Liberty Reports Strong Q3 Results For SiriusXM

Profit surges..Interactive up 3.1%

Liberty Media Corporation today reported third quarter 2013 results.

Highlights include:

• SiriusXM reported strong Q3 results
• Subscriber base grew to 25.6 million
• Revenue of $962 million, up 11% from the third quarter of 2012
• Adjusted EBITDA(2) grew 21% to $296 million
• Net income of $63 million
• Repurchased $1.6 billion in shares from January 1 through September 30, 2013
• Reached repurchase agreement with SiriusXM to repurchase $500 million of SIRI shares from Liberty Media
• Acquired 5.2% of outstanding Liberty Media common stock from Comcast Corporation in October
• Issued $1.0 billion principal of 1.375% Cash Convertible Senior Notes due 2023 in October

Greg Maffei

"It was a busy October for Liberty. We completed a transaction with Comcast which resulted in our repurchase of 6.3 million Liberty Media shares or 5.2% of our outstanding shares which takes total repurchases to over 51%," said Greg Maffei, President and CEO of Liberty Media.

"We also reached an agreement with SiriusXM for them to repurchase $500 million of their shares from us. Finally, we received a very positive response to our 1.375% convertible senior notes offering which was upsized to $1 billion from $500 million."