Liberty Media Posts Q4 Operating Income, Revenue Surges - Quick Facts

(RTTNews) - Liberty Media Corp. (LMCA, LMCB) reported that its fourth quarter 2013 operating income was $189 million, compared to an operating loss of $60 million in the year ago quarter.

Liberty Media's revenue increased $981 million to $1.0 billion in the fourth quarter. Adjusted OIBDA increased $343 million to $319 million for the fourth quarter. The increase in revenue, adjusted OIBDA and operating income was primarily due to the acquisition of a controlling interest in SiriusXM.

SiriusXM's net income for the latest-quarter was $65 million. Quarterly revenue were $1 billion, up 12% from the prior year quarter.

SiriusXM also reiterated its 2014 guidance for revenue of over $4 billion, Adjusted EBITDA of about $1.38 billion, and net subscriber additions of about 1.25 million.

Liberty Media acquired its controlling interest in SiriusXM on January 18, 2013 and has applied purchase accounting and consolidated the results of SiriusXM since that date. Prior to the acquisition of Liberty Media's controlling interest, the company accounted for the investment in SiriusXM using the equity method, Liberty Media said.