Liberty Media Profit Up 86% After Buying QVC
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From Bloomberg News
Liberty Media Corp., the media investment company controlled by John Malone, said third-quarter profit rose 86% to $41 million after it bought QVC Inc., the biggest home-shopping television network.
Net income of the Englewood, Colo.-based company increased to 2 cents a share from $22 million, or 1 cent, a year earlier. Revenue surged 72% to $905 million from $525 million.
Shares fell 5 cents to $10.03 on the New York Stock Exchange.
