Category Archives: Liberty

Liberty Global announced that it is intending to launch a voluntary and conditional cash offer, for all of the Telenet Group Holding NV shares and other securities giving access to voting rights that it does not already own or that are not held by Telenet. Liberty Global has been the controlling shareholder in Telenet since February 2007 and currently owns, through its wholly owned subsidiary, Binan Investments B.V., 50.4% of Telenets outstanding issued share capital. The Intended Offer will be based on a price of EUR35.00 per ordinary share. A price of EUR35.00 per ordinary share represents a premium of approximately 14% over the adjusted average volume weighted closing price of approximately EUR30.67 for the one-month period to Sept. 18, 2012 pro forma for the EUR3.25 capital reduction paid by Telenet on Aug. 31, 2012. The Intended Offer values all the outstanding voting securities of Telenet not currently owned by Liberty Global or held by Telenet at approximately EUR1.96B. No further regulatory approvals are required.

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Liberty Global launches voluntary, conditional cash offer for Telenet Group

ENGLEWOOD, Colo.--(BUSINESS WIRE)--

Liberty Global, Inc. (Liberty Global or the Company) (NASDAQ: LBTYA, LBTYB and LBTYK) today announced that it is intending to launch a voluntary and conditional cash offer (the Intended Offer), for all of the Telenet Group Holding NV (Telenet) (Euronext Brussels: TNET) shares and other securities giving access to voting rights that it does not already own or that are not held by Telenet. Liberty Global has been the controlling shareholder in Telenet since February 2007 and currently owns, through its wholly owned subsidiary, Binan Investments B.V., 50.4% of Telenets outstanding issued share capital (excluding treasury shares). The Intended Offer will be based on a price of 35.00 per ordinary share.

A price of 35.00 per ordinary share represents a premium of approximately 14% over the adjusted average volume weighted closing price of approximately 30.67 for the one-month period to September 18, 2012 pro forma for the 3.25 capital reduction paid by Telenet on August 31, 2012.

Liberty Globals Intended Offer will be subject to customary and normal conditions including (i) Liberty Global and its affiliates having acquired or holding, upon completion of the Intended Offer, at least 95% of the outstanding Telenet shares and voting rights and (ii) no material adverse change having occurred with respect to the financial situation or prospects of Telenet and in the financial markets in general. The Intended Offer will possibly be followed by a delisting of Telenet and a squeeze-out offer.

Liberty Global has advised Telenets board members of its intentions. In respect of Telenets intended buyback offer as announced in Telenets press release dated August 13, 2012, Liberty Global refers to the press release of Telenet released on September 20, 2012 (Brussels time).

This announcement is not a formal binding tender offer under the Royal Decree of the Belgian Law dated April 1, 2007 on public take-over bids. Whether or not the Intended Offer will eventually be made as a formal binding offer depends on a number of conditions, including the outcome of the independent valuation commissioned by the independent board members in comparison to the proposed price per share, overall financial market conditions, any material business or financial developments at Telenet and Liberty Globals ability to raise satisfactory financing.

If Liberty Global elects to proceed with a formal and binding offer, Liberty Global will file the required documentation, including the bid prospectus, with the Belgian Financial Services and Markets Authority as soon as possible. In the event that Liberty Global decides not to proceed with a formal offer, Liberty Global will immediately issue a further public announcement to that effect. In case of a formal and binding offer, Liberty Global plans to finance it by using available cash on its balance sheet and incremental borrowings.

The Intended Offer values all the outstanding voting securities of Telenet not currently owned by Liberty Global or held by Telenet at approximately 1.96 billion. No further regulatory approvals are required.

Mike Fries, President and Chief Executive Officer of Liberty Global, commented: We believe this is the right time for Telenet to become a wholly-owned part of Liberty Globals pan-European platform in its next stage of development, particularly in light of the competitive and regulatory outlook in Belgium. We are proud of the success Telenet has achieved over the years and of the many innovations it has brought to Belgian consumers.

