By McCauley Braun

Liberty Media Corporate Office and Headquarters

12300 Liberty Boulevard

Englewood, Colorado  80112

Telephone: (720) 875-5400

Company Overview

Liberty Media Corporation is a mass media and communications company that owns a wide range of companies within the entertainment business. Some of it’s subsidiaries include True Position, Inc., Atlanta National League Baseball Club, Inc., Live Nation, Barnes and Noble, and Sirius XM. Liberty Media Corporation also holds minor equity investments in Time Warner Inc. and Viacom.

Management Team

John Malone – Chairman

Mr. John Malone has been the chairman of Liberty Media Corporation since 1990, and the chairman of Liberty Global, Inc., Liberty Media Corporation’s cable provider – which happens to be the leading international cable operator. Mr. Malone has received many awards throughout his career, including the NCTA Vanguard Award in 1983, which is considered one of the highest honors and most prestigious awards in cable television [1].

Greg Maffei – President and Chief Executive Officer

Mr. Greg Maffei has been Chief Executive Officer since 2006.  Mr. Maffei  serves as the chairman for some of Liberty Media’s largest assets including Starz, Live Nation, and Sirius XM. In addition, Mr. Maffei also serves as President and Chief Executive Officer of Liberty Interactive. Under Mr. Maffei’s delegation, Liberty Media Corporation has exceeded some of the major competing media companies in the industry [1].

Richard N. Baer – Senior Vice President and General Counsel

Mr. Richard N. Baer was just recently elected Senior Vice President and General Counsel in January 2013 [1]. Mr. Baer is responsible for overseeing Liberty Media Corporation’s legal, regulatory, and compliance matters [2].

Mr. David J. A. Flowers – Senior Vice President and Managing Director or Alternative Investments

Mr. David J. A. Flowers has served as senior vice president and managing director of alternative investments since November 2011 [1].

Albert E. Rosenthaler – Senior Vice President (Not Pictured) Mr. Albert E. Rosenthaler has served as senior vice president of Liberty Media Corporation since May 2007. Mr. Rosenthaler is responsible for overseeing the company’s corporate tax functions [1].

Christopher W. Shean – Senior Vice President and Chief Financial Officer (Not Pictured) Mr. Christopher W. Shean has served as senior vice president and chief financial officer since January 2011. As senior vice president and chief financial officer, he oversees all accounting and treasury functions at Liberty Media Corporation [1].

A Brief History

Liberty Media’s beginning was it’s merging with Tele-Communications (TCI) in the late-90s [3]. In 1998, Tele-Communications merged with AT&T, which consequently made Liberty Media Interactive, a media conglomerate branch of Liberty Media Corporation that creates trading stock, a tracking stock of AT&T in the New York Stock Exchange. However, in 2001, Liberty Interactive split from AT&T and began trading stock under it’s own name. In 2003, Liberty Interactive merged with Ascent Media Group and Liberty Satellite and Technology, Inc. It wasn’t until 2011 that Liberty Interactive separated from Liberty Media Corporation which held all of the business, assets, and liabilities previously attributed to Liberty Interactive [4].

Quarterly Report – Year End 2012 Financial Report

On January 11, Liberty Media Corporation completed it’s official separation from Starz, and Liberty Media Corporation received $1.2 billion in compensation. In addition, the FCC approved Liberty Media Corporation’s complete control over Sirius XM. Consequently, Liberty Media Corporation purchased 50 million more shares in Sirius XM which made Liberty Media Corporation 50% owner, and therefore resulted in consolidation. Liberty Media Corporation also purchased more shares in Live Nation which increased Liberty Media Corporation’s ownership by 27%.

Overall, Liberty Media’s revenue decreased 52% to $426 million in the fourth quarter, and decreased annually 32% to $2 billion. Additionally, operating income before depreciation and amortization decreased 76% to $77 million for the quarter, and decreased 58% to $450 million a year. Lastly, operating income decreased 91% to $25 million for the quarter, and 66% to $326 million annually. According to Liberty Media Corporation, the loss of revenue can be attributed to deferred revenue costs of one of their assets, True Position, Inc., the prior year [5].

Liberty Media Corporation’s Assets Today

Liberty Media Corporation holds a myriad of assets both directly and indirectly through joint ventures, partnerships, common stock investments, and assets convertible into common stock.

Associated Partners, L.P (37%): An investment and operating investment agency that helps customers receive long-term, risk balanced tax refunds.

Atlanta National League Baseball Club, Inc. (100%): Owner of the Atlanta Braves and their assets which include some minor league baseball clubs.

Barnes & Noble, Inc. (17%): The world’s largest bookstore operating in 50 states as well as online. Barnes & Noble, Inc. is also a Fortune 500 company.

CenturyLink, Inc. (<1%): Provider of broadband, voice, and video services. CenturyLink, Inc. operates in 37 states.

Crown Media Holdings, Inc. (3%):  United States cable owner and provider.

Ideiasnet (5%): Technology, media, and telecommunications developer and provider. Idaiasnet acquires stakes in companies’ projects and invests in those projects.

Kroenke Arena Company, LLC (7%): Owner of The Pepsi Center, a sports facility in Denver, Colorado.

Leisure Arts, Inc. (100%): Owner of publisher of crafts, decorating, lifestyle, and other home improvement “how-to” books.

Liberty Associated Partners, L.P. (29%): Investment firm specializing in private equity investments.

Live Nation Entertainment, Inc. (27%): Largest live entertainment company in the world that specializes in sponsorship, ticketing solutions, artist management, eCommerce, and concert promotion and venue operations.

MacNeil/Lehrer Productions (67%): Producer of PBS News HourI and other educational documentaries.

Mobile Streams Plc (16%): Global mobile content retailer. Mobile Stream PIc sells music, polyphonic ringtones, videos, and graphics.

Sirius XM Radio Inc. (50%): American satellite radio provider. Sirius XM Radio, Inc. provides all content from talk to sports, to entertainment, to Top-40 hits, all commercial-free.

Sprint Nextel Corporation (1%): Provides a range of wireless and wireline communications products.

Time Warner Cable Inc. (1%): One of the largest cable providers in the world. Time Warner Cable offers video, high-speed data, and voice services over broadband cable systems.

Time Warner Inc. (1%): Media and entertainment company that provides film entertainment, television networks, cable systems, interactive services, and music.

TruePosition, Inc. (100%): Owner of company providing location-based solutions for national security and public safety.

Viacom Inc. (1%): Global media company whose assets include companies such as MTV, Paramount Pictures, CMT: Country Music Network, TV Land, and Comedy Central.

All information on assets source [6].

Sources

[1] http://ir.libertymedia.com/management.cfm

[2] http://iaals.du.edu/about-the-institute/board-of-advisors/richard-n-baer/

[3] http://en.wikipedia.org/wiki/Liberty_Media

[4] http://www.libertymedia.com/company-history.aspx

[5]  http://ir.libertymedia.com/releasedetail.cfm?ReleaseID=743807

[6] http://www.libertymedia.com/asset-list.aspx