Category Archives: Liberty

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

Liberty Global, Inc. (Liberty Global, LGI, or the Company) (NASDAQ: LBTYA, LBTYB and LBTYK) today announced that its subsidiary, LGI Broadband Operations, Inc., has entered into an agreement, together with investment funds affiliated with Searchlight Capital Partners, L.P. (collectively, Searchlight), to acquire 100% of the parent of San Juan Cable, LLC, dba OneLink Communications (OneLink). OneLink will be merged with LGIs existing operation, Liberty Cablevision of Puerto Rico LLC (LCPR), to form the largest cable operator on the island. At March 31, 2012, OneLink passed 347,000 homes and served approximately 262,500 revenue generating units (RGUs).1

Mike Fries, President and Chief Executive Officer of Liberty Global stated, Consistent with our strategy of consolidating markets within our footprint, this transaction will make us the leading provider of cable services in Puerto Rico, passing approximately 70% of the cable homes on the island and adding substantial scale to our existing operation. As a leader in innovation in Puerto Rico, particularly in high-speed broadband and HD, we aim to bring that expertise to the OneLink business. On a combined basis, we will have approximately 700,000 homes passed and 480,000 RGUs, generating nearly $300 million in pro forma 2011 revenue. Finally, we are excited about working together with Searchlight and driving value to our respective stakeholders.

Eric Zinterhofer, co-founder of Searchlight said, "There is clear strategic logic to this transaction, which will enhance the combined company's ability to offer high-quality communications services throughout Puerto Rico. Liberty Global is a best-in-class operator, and we look forward to being their partner on this exciting transaction."

This transaction values OneLink at an enterprise value, before transaction costs, of approximately $585 million. This equates to a multiple of approximately 6.3 times our estimate of OneLinks 2012 operating cash flow, as customarily defined by Liberty Global and adjusted for the projected annual impact of synergies following full integration. Prior to the acquisition of OneLink, we will contribute our 100% interest in LCPR, and Searchlight will contribute cash to a newly formed entity. This new entity will in turn acquire OneLink for cash consideration. Upon completion of the transaction, the combined business will be 60%-owned by Liberty Global and 40%-owned by Searchlight.

The transaction is subject to customary closing conditions including regulatory approval, and is expected to close in the fourth quarter of 2012. Upon closing, Liberty Global will control the newly-formed company and will consolidate the business for financial reporting purposes.

Scotiabank acted as financial advisor to Liberty Global and Searchlight in this transaction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the anticipated timing of closing the transaction, our estimate of post-acquisition synergies, the impact of the transaction on our operations and financial performance, and other information and statements that are not historical fact. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include the receipt and timing of necessary regulatory approval, OneLinks ability to continue financial and operational growth at historic levels, the Companys ability to successfully operate and integrate the OneLink operation and realize estimated synergies, continued use by subscribers and potential subscribers of OneLinks services, the Companys ability to achieve expected operational efficiencies and economies of scale, as well as other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission including our most recently filed Forms 10-K and 10-Q. These forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About Liberty Global, Inc.

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Liberty Global and Searchlight to Acquire OneLink

Englewood, Colorado-based Liberty Media Corporation (LMCA) has won a legal petition, filed in 2003, against French entertainment group Vivendi Universal S.A. According to the verdict, the French media giant will have to pay $956 million in damages to Liberty Media Corp. in a breach of contract case. We believe that the receipt of the compensation payment will significantly boost Liberty Medias already impressive liquidity position.

Liberty Media Corp. claimed that the French media group had deceived it while buying the American media conglomerates stake in Barry Dillers USA Networks for $10.3 billion. According to the deal, Liberty Media received 32 million treasury shares of Vivendi in addition to another 5.2 million shares for its stake in a European cable joint venture with Vivendi. After the deal, Liberty Media accused that despite going through a liquidity crisis Vivendi have presented a well balanced picture of its financial condition before the deal, which led to an increase in its share value, thus making the share acquisition from the French company more expensive.

