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What do you say when you constantly get what I would assume. Is this chatter about these discounts well I say a couple of. Things first you know we're interested in long-term investing and we're interested in the performance of the underlying. Companies generally those discounts sort themselves out over time but in addition we take actions to try and take advantage of the discounts for example as you noted Liberty serious trades at a 30-ish 28 something like that percent discount to the underlying SiriusXM stock we think that's kind of silly we try and take advantage by. Buying back the Liberty serious stock we bought back for two million dollars worth in the lasts six to nine months at a substantial discount so if serious today is trading about 6:15 6:17 something like that this morning the price we paid for the Liberty serious stock shows an underlying price a look through price for. Serious I think a 477 per share we like buying back stock at 477 per share I would bet you do now there. Was a time it's a while already ago where you did make an offer to try to buy it in it. Didn't work out is that's something that you would ever revisit I would assume at some point you might yes absolutely but we're pretty disciplined we'd like to think so using Liberty. Serious stock which trades at that big discount to pay by in serious stock which trades at full value and. Have to pay a premium even to the serious stock seems like a losing strategy for our Liberty serious shareholders so we're gonna wait for the right time or we're gonna use. Other currencies or we'll do something different but I doubt we'll buy it in fact I'm pretty confident we won't. Be paying a big premium for serious in Liberty serious the. Discounted currency all right well I'm gonna have a chance to talk about serious business with Jim Meyer so we don't have to spend too much time on that we have Liberty Formula. One series a up right now on all right on our we don't screen walk say again flunk walk canula 1k a flunk ourf wanna also yeah das chase carry the guy who runs it is presenting right now Rockstar what's going to go. On in the united states are you guys making progress in terms of this hope of bringing what is largely been a European sport into the u.s. so I think that's one of our long-term absolute key goals one could say that the prior management team was focused on short-term results and so getting venues which were willing to pay you. A lot of money but didn't necessarily build the long-term health of the sport we're emphasized relative to do. Which is grow the United States and we've had very positive discussions in. Miami in Las Vegas places which we complement the race we already have at Circuit of the Americas in Austin that would hopefully grow demand in the United States we've done other. Things about growing demand in the United States we've moved to ESPN getting far more exposure. On ESPN on ABC on espn2 and and also pushing our own OTT product. In the u.s. so all those dense and pushing your own OTT product in the u.s. the idea of a subscription service for people who obviously love this kind of rate car is look there are a couple things are gonna happen we're gonna have free-to-air which could be on ABC. We're gonna have pay which could be here in the United States on ESPN but in. Markets like the UK or on bskyb but we're also gonna build two kinds of digital product I expect the current one is the one we're focused on ourselves building an OTT product we launched that this year in May really it's in beta I expect over time it'll fill out and be a very rich product we have cameras. In all 20 cars we have tons of data we hope to build a product which is differentiated and show real fans who have real interest a ton of cat a differentiated material that they can only get. On the OTT product the other point is I think over time you'll have over the top digital players the Amazons of the world bid on our content they're increasingly become major players in the video space both in scripted content and increasingly in sports and I expect we're going to be beneficiaries of that part of digital as well okay I. Know part of your presentation you broadly speaking here said the content business I won't quote you directly but it's not the best right now what do you mean by that look a scripted content is a very crowded space there are many kinds of competition for attention for the 24. Hours a day screens time has increased dramatically but there are many things competing and scripted content has not only had increase in investment among traditional players it's had many new players whether it be Netflix are now Amazon or Apple enter when you add what. Some people estimate David Nevins a show time for examples things could be a hundred million dollars of spending on original content hundred billion a year a hundred billion a year yeah how do you get a return on that well you can see how it easily adds up Netflix is gonna be 12 Amazon is gonna be 15. Increasing so it's gonna be 15 well that's what I tell people estimate they did 12 actually know next year Oh II Amazon's gonna exceed Netflix yes that's one of the estimates look I don't know they don't tell us their budgets that's an estimate of some observers well then the rumors about what they're gonna spend on Lord of the Rings. You can see how they could get there pretty easily so when you have that kind of spending the right question is how did someone get a return on all that capital and I think. That makes it a very crowded space no matter how good your content is and costs have gone up per hour and but no matter how good quality high quality the cinematographer the acting the writing etc just. How do you get a return on that much capital I think is a challenge it's funny you mentioned Apple as well when you brought this up and so did John Malone who I spoke to earlier is Apple going to become a serious player in terms of buying content well let's. We'll see what they do they're clearly ramping they've done some interesting things they spent twenty million dollars on a 30-minute segment on carpool karaoke what traditional content player could justify that kind of spending but if. You're Apple with 1.4 billion. Devices out there and the opportunity to sell the 1.15 device you know it may very well make sense they compete on a different set of terms. And I think. They're very smart Tim Cook and EQ they know what they're doing but it's not make doesn't make it. Easy doesn't make it simple for. Traditional players you you.