As a long-term, industrial player in European cable, this shows our commitment to the Belgian market. Telenet is one of our most successful operations and a core part of our growing pan-European platform. We remain very supportive of the existing management team and employees at Telenet, all of whom have contributed to the companys success. We will continue our focus on investments and product innovation in Belgium.

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Liberty Global Intends to Launch a Voluntary and Conditional Cash Offer for the Shares of Telenet Group Holding NV

Liberty Global Inc. (LBTYA) offered to buy the remaining 49.6 percent of Belgium's Telenet Group Holding NV (TNET) for 1.96 billion euros ($2.5 billion), allowing the John Malone- led cable company to forge closer ties between European units.

Telenet investors will get 35 euros a share in cash, Liberty Global, based in Englewood, Colorado, said today in a statement. The offer is 13 percent higher than yesterday's closing price for Mechelen-based Telenet's shares. Telenet jumped to 34.97 euros at 12:46 p.m. Brussels time.

Liberty Global Chairman Malone and Chief Executive Officer Michael Fries are expanding in Europe, where demand for TV, Internet and phone services delivered over cable is increasing. Liberty Global has controlled Telenet since 2007, and it bought German cable provider Kabel Baden-Wuerttemberg for 3.16 billion euros last year and its larger competitor, Unitymedia, for 3.5 billion euros in 2009.

The deal will let Malone "push for stronger collaboration and synergies with his other European operations," said Marc Hesselink, an analyst with ABN Amro Bank NV in Amsterdam. "The premium he paid on the Telenet share is also not excessive, which makes it a good deal."

The offer values Telenet at 5.6 times its earnings before interest, taxes, depreciation and amortization. That compares with a median multiple of 5.3 for 114 telecommunications deals in Western Europe in the past year.

Telenet shares had advanced 5.5 percent this year through yesterday. Liberty Global, which owns a 50.4 percent stake in Telenet, fell 0.2 percent to $57.28 yesterday in New York and has climbed 40 percent this year. Ziggo NV (ZIGGO), a Dutch cable company, rose as much as 5.4 percent in Amsterdam.

Europe is Liberty Global's biggest market, and the company also has assets in Latin America. Its European customers total 18.4 million. With Telenet's 2.15 million cable-TV users, Belgium is Liberty Global's second-biggest market after Germany.

Demand for cable services in Europe is increasing, with customers migrating to digital connections from analogue. Digital cable penetration among German households is projected to rise to 23.7 percent in 2016 from 11.6 percent in 2011, according to researcher IHS Screen Digest. Total TV, Internet and phone subscriptions with cable companies in the country are forecast to rise by 24 percent to 32 million in 2016.

Telenet today raised its sales and profit forecasts for 2012, helped by growth in the number of subscribers that use multiple services such as digital TV and mobile-phone connections. Sales will probably rise 7 percent to 8 percent, compared with a prior range of 5 percent to 6 percent, and Ebitda growth should match that rate, it said.

The company said it will continue preparing a plan to buy back an 18.2 percent stake at a price of 31.75 euros a share. That price was revised down from an initially announced 35 euros due to a decrease in the company's capital. The buyback will take place if Liberty Global doesn't complete the offer or doesn't meet its conditions, Telenet said.

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Liberty Global to Buy Rest of Telenet for $2.5 Billion

TUCSON, Ariz.--(BUSINESS WIRE)--

Liberty Star Uranium & Metals Corp. (Liberty Star or the Company)(LBSR: OTCQB) has received word that application for Arizona State Mineral Exploration Permits (MEPs) within the Tombstone Super Project (TSP) have been accepted by the Arizona Department of Mines & Mineral Resources (ADMMR). Additionally, the Company has submitted Drill Permit applications to the ADMMR (July 2012) and has received comments back from the ADMMR allowing the Company to proceed with state mandated archeological reconnaissance over the proposed drill area in the Hay Mountain portion of the TSP.