Liberty Media, which has its own interest in a wide range of media companies including Starz Media LLC, True Position Inc, Sirius XM (SIRI), also wants to claim prejudgment interest which could almost double the reward for them. However, Vivendi has protested vehemently against the verdict and denied any wrongdoing. It is believed that the reward money wont be final until other pending issues are settled.

These types of charges are not new for Vivendi; it had been found guilty of misleading shareholders 57 times from 2000 to 2002 about its financial status. We believe that Liberty may pursue its investment interest in Barnes and Noble Inc. (BKS).

Recommendation:

We are maintaining our long-term Neutral recommendation on Liberty Media Corporation. Currently Liberty Media Corporation has a Zacks #3 Rank, implying a short-term Hold rating on the stock.

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Liberty Media Beats Vivendi in Court

Photo by Nathan Gray

Janelle Hick, left, director of health care at Tri-County Technical College, talks with Hattie Rhone at a job fair and training expo at Pickens County Career and Technology Center.

Photo by Nathan Gray

Daniel Blake fills out an application during a job fair and training expo at the Pickens County Career and Technology Center.

Photo by Nathan Gray

Michelle Neeley, left, of Goodwill, talks with Cathy Lostraglio and Cheryl Drummond at the Pickens County Career and Technology Center during a job fair and training expo.

Photo by Nathan Gray

Susan Finley, right, of the Pickens County Adult Learning Center talks with former Liberty Denim employees about their GED at a job fair and training expo at the Pickens County Career and Technology Center.

LIBERTY For five years, Brandi Chambers worked as a weaver at Liberty Denim, but when the mill closed in December she turned her attention to earning her high school diploma. On Monday, she sat in a room at the Pickens County Career and Technology Center using a laptop to register for general education diploma classes.

Chambers, who is 24, was one of about 120 people who visited a career fair at the center Monday. They applied for positions at 26 companies in the Upstate such as Walmart, Hampton Inn and YH America, an automotive power steering and air conditioning manufacturer. Others inquired about federal unemployment benefits and furthering their training and education. Tri-County Technical College, Pickens Adult Education and the Liberty South Carolina Works Center sponsored the fair.

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Liberty career fair draws laid-off mill workers, others

The Atlanta Dream didnt panic when the Liberty made a run late in the first half to take a lead at the break. They just regrouped and took control of the game in the third quarter.

Angel McCoughtry scored 23 points and Sancho Lyttle added 19 to lead the Dream to a 74-64 victory Sunday.

We just cant let outside things get in our head, McCoughtry said when asked what the team discussed after giving up a 10-point lead and trailing by two at halftime. We were a little frustrated with some calls, a little frustrated with the way we were playing, and how they were making their run. Its called adversity, it happens. Its the game.

McCoughtry was 7 for 20 from the field and 8 for 10 on free throws in her return after missing two games due to a knee injury, helping the Dream (5-7) snap a two-game skid.

Lyttle scored nine points, Armintie Price had five and McCoughtry added five points and four rebounds as Atlanta outscored New York 25-10 in the third quarter to take a 13-point lead.

Its not because of me. Its a team effort and everybody coming together, regrouping after a loss, McCoughtry said. (Lyttle) hit a couple of 3s ... she has the highest 3-point percentage shooting on the team and shes a post player. Armintie got some great rebounds, got fouled. Lindsey (Harding) is coming back slowly.

Leilani Mitchell scored 16 points, Kara Braxton had 14 points and 13 rebounds, and Cappie Pondexter and DeMya Walker added 12 points each as the Liberty (4-9) lost for the fourth time in five games. New Yorks lone win during that stretch came at Atlanta last Tuesday in a game McCoughtry missed.

Pondexter fouled out of the game late in the fourth quarter as the Liberty were trying to make a surge. She finished 4 for 17 from the field with seven turnovers.

We couldnt make shots tonight, Pondexter said. They did a great job of adjusting. We were the last game they played and obviously they made a lot of adjustments. ... We just got to learn to be consistent. Its kind of up and down, its kind of hard for us to get it together.

