Highlights include:
- SiriusXM reported strong fourth quarter and full-year 2015 results
- Net subscriber growth in 2015 of 2.3 million, up to 29.6 million
- 2015 revenue up 9% to a record $4.6 billion
- Net income of $510 million
- Yesterday Liberty Media settled litigation with Vivendi Universal for $775 million
- Liberty Media’s ownership of SiriusXM stood at 62.1% as of January 29th
“SiriusXM had another outstanding quarter and year, reaching record revenue and adjusted EBITDA, ending the year with 29.6 million subscribers. SiriusXM continues to focus on its world-class exclusive content and announced a long-term agreement with Howard Stern that includes Stern’s extensive audio and video library, in addition to channels with David Bowie, Billy Joel, Hank Haney and Nigel Barker,” stated Greg Maffei, President and CEO of Liberty Media.“At Liberty, we are very pleased to announce a settlement of litigation with Vivendi which resulted in a payment of $775 million, of which we will net after-tax proceeds of approximately $420 million. We continue to make progress on our plan to recapitalize into three tracking stock groups and expect to hold a shareholder vote in April.”
Liberty Media announced today that it has entered into a settlement of its lawsuit against Vivendi Universal S.A., pursuant to which Vivendi S.A. has paid Liberty Media $775 million in settlement of all claims related to a dispute that arose from a 2001 transaction. Following the payment of a contingency fee to its legal counsel, as well as amounts payable to Liberty Global plc, a former subsidiary which was a plaintiff in the action, Liberty Media expects to net after-tax proceeds of approximately $420 million in cash.
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