Eight new state of Arizona MEPs (the state equivalent of federal mining claims) claims covering about 5.3 square miles comprise the new portion of MEPs adjacent to the current Hay Mountain land position area. These new MEPs are within the proposed ZTEM survey zone announced last month (NR 138).

James A. Briscoe James A. Briscoe, Professional Geologist, AZ CA CEO/Chief Geologist Liberty Star Uranium & Metals Corp.

About the Tombstone Super Project (TSP):

The TSP initially consisted of 33 unpatented federal lode mining claims over a projected covered porphyry copper mineral center in Cochise County, Ariz. In September 2011, more Arizona State Prospecting Permits (MEPs the AZ state equivalent of mining claims) covering approximately eight square miles were added after Liberty Stars geochemical survey discovered a large multimetal anomaly over an interpreted large covered porphyry copper mineral center within the larger TSP area. In 2011, SRK Consulting prepared three NI 43-101 compliant technical reports over Liberty Stars holdings. Each report recommended further exploration on the area. An extensive geochemical survey sample campaign with samples assayed for 64 elements revealed the presence of copper, gold, silver, lead, moly, zinc and several rare earth elements. Mining throughout the region began in the late 19th century and led to the rise of legendary boomtown Tombstone, Ariz. Many of the old mining sites, and what is now Liberty Stars previously unprospected land, reside within or adjacent to a large volcanic and intrusive geologic feature known as a caldera. These caldera structures are present throughout southern Arizona, making the region one of the richest porphyry copper areas on the planet. Visit the LBSR web site: http://www.libertystaruranium.com/

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Copper, Gold Explorer Liberty Star Acquires More AZ State Mineral Exploration Permits on Tombstone Super Project ...

Referenced Stocks: BKS, LMCA, LYV, SIRI

Liberty Media Corp. ( LMCA ) reported strong financial results for the second quarter of 2012 outpacing the Zacks Consensus Estimates. We believe the company's recent decision to spin-off Starz LLC segment will enable to it to raise its stake in SIRIUS XM Radio Inc. ( SIRI ), Barnes & Noble Inc. ( BKS ), and Live Nation Entertainment Inc. ( LYV ). We believe SIRIUS XM will be the key player in the company's growth story based on rising auto industry sales.Liberty Media is currently trying hard to take full control of SIRIUS XM.

Liberty Media has filed a new application to the U.S. Federal Communications Commission, in which the company stated its intention to acquire more than 50% of SIRIUS XM, so that it can take full control of the Board of SIRIUS XM. Liberty Media withdrew its previous application with FCC to de facto control SIRIUS XM. Instead, the company is now willing to get a full control. Liberty Media at present has 49.5% stake in SIRIUS XM's total outstanding shares. With nearly 23 million subscribers in its kitty, SIRIUS XM, the largest satellite radio service provider, is expected to generate huge financial synergies to Liberty Media over the long haul.

In November 2011, the company invested in Barnes & Noble. Management is pursuing a systematic share buy-back program to boost its shareholders' wealth. Meanwhile, the stock price has soared more than 77% in the last year and is currently trading at significant high multiples compared with S&P 500 and its peers with respect to several valuation metrics. We believe Liberty Media is currently fairly valued and maintain our Neutral recommendation.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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Liberty Media Still Neutral - Analyst Blog

By Richard Saintvilus - September 19, 2012 | Tickers: LMCA, SIRI | 0 Comments

Richard is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.

Satellite radio Sirius XM (NASDAQ: SIRI) is on a short list of the most polarizing stocks on the market, as it has developed somewhat of a love-hate relationship with investors and analysts. Remarkably, even from its supporters or doubters, it remains one of the most misunderstood companies on Wall Street.

As a longtime subscriber of the service, I can tell you that there is a considerable amount of value in what Sirius offers. However, as an investor, trying to find the value in the stock is a tricky proposition particularly now, as it is under attack from many angles by Liberty Media (NASDAQ: LMCA). But things have gotten a little bit nastier, and it is investors that stand to lose.

