John Malone does it again. In the first day of trading after its spinoff of Liberty Media(LMCA,LMCB,LMCAD,LMCBD), Starz(STRZA,STRZB) jumped 9.79% to close at $15.59. Despite a $1.1 billion debt burden, the Starz and Encore premium movie channels are thought to be a coveted prize for a larger media company. Starz is also investing heavily in original content such… Read More »
Friday, after the market closed, Liberty Media Corporation(LMCAD,LMCBD,LMCAV,LMCBV,LMCA,LMCB) announced that it had completed its spinoff from Starz(STRZA, STRZB), formerly the Liberty Media Corporation. For a cogent explanation of the alphabet soup, see our article from last week. As part of the transaction, Starz drew down its credit line and distributed $1.8 billion in cash to Liberty Prior to… Read More »
One thing about John Malone- if there’s a way to make a deal more complicated, he’ll find it. We’ve written in the past about the upcoming Starz spin, but now it’s finally here, and the company has issued a press release detailing what will happen. For those arriving late, Liberty Media Corporation(LMCA,LMCB) will be spinning itself off. That… Read More »