Feb 27 Liberty Media Corp, the media
holding company controlled by John Malone, said on Wednesday its
quarterly revenue fell by more than half in the fourth quarter.
Liberty, which owns a stake in several companies, said in a
statement the decrease in revenue was related to a one-time
recognition of deferred revenue at one of its businesses, called
TruePosition, a year ago. TruePosition is a location technology
company that Liberty owns.
Liberty has been tweaking its portfolio in recent months. In
January, it became the majority owner of Sirius XM after
regulators approved its takeover. Liberty also spun off the
premium TV channel Starz in January and has increased
its stake in concert promoter Live Nation to about 27 percent.
Liberty Media Chief Executive Greg Maffei said in a
statement that it was pleased in the growth of ticket sales at
Live Nation in 2013 as well as the publisher's Pearson's
investment in Nook Media.
Liberty's revenue fell 52 percent to $467 million, compared
to $973 million a year ago.
The company said its operating income was $25 million,
compared to $293 million a year ago.
Liberty owns stakes in a variety of businesses, including
Sirius XM, Barnes and Noble Inc, Concert
promoter Live Nation Entertainment Inc and the major
league baseball team, the Atlanta Braves.
Shares were flat at $105.55 per share after the market