Since hitting an intra-day low of $1.80 on June 25, there has not been many stocks that have performed better than Sirius. If you factor in its recent high of $2.64, the stock has appreciated almost 50% over the past 3 months. Except now we know why: Liberty has been on a buying spree as it aimed to take control of the company.

That, along with what I would consider a significant amount of short covering, has propelled the stock to heights that it has not seen since it pre-merger days. But it now appears that Sirius is poised to give up these gains. And Liberty has every intention of facilitating the fall.

Liberty once said that it would not convert its preferred shares of Sirius to common stock. However, we learned recently that it in fact converted 50% of these shares. While I dont want to be nave and suggest that somehow, "Libertys hand was forced," it likely didnt anticipate that Sirius would be playing so hard to get, either. This has been a part of Libertys plan and a card that it was prepared to play at the right opportunity. In a recent SEC filing, the company said as a result of the conversion, its stake in the Sirius has risen to 49.5%, while also owning roughly 32% of common shares. So what does this all mean?

What it means is that any further delay in this dance between the two companies is nothing more than postponing the inevitable. Sirius is now at the mercy of Liberty and what it wants to do - its all just a matter of time. Whats more the impact of Libertys conversion has caused a considerable amount of confusion with Sirius financial metrics. One day we woke up to Sirius having a P/E of 4; then, upon the conversion, various sources listed the P/E at 32. Not that Sirius has ever traded on fundamentals, but to the extent that investors might consider such factors within their investment/trading decisions, it becomes pretty significant.

So how much is Sirius really worth? What is its market cap? How much does it now earn per share? Will this force analysts to revise or restate projections. It is hard to answer these important questions after Liberty has essentially flooded the market with 1 billion extra shares essentially causing massive dilution. While Liberty has recently helped many investors by buying shares of Sirius on the open market, it has now announced that its holiday shopping season is ending early and now its time to return unwanted gifs.

For many investors, the logic has always been, if Liberty wants Sirius so bad, then they are going to have to pay a premium for it. I can only ask, really? Im curious to see if investors now still feel that same way. Liberty is operating by its own set of rules and its own timetable. That Liberty is also an investor in Sirius does not mean that it cares about the stock appreciating in value more than the other benefits Sirius offers such as its $8 billion in NOLs as well as assets that Liberty is able to leverage for gains in other areas of its holdings.

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Liberty Launches Assault on Sirius XM Shareholders

HOUSTON, Sept. 19, 2012 (GLOBE NEWSWIRE) -- Liberty Energy Corp. (LBYE) ("Liberty" or "the Company") understands that Mexico is facing a growing shortage of natural gas as production expands at a tepid pace and demand continues to rise dramatically.

The Company understands that Petroleos Mexicanos (Pemex), Mexico's state-sponsored oil and gas monopoly, has begun cutting natural gas supplies to some of its largest customers by as much as 45 percent of their orders to cope with ballooning demand from households to steelmakers such as Ternium SA and ArcelorMittal.

Pemex has largely failed to tap into the country's abundant natural gas reserves, forcing it to quickly increase imports from the well-stocked U.S. in order to meet demand.

Sources confirm that the country's existing gas pipelines are operating around 95 percent, trying to cover the shortfall, but many businesses have been forced to work through outages that can last for hours at a time.

In response, two new gas pipelines are being rushed through planning that would connect central Mexico with Texas and Arizona, where plentiful gas supplies would welcome an outlet.

