by a rise in subscribers at flagship networks Starz and Encore.
Starz has been looking to increase subscriptions and compete with the likes of Time Warner Inc's HBO and AMC Networks Inc's AMC by offering more original programming such as "Spartacus: Blood and Sand" and "Boss."
"On programming, Spartacus: War of the Damned, Da Vinci's Demons, Magic City, and The White Queen give us a strong pipeline of exclusive Starz Originals that will kick off early next year," Starz LLC CEO Chris Albrecht said in a statement.
John Malone's Liberty Media is trying to gain full control of satellite radio broadcaster Sirius XM Radio Inc, in which it owns a nearly 50 percent stake.
Liberty filed a petition with U.S. regulators to replace the company's board and has argued that Sirius should be more aggressive about pursuing better technology and expanding internationally.
The fracas recently led to Sirius CEO Mel Karmazin saying he will step down in February.
Greg Maffei, President and CEO of Liberty Media, said Tuesday on a call with analysts he hoped to have the role of Sirius chief executive filled in six months or less.
The company has formed a search committee and is considering both internal and external candidates.
Third-quarter revenue rose to $555 million, while operating income was flat at $111 million.
Third-quarter revenue at Starz LLC rose 3 percent to $400 million. Subscription at the Starz network rose by 9 percent, while Encore subscriptions grew 5 percent.
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan |
- U.S. court rulings create new uncertainty over Obamacare
- Israel pounds Gaza despite international peace efforts |
- EU readies possible capital, tech sanctions on Russia
- Islamic State crushes and coerces on march towards Baghdad