The Liberty had 26 turnovers, which led to 31 points for the Dream. Atlanta had 16 turnovers, leading to nine points for New York.

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Liberty lose to Dream

By Bobby Fisher - June 25, 2012 | Tickers: CCO, LMCA, P, FENG, SIRI | 0 Comments

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

Sirius XM Radio (NASDAQ: SIRI)is fighting hard to keepLiberty Media (NASDAQ: LMCA)from taking it over. This drama has beenunfoldingover the last few months. Liberty Media is the biggest shareholder for Sirius, and it has been expressing the desire to take complete control of Sirius. Liberty Media made its intentions officially known when it declared that it would buy more stocks in the company. It even hopes to replace the board of directors with candidates that are sympathetic to Liberty Media and its aims. This is clearly an attempt by Liberty Media tostep upits efforts to gain majority control.

This is not the first move that Liberty Media has made to try andgaincontrol. Earlier this year, the company attempted to become the de facto controlling shareholder of the company, even though it only had a 40% stake at the time. The Federal Communications Commission denied this attempt though, as a company must have a 50% stake or more to take control. Liberty Media has risen to the challenge, increasing its stake as much as possible. With time, Liberty Media may end up seizing even more shares and eventually gaining control of the company.

A few years ago, Liberty Media came to the aid of Sirius by giving the struggling company an enormous loan. This was in exchange for shares in the company. The companies signed an agreement, and Liberty Media promised not to make any attempts to take control of the company for a period of three years. You will not be surprised to hear that those three years came to an end recently, allowing Liberty Media to pursue its own agenda.

In response, Sirius has alsofileda request with the Federal Communications Commission, asking it todenythe attempts of Liberty Media to gain control of the company for a second time. Sirius stated that Liberty Media has yet to put forward a coherent plan for how and when it will take it over. It claims that this shows the company is not firmly dedicated to the plan and that it needs to make its intentions clearer. At this point, we are still waiting to hear the Federal Communications Commission's final decision.

Sirius stock declined following Liberty Media's clear declaration of its intentions, and I would expect the decision from the Federal Communications Commission to have a similarly significant effect. Shareholders should pay close attention to this situation.

Despite the situation with Liberty Media, Sirius is still actively trying toexpandits reach. Sirius recently teamed up withPenske Automotive Group (PAG). The auto company will offer three free months of Sirius service to buyers of used cars with factory-installed receivers. This should work to the benefit of both companies and have positive effects on the stocks.

Phoenix New Media (NYSE: FENG)is a competitor that is on the rise. Compared to others, Phoenix is a fairly new player in the industry, and it is based in China. The most recent news for this companyinvolvesthe collaboration with the National Film Board of Canada and should bring good results to the company and the stock. As a result of this agreement, Chinese users will have access to films distributed by the National Film Board of Canada. The films will be accessible through the NFB ZONE on the Phoenix website. This is the first time that Canadian films will be digitally distributed in China, and it should have a positive impact on Phoenix stock.

CompetitorPandora (NYSE: P)is currently in the spotlight because shares in the stock havefallensignificantly. An analyst pointed out that Songza is a more frequently downloaded free app forApple (AAPL)users than Pandora, and this led to the drops in Pandora stock price. Songza is a new introduction to the market, and it seems that its competitors should watch out. Its success is concerning, so it is understandable that some investors lost confidence in Pandora. That being said, Pandora still maintains its status as a leading provider of free online music services. This should not lead to further significant drops in the stock price, therefore, but one does need to keep a close eye on Songza to see how this situation plays out.

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Liberty 'Interferences' Not Beneficial To Sirius At All

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

Liberty Media Corporation (Liberty) (Nasdaq: LMCA, LMCB) announced today that it received a favorable jury verdict in its case against Vivendi Universal S.A., et. al. which was tried in the United States District Court for the Southern District of New York. The jury awarded Liberty damages in the amount of 765 million in connection with a finding of breach of contract and fraud by the defendant. Liberty intends to seek pre-judgment interest on the jury award. Judgment, however, will not be entered until the Court rules on any post-trial briefing. Although Liberty expects the defendants to ask the Court to set aside the verdict during this process, Liberty is confident that the Court will deny that request and that the jurys decision will stand.

