Liberty Media Corp. (LMCA, Financial), the holding company for media investments made by John Malone and his team, rose 13.6% in the quarter due primarily to the continued appreciation of Sirius XM Radio shares, of which Liberty controls and now owns over 50%. Sirius continues to grow its cash flow by over 25% and is levering up by aggressively repurchasing its stock under Liberty's guidance. Liberty also made a new meaningful investment in cable operator Charter Communications, Malone's heritage industry. Can you say "Back to the Future?"
From Ron Baron’s second quarter 2013 commentary.
From Ron Baron’s second quarter 2013 commentary.
