Liberty Media 2Q: Interactive, Starz Gain Ground

QVC shopping channelLiberty Media Corp. said it had positive, steady results in its second quarter from all its cable companies.

Liberty Media Interactive, which houses home shopping channel QVC, grew 9% to $1.76 billion in the second quarter, with operating income up 1% to $253 million.

QVC's U.S. domestic revenue dropped slightly to $1.181 billion, adding that product sold shifted to the accessories area from the home and jewelry categories. But QVC's international revenue increased 14% in the second quarter to $580 million, due to favorable foreign currency exchange rates and subscriber growth in the U.K. and Japan.

In addition to QVC, Liberty Interactive includes e-commerce companies, Provide Commerce, Backcountry.com, Bodybuilding.com and BuySeasons, as well as a 30% interest in IAC/InterActiveCorp, a 24% interest in Expedia and a 20% interest in GSI Commerce.

Liberty Entertainment Group, which is home to Starz Entertainment's movie channels, witnessed an 8% revenue increase to $275 million, with operating income up 26% to $53 million. Starz subscribers grew 900,000 over the second quarter 2007 to 17 million, while Encore subscribers climbed 2.9 million to 31.3 million.

The company notes that through its deal with News Corp, Liberty now has a 49% economic ownership of DirecTV, with a 48% voting control of the company.

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