"The shortage of natural gas is affecting both companies and homeowners. We've heard that in some plants, gas supply has been reduced 40 percent to 45 percent of what was originally agreed. Liberty's decision to build an asset base in Texas, a stable economic and political arena, is set to bear fruit. We have noticed a rising demand for safe onshore projects around our operations sites. We are looking to fully develop our new leases as soon as possible and have plans to expand our acreage further in the not too distant future," commented Ian Spowart, CEO and President of Liberty Energy Corp. For more information on the activities of the Company, please see the Liberty Energy website http://www.energy-liberty.com/

ABOUT LIBERTY: Liberty Energy Corp. (LBYE) is an Independent Oil and Gas Exploration and Production Company dedicated to the sourcing and production of fuel supplies in the United States and Europe. Headquartered in Houston, Texas, the company has leases and royalties in both Texas and Bulgaria, covering several wells with extensive potential for future development. In Texas, Liberty owns twelve leases based around numerous geological pay zones. In North-West Bulgaria, Liberty has royalty rights to a 1,000,000+ acre natural gas property (the A-Lovech exploration block), an area of high quality, low-sulphur natural gas condensate. Through this combined international reach and domestic focus, Liberty Energy is committed to the development of US fuel reserves while seeking out further opportunities for the global energy markets.

Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Liberty Energy Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Liberty Energy Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Liberty Energy Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

ON BEHALF OF THE BOARD OF DIRECTORS,

Liberty Energy Corp Ian Spowart, Chief Executive Officer

Excerpt from:
Liberty Energy Considers the Effects of the Mexican Natural Gas Shortage

Liberty Media Corp. (LMCA) reported strong financial results for the second quarter of 2012 outpacing the Zacks Consensus Estimates. We believe the companys recent decision to spin-off Starz LLC segment will enable to it to raise its stake in SIRIUS XM Radio Inc. (SIRI), Barnes & Noble Inc. (BKS), and Live Nation Entertainment Inc. (LYV). We believe SIRIUS XM will be the key player in the companys growth story based on rising auto industry sales.Liberty Media is currently trying hard to take full control of SIRIUS XM.

Liberty Media has filed a new application to the U.S. Federal Communications Commission, in which the company stated its intention to acquire more than 50% of SIRIUS XM, so that it can take full control of the Board of SIRIUS XM. Liberty Media withdrew its previous application with FCC to de facto control SIRIUS XM. Instead, the company is now willing to get a full control. Liberty Media at present has 49.5% stake in SIRIUS XMs total outstanding shares. With nearly 23 million subscribers in its kitty, SIRIUS XM, the largest satellite radio service provider, is expected to generate huge financial synergies to Liberty Media over the long haul.

In November 2011, the company invested in Barnes & Noble. Management is pursuing a systematic share buy-back program to boost its shareholders wealth. Meanwhile, the stock price has soared more than 77% in the last year and is currently trading at significant high multiples compared with S&P 500 and its peers with respect to several valuation metrics. We believe Liberty Media is currently fairly valued and maintain our Neutral recommendation.

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Liberty Media Still Neutral

BOSTON, Sept. 18, 2012 /PRNewswire/ -- A new survey from Liberty Mutual Insurance and SADD (Students Against Destructive Decisions) finds an alarming percentage of teens report their parents make poor and risky decisions while driving. According to more than 1,700 teens surveyed countrywide, dangerous driving behaviors among parents, while their teen is in the car, range from texting or speeding to driving without a seatbelt and even under the influence of alcohol. Even more concerning, surveyed teens repeat their parents' poor driving habits in nearly equal amounts.

To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/teens-mirror-parents-distracted-driving-habits-in-new-liberty-mutual-insurancesadd-survey-169851596.html

The survey found teens observe their parents exhibiting the following behavior at least occasionally: 91 percent talk on a cell phone while driving, 88 percent speed and 59 percent text message while driving. With teens reporting nearly half (47 percent) of parents have driven at least occasionally without a seatbelt, 20 percent under the influence of alcohol, and 7 percent under the influence of marijuana, the survey reveals parents may not be the best role models for their teens behind the wheel. This, despite teens reporting in past Liberty Mutual/SADD research that parents are their primary driving influence.

Given the high percentage of teens who report their parents engage in unsafe driving behavior while their teen is in the car, it follows that two-thirds (66 percent) of teen drivers report their parents live by different rules than the ones they expect of their teens. With so many parents not abiding by their own safe-driving rules of the road, a "do as I say, not as I do" policy may be undermining the parent/teen driving relationship.

