Latest news with #JohnMalone
CNBC
05-08-2025
- Business
- CNBC
Berkshire Hathaway hikes Sirius XM stake to 37% after a sell-off on weak earnings
Warren Buffett's Berkshire Hathaway once again scooped up shares of Sirius XM , hiking its stake in satellite radio company to about 37% of shares outstanding, after a sell-off on disappointing earnings. The Omaha-based conglomerate bought 5 million shares of Sirius XM via separate transactions on Thursday, Friday and Monday, according to a regulatory filing released Monday evening. Berkshire now owns 124.8 million shares, worth about $2.6 billion. Berkshire first invested in Sirius XM after billionaire John Malone's Liberty Media completed its deal in 2024 to combine its tracking stocks with the rest of the audio entertainment company. It was part of Malone's reshuffling of his sprawling media empire that also included a split-off of the Atlanta Braves baseball team into a separate, publicly traded company — which Berkshire also owns shares in. SIRI YTD mountain Sirius XM year to date The 94-year-old Buffett has never mentioned the investment publicly, and it's unclear if he's behind it or if it's the work of the billionaire's investing lieutenants — either Ted Weschler or Todd Combs. The latest purchase came after Siri's second-quarter earnings report on Thursday. The stock dropped nearly 8% that day after the company's quarterly profit declined more than expected. Siri also warned about continuous weakness in the advertising market amid the economic uncertainty. "2025 continues to be a transition year, though we believe management continues to execute well, and we don't see a meaningful shift in fundamentals," Evercore ISI analysts said in a note to clients Friday. Shares of Siri are down 4% this year after a 58% loss in 2024.
Yahoo
25-07-2025
- Business
- Yahoo
Charter Stock Falls Sharply In Wake Of Q2 Earnings Miss; CEO Chris Winfrey Calls Streaming A Boon To Pay-TV Bundle
Charter Communications stock was down sharply in mid-day trading Friday after the company reported second-quarter earnings well below Wall Street expectations. The Spectrum cable and broadband provider said its second-quarter adjusted earnings came in at $9.18 a share and revenue hit almost $13.8 billion. While revenue met analysts' consensus expectation, the profit figure fell way short of the Street's consensus forecast of $9.58. More from Deadline 'Dexter: Resurrection' Premiere Creeps To 4.4M Cross-Platform Viewers In 7 Days, Up 25% Over 'Original Sin' 'Jurassic World Rebirth' Injects New Life Into Universal's Dino Franchise On Peacock With 'Dominion' Viewing Up 186% 'Zombies 4: Dawn Of The Vampires' Premiere Cements DCOM Franchise As One Of Disney+'s Most Popular Shares in Charter were down 18% midway through Friday's session, on more than quadruple their normal trading volume. In addition to the profit miss, many investors are concerned about the risks of Charter's pending $34.5 billion merger with Cox Communications. John Malone's Liberty Broadband owns 26% of Charter, but the latter company last year announced a plan to acquire the former in a transaction projected to close later this summer. Warren Buffett's Berkshire Hathaway and Condé Nast parent Advance/Newhouse also are also Charter shareholders. CEO Chris Winfrey defended the Cox deal during a conference call with analysts, saying the company has a 'proven' history of successfully integrating large-scale companies it has acquired, among them Time Warner Cable. Asked about the state of Charter's video business, which reached a crossroads two years ago ahead of a landmark distribution agreement with Disney, Winfrey said it remains a key strategic priority. While the company is offering select 'skinnier bundles' in response to customer price sensitivity and the unraveling of the traditional pay bundle, the exec said the company is now providing $100 a month in added value by integrating various subscription streamers into TV and broadband packages. What is 'most beneficial to us and programmers and, we think, to consumers is to have the full-fledged, expanded video product, because it has the most content in there, at the best value,' Winfrey said. Charter reported a decline of 80,000 video subscribers during the quarter, far fewer than the decline of 408,000 in the year-ago period. Winfrey said the company is seeing lower churn rates and more customers upgrading to higher tiers in order to get bundled streaming access. The company has also worked to get more sophisticated in trying to upsell customers at the moment they are interested in viewing particular programming, Winfrey maintained. 'A good example of that would be the inclusion of Peacock now that they're going to have 50 exclusive games' when NBCUniversal's NBA rights deal kicks in this coming season,. he said. The Spectrum app and program guide 'allows them to either activate a Peacock subscription, which is included for expanded video, or to upgrade into the full, expanded package from a skinny package.' Similar app and guide pushes are already implemented with HBO Max, Hulu and Disney+, he added. Best of Deadline 2025 TV Cancellations: Photo Gallery 2025 TV Series Renewals: Photo Gallery Everything We Know About Season 3 Of 'Euphoria' So Far Sign in to access your portfolio
The Sun
24-06-2025
- Automotive
- The Sun
EU approves MotoGP takeover by F1 owner Liberty Media
THE acquisition of MotoGP by Liberty Media, the American group that owns Formula One, received the green light from The European Commission on Monday. Liberty and the Commission both released statements saying the deal had received 'unconditional approval'. 'The deal is now expected to close no later than July 3, 2025, opening the door to a new era for the sport,' said MotoGP on its web site. Liberty had agreed to buy the motor-cycle grand prix competition from Dorna Sports in April 2024, but the European Commission opened an investigation to determine whether the merger violated competition rules. Colorado-based Liberty said it would acquire 84 percent of MotoGP with Dorna, a Madrid-based company, retaining 16 per cent in a deal that valued the company at 4.3 billion euros ($5 billion). The Commission had been concerned 'that the transaction could lead to an increase in licensing prices for broadcasting rights to motorsports events.' On Monday the Commission said it was satisfied that, in the European national markets it investigated, 'the companies are not close competitors for the licensing of broadcasting rights for sports content.' The Commission also looked at Liberty Media's relationship with parent company Liberty Global, a leading cable operator in several European countries. The statement said there was 'insufficient evidence that Mr. John Malone, Liberty Media's largest shareholder, could exercise decisive influence over Liberty Global.' 'We are thrilled,' said Derek Chang, Liberty Media President and Chief Executive Officer, in the company statement. 'MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile. We believe the sport and brand have significant growth potential.' Since Liberty took control of F1 in 2017, it has implemented an expansion strategy, particularly in the United States, making spectacle its main focus. With the help of the long-running Netflix series 'Drive to Survive,' the group has attracted a younger, more female audience. 'MotoGP is one of the most thrilling sports on earth, and we look forward to accelerating the sport's growth and expanding its reach to even more fans around the world,' said Dorna chief executive Carmelo Ezpeleta in the Liberty statement. As part of the deal Ezpeleta, CEO since 1998, and his team will continue to run MotoGP. 'Liberty is the best possible partner for our sport and the entire MotoGP community, and we are excited to create even greater value for our fans, commercial partners and everyone competing,' he said.
