Liberty Media Corp. (LMCA, LMCB) Thursday reported net earnings of $22 million compared with $8.05 million in the prior-year quarter.
The company's first quarter revenues rose to $1.01 billion from $789 million in the year-ago period.
Operating income for the quarter increased to $155 million from $151 million last year. The increase in revenue and operating income was primarily due to the inclusion of a full quarter of SiriusXM segment's results combined with strong operating results at SiriusXM.
Further, the company said it has approved the issuance of shares of its Series C common stock to holders of its Series A and Series B common stock, to be effected by means of a dividend. Holders of Series A and Series B common stock as of 5:00 pm. E.D.T. time on July 7, 2014, will receive a dividend of two shares of Series C common stock for each share of Series A or Series B common stock on July 10, 2014.
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