The dispute arose out of a commercial transaction between the parties to the action and the former USA Holdings, Inc. that occurred during 2002.

Liberty was represented by Baker Botts L.L.P. in the action. The defendants were represented by Weil Gotshal & Manges LLP and Cravath Swaine & Moore LLP.

About Liberty Media Corporation

Liberty Media (Nasdaq: LMCA, LMCB) owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries Atlanta National League Baseball Club, Inc. and TruePosition, Inc., its interests in Starz, LLC, SiriusXM, Live Nation Entertainment and Barnes & Noble, and minority equity investments in Time Warner Inc. and Viacom.

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Liberty Media Corporation Wins Jury Verdict in US District Court

After a major redesign in 2008, the Jeep Liberty pretty much stayed the course for 2009.

There were some changes to the suspension calibration and steering, but it was still powered by a 3.7-litre V-6 engine that developed 210 horsepower, and 235 lb-ft of torque. However, the six-speed manual transmission was dropped, and a four-speed automatic was the only choice. With 210 horsepower on tap, the 09 Liberty had decent grunt, but was outgunned by rivals such as the Toyota RAV4, which was good for 270 horses, and the Hyundai Santa Fe, which developed 242. These were both direct competitors, and, in a drag race, left the Liberty behind.

Video: Best new muscle cars on the road

Compared to these two rivals, the Liberty was also a bit on the crude side. The engine was less refined and it featured a surprisingly rough ride. Its offshore competitors also offered up a much more linear power delivery. Fuel economy was less than exemplary: 14.0 litres/100 km in town and 9.7 on the highway, which was inferior to its Asian rivals.

Two four-wheel-drive systems were offered with the 2009 Liberty: Command Trac II and Selec-Trac II. The first was an on-demand arrangement that allowed you to get into all-wheel-drive while in motion, and was accessed via a floor console-mounted roller switch. It was standard equipment. For serious stump-jumpers, the Selec-Trac full-time 4WD system delivered torque more efficiently to the driving wheels and monitored the vehicles progress to suit driving conditions.

Hill Start Assist, which prevents the vehicle from rolling backward when things get really hairy off-road, was also standard issue, as were four-wheel disc brakes with ABS, a traction control system, and an electronic vehicle stability program. You could also order an optional Hill Descent Control feature, which automatically slows the vehicle down while descending steep inclines. It may not have been the most powerful compact SUV out there, but the Liberty was, and is, one of the most stable and capable off-road vehicles in the compact SUV market. When the pavement turned to gravel and the gravel turned to nothing at all, the Liberty left its rivals in the mud.

The North Edition, which was offered in Canada only, also came with a front-passenger fold-flat seat, fog lamps, roof rails, a speed control system and a cargo compartment cover. Other standard equipment included air conditioning, one-touch drivers-side power window, remote keyless entry, 16-inch wheels and tires and a two-way rear tailgate.

No safety recalls to report from Transport Canada for the 09 Liberty, but the U.S. National Highway Traffic Safety Administration has one. It concerns an aftermarket lift kit manufactured by Rock Krawler. Some of the bolts used in the kit arent of sufficient strength and can fail, causing the vehicle to drop in ground clearance. Few of the kits are affected, however, and the manufacturer will replace the suspect bolts.

Four technical service bulletins are on file with NHTSA. Two involve emission sticker corrections, while the other two concern a possibly faulty transmission shifter and potential cold start problems. This latter issue is corrected by dealers replacing the fuel injection throttle body and air duct, while the former shouldnt affect 09 models, as it has to do with the manual transmission.

