Liberty Media (Nasdaq: LCAPA) said 1Q revenue and operating cash flow for its interactive group was up 10 percent and 5 percent, respectively. The company cited continued growth at its QVC shopping network. It also pointed to additional revenues resulting from the addition of acquisitions such as online shopping site Provide Commerce and costume e-tailer Buyseasons. Its Liberty Capital Group also completed the sale of its former internet video property OpenTV for cash proceeds of $107 million during the quarter. Other highlights from 1Q:
— QVC’s revenue rose 8 percent to $1.68 billion, while operating cash flow in 1Q gained 5 percent to come in at $374 million. QVC’s domestic revenue increased 8 percent to $1.17 billion and operating cash flow increased 8 percent to $278 million.
— Liberty completed an exchange of its approximately 7.6 million CBS common shares for a corporate subsidiary of CBS, which includes the network’s Green Bay TV station and approximately $170 million in cash.
— The capital group also completed the sale of hotel entertainment system On Command for $380 million comprised of $332 million in cash and $48 million of VOD service LodgeNet’s common shares, which represents approximately 9.2 percent of LodgeNet’s outstanding shares.
— Starz Entertainment revenue increased 2 percent to $265 million while operating cash flow jumped 78 percent to $73 million. Earnings release | Webcast
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