"The best teacher for a teen driver is a good parental role model," said Stephen Wallace, senior advisor for policy, research and education at SADD. "Parents and teens should have an active and ongoing dialogue about safe driving behavior and take the conversation one step further by signing a Parent/Teen Contract. But parents have to demonstrate good driving behavior from the onset so new drivers understand that safe driving rules apply to everyone equally."

Teen Driving Behavior

The distracted driving behavior reported by teens mirrors the poor driving habits of their parents in nearly equal amounts. Among the more than 1,700 teens surveyed, a high percentage report making poor decisions while driving. In fact, 90 percent of teens report talking on a cell phone while driving and 94 percent of teens speed (at least occasionally), with nearly half (47 percent) of teens speeding often or very often. Nearly 80 percent of teens report sending text messages while driving, 16 percent have driven after using marijuana, 15 percent have driven under the influence of alcohol and 33 percent report driving without a seatbelt.

The link between the observed and self-reported driving behaviors reveals parents are modeling destructive driving behavior, and their teens follow suit. The following is a side-by-side comparison of the survey data reported when teens were asked how frequently they engage, and witness their parents engaging, in the following behavior:

Liberty Mutual Insurance/SADD 2012 Teen Driving Survey

Parental Driving Behavior

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Teens Mirror Parents' Distracted Driving Habits In New Liberty Mutual Insurance/SADD Survey

WAITSFIELD, Vt., Sept. 18, 2012 /PRNewswire/ -- The new HappyLightLiberty from Verilux, the Healthy Lighting Company, means good news for everyone who has experienced decreased mood and energy levels, increased appetite, sleeplessness and other symptoms of the Winter Blues. Up to six times smaller than other energy lamps of comparable light output, Liberty is ideal for easy and convenient use at home, work or dorm room. It delivers a true 10,000 LUX of light intensity, so users can be farther from the lamp and move around more freely during operation while still receiving a useful amount of light.

(Photo: http://photos.prnewswire.com/prnh/20120918/CG75801-a)

(Logo: http://photos.prnewswire.com/prnh/20120918/CG75801LOGO-b)

With the great light comes a great value: At $99.95, Liberty is half the price of other light therapy devices of similar output and quality.

"We've heard from people across the country who love the energizing effects of HappyLights but want more freedom to move during their light therapy sessions without compromising results," said Verilux CEO Ryan Douglas. "Liberty's flexibility makes it easy to use in a way that is best and most satisfying for our customers. It's ideal for home-based employees, office workers who get limited exposure to outdoor light, shift workers and college students, as well as people who want to personalize their light therapy sessions to better meet their needs and goals."

HappyLight Liberty provides Natural Spectrum daylight exactly how, where and when it's needed to help the body recalibrate and stabilize, and improve focus and productivity. The bright light is a drug- and stimulant-free pick-me-up that increases energy for exercise and helps curb carb cravings. Like all of Verilux's light therapy products, HappyLight Liberty does not emit UV rays.

"Our engineers worked for more than two years to develop a light therapy lamp that could deliver the required output to sustain the light's natural effects while significantly minimizing the size and cost of the lamp," said Douglas.

Customize Your Light. HappyLight Liberty is the first energy lamp on the market with interchangeable Optix lenses for light personalization. One is a white high-energy lens that allows more light to shine, while the other, a tinted comfort lens, produces a softer light ideal for people with light sensitivities. The lenses change easily with a few simple steps and no tools.

HappyLight Liberty has a dual-intensity brightness control. Mixing and matching the lenses with the light intensity offers a range of options for users to control their individual programs.

"After 20 years of developing light therapy products, we've learned that no two people view and react to light in the same way. By including features like the two lenses and the intensity controls, we made sure Liberty offered the flexibility to let each user customize a program to meet his or her individual needs," Douglas continued. "For even more convenience, it offers a user-friendly tilt feature as well as a wall-mount option."

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Verilux Introduces HappyLight Liberty