February 27, 2013 / 9:56 PM / 5 years ago

UPDATE 1-Starz revenue falls less than expected as subscriptions rise

* 4th-qtr revenue $422 mln vs est $417.7 mln

* Quarterly adjusted OIBDA $101.4 million

* Subscriptions up 8 pct for Starz, 5 pct for Encore

Feb 27 (Reuters) - Pay-TV network Starz, which was spun off from Liberty Media Corp in January, beat analysts’ fourth-quarter estimates as revenue fell less than expected.

Quarterly revenue fell 2 percent to $422 million, but were above the $417.7 million analysts had expected according to Thomson Reuters I/B/E/S.

Starz runs eponymous movie and TV channels, as well as the Encore movie channel. It competes with Time Warner Inc’s HBO and CBS Corp’s Showtime.

Subscriptions for the Starz network rose 8 percent to 21.2 million and Encore channel subscriptions were up 5 percent at 34.8 million.

The company said adjusted operating income before depreciation and amortization rose 8 percent to $101.4 million.

Earlier this month, Starz extended an agreement with Sony Pictures that gave Starz exclusive rights to Sony movies through 2021.

Sony Pictures’ “The Amazing Spider-Man”, “21 Jump Street”, “Zero Dark Thirty”, “Men In Black 3” and “Resident Evil: Retribution” will be shown on Starz channels in 2013.

Starz shares were up slightly at $18.79 in after-market trade after closing at $18.70 on the Nasdaq on Wednesday.

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