Consumer Reports is not a huge fan of the Liberty, giving is an average used-car prediction. Potential problem areas include paint and trim, body hardware and power equipment. However, it fares better than the 08 model in areas such as the climate control system, body squeaks and rattles and minor transmission issues. Some comments from owners: Built like a tank, Took it for an off-road ride and it overheated, If youre looking for 30 mpg [9.5 litres/100 km], dont buy one and If you want a car, get a CR-V.

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2009 Jeep Liberty: Left behind

NEWARK, N.J. (AP) -- The Atlanta Dream didn't panic when the New York Liberty made a run late in the first half to take a lead at the break. They just regrouped and took control of the game in the third quarter.

Angel McCoughtry scored 23 points and Sancho Lyttle added 19 to lead the Dream to a 74-64 victory Sunday.

"We just can't let outside things get in our head," McCoughtry said when asked what the team discussed after giving up a 10-point lead and trailing by two at halftime. "We were a little frustrated with some calls, a little frustrated with the way we were playing, and how they were making their run. It's called adversity, it happens. It's the game."

McCoughtry was 7-for-20 from the field and 8-for-10 on free throws in her return after missing two games due to a knee injury, helping the Dream (5-7) snap a two-game skid.

Lyttle scored nine points, Armintie Price had five and McCoughtry added five points and four rebounds as Atlanta outscored New York 25-10 in the third quarter to take a 13-point lead.

"It's not because of me. It's a team effort and everybody coming together, regrouping after a loss," McCoughtry said. "(Lyttle) hit a couple of 3s ... she has the highest 3-point percentage shooting on the team and she's a post player. Armintie got some great rebounds, got fouled. Lindsey (Harding) is coming back slowly."

Leilani Mitchell scored 16 points, Kara Braxton had 14 points and 13 rebounds, and Cappie Pondexter and DeMya Walker added 12 points each as the Liberty (4-9) lost for the fourth time in five games. New York's lone win during that stretch came at Atlanta last Tuesday in a game McCoughtry missed.

Pondexter fouled out of the game late in the fourth quarter as the Liberty were trying to make a surge. She finished 4 for 17 from the field with seven turnovers.

"We couldn't make shots tonight," Pondexter said. "They did a great job of adjusting. We were the last game they played and obviously they made a lot of adjustments. ... We just got to learn to be consistent. It's kind of up and down, it's kind of hard for us to get it together."

The Liberty had 26 turnovers, which led to 31 points for the Dream. Atlanta had 16 turnovers, leading to nine points for New York.

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WNBA: McCoughtry returns as Dream trip Liberty

NEWARK, N.J. (AP) The Atlanta Dream didn't panic when the New York Liberty made a run late in the first half to take a lead at the break. They just regrouped and took control of the game in the third quarter.

Angel McCoughtry scored 23 points and Sancho Lyttle added 19 to lead the Dream to a 74-64 victory Sunday.

''We just can't let outside things get in our head,'' McCoughtry said when asked what the team discussed after giving up a 10-point lead and trailing by two at halftime. ''We were a little frustrated with some calls, a little frustrated with the way we were playing, and how they were making their run. It's called adversity, it happens. It's the game.''

McCoughtry was 7 for 20 from the field and 8 for 10 on free throws in her return after missing two games due to a knee injury, helping the Dream (5-7) snap a two-game skid.

Lyttle scored nine points, Armintie Price had five and McCoughtry added five points and four rebounds as Atlanta outscored New York 25-10 in the third quarter to take a 13-point lead.

''It's not because of me. It's a team effort and everybody coming together, regrouping after a loss,'' McCoughtry said. ''(Lyttle) hit a couple of 3s ... she has the highest 3-point percentage shooting on the team and she's a post player. Armintie got some great rebounds, got fouled. Lindsey (Harding) is coming back slowly.''

Leilani Mitchell scored 16 points, Kara Braxton had 14 points and 13 rebounds, and Cappie Pondexter and DeMya Walker added 12 points each as the Liberty (4-9) lost for the fourth time in five games. New York's lone win during that stretch came at Atlanta last Tuesday in a game McCoughtry missed.