Gulf Today
24-06-2025
- Automotive
- Gulf Today
EU approves MotoGP takeover by F1 owner Liberty Media
The acquisition of MotoGP by Liberty Media, the American group that owns Formula One, received the green light from The European Commission on Monday. Liberty and the Commission both released statements saying the deal had received "unconditional approval". "The deal is now expected to close no later than July 3, 2025, opening the door to a new era for the sport," said MotoGP on its web site. Liberty had agreed to buy the motor-cycle grand prix competition from Dorna Sports in April 2024, but the European Commission opened an investigation to determine whether the merger violated competition rules. Colorado-based Liberty said it would acquire 84 percent of MotoGP with Dorna, a Madrid-based company, retaining 16 per cent in a deal that valued the company at 4.3 billion euros ($5 billion). The Commission had been concerned "that the transaction could lead to an increase in licensing prices for broadcasting rights to motorsports events." On Monday the Commission said it was satisfied that, in the European national markets it investigated, "the companies are not close competitors for the licensing of broadcasting rights for sports content." The Commission also looked at Liberty Media's relationship with parent company Liberty Global, a leading cable operator in several European countries. The statement said there was "insufficient evidence that Mr. John Malone, Liberty Media's largest shareholder, could exercise decisive influence over Liberty Global." "We are thrilled," said Derek Chang, Liberty Media President and Chief Executive Officer, in the company statement. "MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile. We believe the sport and brand have significant growth potential." Since Liberty took control of F1 in 2017, it has implemented an expansion strategy, particularly in the United States, making spectacle its main focus. With the help of the long-running Netflix series "Drive to Survive," the group has attracted a younger, more female audience. "MotoGP is one of the most thrilling sports on earth, and we look forward to accelerating the sport's growth and expanding its reach to even more fans around the world," said Dorna chief executive Carmelo Ezpeleta in the Liberty statement. As part of the deal Ezpeleta, CEO since 1998, and his team will continue to run MotoGP. "Liberty is the best possible partner for our sport and the entire MotoGP community, and we are excited to create even greater value for our fans, commercial partners and everyone competing," he said. Agence France-Presse
News18
23-06-2025
- Automotive
- News18
Liberty Media Given Nod In MotoGP Acquisition Pursuit By European Commission
Last Updated: Liberty is set to acquire 84 per cent of MotoGP with Dorna retaining 16 per cent in a deal valued around the 4.3 billion euro mark. The European Commission gave Liberty Media, the group that owns Formula One, the nod in their bid to acquire MotoGP on Monday. Liberty is set to acquire 84 per cent of MotoGP with Dorna retaining 16 per cent in a deal valued at around the 4.3 billion euro mark, following the unconditional approval of the European body. Liberty agreed to buy the motorcycle event from Dorna Sports in April 2024, but the Commission opened an investigation to determine if the merger held up against the integrity of competition rules. Dorna chief executive Carmelo Ezpeleta, who will continue to run MotoGP alongside his team as they have since 1998, said, 'MotoGP is one of the most thrilling sports on earth, and we look forward to accelerating the sport's growth and expanding its reach to even more fans around the world." 'Liberty is the best possible partner for our sport and the entire MotoGP community, and we are excited to create even greater value for our fans, commercial partners and everyone competing," he said. 'The deal is now expected to close no later than July 3, 2025, opening the door to a new era for the sport," the MotoGP website read. The Commission had been concerned that the transaction could lead to an increase in licensing prices for broadcasting rights to motorsport events. It also examined Liberty Media's relationship with its parent company, Liberty Global, a leading cable operator in several European countries. The Commission announced it was satisfied that, in the European national markets it investigated, the companies are not close competitors for the licensing of broadcasting rights for sports content on Monday. The statement indicated there was insufficient evidence that Mr. John Malone, Liberty Media's largest shareholder, could exert decisive influence over Liberty Global. Liberty took over F1 in the year 2017, and has implemented an expansion strategy since, with a penchant for spectacle. First Published:
