Liberty Media Has $1.35-Billion Loss
Liberty Media Corp., the cable television programming company run by John Malone, said it had a fourth-quarter loss, without giving a reason, according to a filing with U.S. Securities and Exchange Commission.
The loss was $1.35 billion on $473 million in sales. Liberty didn’t disclose the per-share loss or say whether year-earlier figures were comparable. A spokeswoman for Liberty, which has said it will release its earnings report late Friday, wasn’t available.
Liberty is awaiting an Internal Revenue Service ruling on its proposed tax-free separation from AT&T; Corp., the largest U.S. cable operator, which got Liberty in 1999 when it bought Malone’s Tele-Communications Inc. That will give the Englewood, Colo.-based company, run independently by Malone, more freedom to make investments without regulatory restrictions from its relationship with New York-based AT&T.;
Liberty shares fell 43 cents to $14.99 in Wednesday’s New York Stock Exchange trading. They have fallen 50% during the last year.
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