Pondexter fouled out of the game late in the fourth quarter as the Liberty were trying to make a surge. She finished 4 for 17 from the field with seven turnovers.

''We couldn't make shots tonight,'' Pondexter said. ''They did a great job of adjusting. We were the last game they played and obviously they made a lot of adjustments. ... We just got to learn to be consistent. It's kind of up and down, it's kind of hard for us to get it together.''

The Liberty had 26 turnovers, which led to 31 points for the Dream. Atlanta had 16 turnovers, leading to nine points for New York.

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McCoughtry, Lyttle lead Dream past Liberty, 74-64

For more than a century, the Statue of Liberty, a gift of friendship from France to the people of the United States, has been a universal symbol of freedom and democracy. Dedicated in October 1886, Lady Liberty quickly came to represent hope for millions of immigrants who entered the U.S. through New York, as they set out to make a life for themselves in the land of dreams.

Ironically, the statues uplifted torch, meant to suggest enlightenment by her creators, instead represented a message of welcome to anxious immigrants who had survived an arduous journey. And, over time, the statues official Web site notes, Liberty emerged as the Mother of Exiles, a symbol of hope to generations of immigrants. She became an icon of immigration, reinforcing the idea of America being a melting pot of many cultures.

Over the last 126 years, since the statues dedication, millions of stirring stories of immigrants have emerged, but few have come to life like that of Liberty: A Monumental New Musical, making its world premiere at the Warner Theatre in Torrington by special arrangement with Theresa Wozunk. With book and lyrics by Dana Leslie Goldstein, music by Jon Goldstein, and under the direction of acclaimed New York stage director Igor Goldin, Liberty opens June 30 and will continue through July 14 at the Warner.

This is a fantastic opportunity for local audiences to see a professional production before it heads to New York, said Warner Theatre executive director John Bonanni. Our community of actors and volunteers are excited to inaugurate the Warners new professional development program, serving as an incubator for a commercial run in New York.

Liberty, according to the Warner, is a production that conveys the story of a young immigrant who arrives from France in 1884 amid anti-immigrant fervor. With powerful political forces working against her, and only a precious few on her side, she is befriended by fellow immigrants from all corners of the world. Libertys compelling and sometimes uncertain journey leads her to becoming the symbol of all immigrants, winning over the people of the United States and taking her rightful place in New York Harbor.

Featuring an entirely original score, Liberty has only been performed in pieces at venues such as the Lower East Side Tenement Museum and the New York Immigration Coalition. It was presented as a developmental workshop as part of Mayor Bloombergs Immigrant Heritage Week, as part of the grand reopening of the crown of the Statue of Liberty on July 4, 2009, and, most recently, as part of the official celebration of the 125th anniversary of the Statue of Liberty National Monument last year. As the show prepares for an off-Broadway premiere in New York City, it marks a first for the Warner Theatre, which has never before developed and premiered a new musical prior to its commercial New York run.

Ive been with the show two or three years now, Mr. Goldin said, noting that he has been with other shows from the beginning. Liberty existed before I came aboard and though I havent worked on new shows by design, I tend to enjoy it more than established shows. I like to develop a production. Its certainly more challenging, and you become completely immersed in it. There is so much of you invested in it.

Twenty-year-old Madeline Brewer, who is stepping into the role of Liberty, feels the same way. Ms. Brewer graduated in May from the American Musical and Dramatic Academy (AMDA) in New York City, and said this is her first leading role. She relishes the opportunity to shape the character for audiences who will meet Liberty for the first time June 30.

Its been crazy, but its been an awesome experience, Ms. Brewer said enthusiastically after a musical rehearsal for the production. At AMDA, were taught how to make a role our own, how to develop a character, and I have certainly had the chance to do that with Liberty. Ive discovered some things come organically, such as how I relate to her. You definitely develop a character like this differently, because you cant see how others have done it, and thats great for me as an actress.

For a first gig, she said at a press event after she was introduced to the community, this isnt too shabby. Continued...

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'Liberty' Comes to Warner