SiriusXM Parent Liberty Media Sees Earnings Rise

John Malone in 2016
Drew Angerer/Getty Images

John Malone, businessman and former chief executive of Tele-Communications Inc., attends the annual Allen & Company Sun Valley Conference, July 7, 2016 in Sun Valley, Idaho. 

Liberty Media on Tuesday reported improved fourth-quarter financials.

Liberty Media, controlled by billionaire mogul John Malone, houses such assets as satellite radio company SiriusXM Radio, Charter Communications and more.

Fourth-quarter operating income jumped 25.8 percent to $273 million from $217 million as SiriusXM recorded a 17.2 percent gain, while losses for the Liberty Braves Group and Formula One narrowed.

Adjusted operating income before depreciation and amortization, another profitability metric analysts use to gauge the company's performance, rose 21.4 percent. Quarterly revenue jumped 9.1 percent to $1.32 billion.

The company last year created three tracking stocks. They are for the Liberty Braves Group, which indirectly owns the Atlanta Braves and certain related assets and liabilities; the Liberty Sirius Group, focused on the stake in SiriusXM; and the Liberty Media Group, which has since been renamed Formula One Group.

SiriusXM reported its stand-alone year-end results on Feb. 2.

This article was originally published by The Hollywood Reporter.


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