 


Liberty Media Company News

Thu, 09 May 2019 13:31:22 GMT
Liberty Media reveals Braves’ first-quarter financial results - Atlanta Journal Constitution
<ol><li> Liberty Media reveals Braves’ first-quarter financial results Atlanta Journal Constitution</font></li><li><a href="/url/?u=https://www.hollywoodreporter.com/news/liberty-media-swings-first-quarter-loss-1208805" target="_blank">Liberty Media Swings to First-Quarter Loss Hollywood Reporter</font></li><li><a href="/url/?u=https://www.marketwatch.com/press-release/liberty-media-corporation-reports-first-quarter-2019-financial-results-2019-05-09" target="_blank">Liberty Media Corporation Reports First Quarter 2019 Financial Results MarketWatch</font></li><li><a href="/url/?u=https://seekingalpha.com/article/4262197-formula-one-groups-fwona-ceo-chase-carey-q1-2019-results-earnings-call-transcript" target="_blank">Formula One Group's (FWONA) CEO Chase Carey on Q1 2019 Results - Earnings Call Transcript Seeking Alpha</font></li><li><strong><a href="/url/?u=https://news.google.com/stories/CAAqOQgKIjNDQklTSURvSmMzUnZjbmt0TXpZd1NoTUtFUWlRdGREempZQU1FUTVNcHAwbUdrcFRLQUFQAQ?oc=5" target="_blank">View full coverage on Google News</a></strong></li></ol>
Mon, 06 May 2019 14:03:00 GMT
Liberty Media interested in W Series concept - Coulthard - F1i.com
Liberty Media interested in W Series concept - Coulthard F1i.com W Series advisory board chairman David Coulthard says F1 has expressed an interest in perhaps putting the all-female championship on its bill in the future.
Wed, 08 May 2019 08:10:06 GMT
Recent Technicals: Liberty Media Corporation Liberty SiriusXM (NASDAQ: LSXMA) - Reagents Global Market
Recent Technicals: Liberty Media Corporation Liberty SiriusXM (NASDAQ: LSXMA) Reagents Global Market Liberty Media Corporation Liberty SiriusXM trades as part of the consumer cyclical sector and entertainment industry. The company CEO is Gregory B. Maffei.
Thu, 09 May 2019 14:56:02 GMT
Liberty Media Corporation - Ser - Consenus Indicates Potential 11.5% Upside - DirectorsTalk Interviews
Liberty Media Corporation - Ser - Consenus Indicates Potential 11.5% Upside DirectorsTalk Interviews Liberty Media Corporation - Ser found using ticker (FWONK) have now 3 analysts covering the stock with the consensus suggesting a rating of 'Buy'. The.
Thu, 09 May 2019 20:02:00 GMT
Formula 1 Visits Chicago This June With A Local Fan Festival - Carscoops
Formula 1 Visits Chicago This June With A Local Fan Festival Carscoops Formula 1 is set to host a special fan festival on the streets of Chicago, Illinois in June as championship owner Liberty Media aims to increase the popularity of ...
Wed, 08 May 2019 10:33:20 GMT
Liberty Media Formula One Series C (FWONK) Set to Announce Earnings on Thursday - Rockland Register
Liberty Media Formula One Series C (FWONK) Set to Announce Earnings on Thursday Rockland Register Liberty Media Formula One Series C (NASDAQ:FWONK) is set to release its earnings data before the market opens on Thursday, May 9th. Analysts expect ...
Tue, 16 Apr 2019 07:00:00 GMT
Disney Gets Final Bids for Fox’s Regional Sports Networks - Bloomberg
Disney Gets Final Bids for Fox’s Regional Sports Networks Bloomberg Walt Disney Co. received final-round bids of about $10 billion and up for the Fox regional sports networks, with John Malone's Liberty Media Corp. and Sinclair ...
Wed, 10 Apr 2019 07:00:00 GMT
LIBERTY MEDIA CORPORATION (NASDAQ:LMCK) Files An 8-K Regulation FD Disclosure - Market Exclusive
LIBERTY MEDIA CORPORATION (NASDAQ:LMCK) Files An 8-K Regulation FD Disclosure Market Exclusive LIBERTY MEDIA CORPORATION (NASDAQ:LMCK) Files An 8-K Regulation FD Disclosure Item 7.01. Regulation FD Disclosure. Story continues below.
Thu, 09 May 2019 06:39:37 GMT
Sirius XM Stock Needs to Get a Little Cheaper - Nasdaq
Sirius XM Stock Needs to Get a Little Cheaper Nasdaq InvestorPlace - Stock Market News, Stock Advice & Trading TipsSirius XM (NASDAQ: SIRI ) stock seems to be in a solid position at the moment. The.
Wed, 10 Apr 2019 07:00:00 GMT
Current Valuation: Liberty Media Corporation Liberty SiriusXM (NASDAQ: LSXMA) - Reagents Global Market
Current Valuation: Liberty Media Corporation Liberty SiriusXM (NASDAQ: LSXMA) Reagents Global Market Liberty Media Corporation Liberty SiriusXM trades as part of the consumer cyclical sector and entertainment industry. The company CEO is Gregory B. Maffei.