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Thread: 01/13/2014 To 01/19/2014 What's got TheDog up today....MMPORN?...or a REALHOTTY

  1. #71
    denco1 is offline
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    Joined: Nov 2012 Location: Shortie's A$$ Posts: 1,340
    How about some support MEYERS/committee !!!!....get off your a$$ and give us a counter#



    uh>>>>>>FUMALONE

  2. #72
    pjgourley is offline
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    Joined: Mar 2013 Location: Houston Posts: 74
    LMCA market cap today is $15.68 Billion
    Sirius XM market cap today is $22.79 Billion

    If Liberty owns 52% of Sirius XM, that would be $11.8508 Billion which is about 75.579% of Liberty's market cap

    Without Sirius XM, Liberty would only be worth $3.8292 Billion

    So Malone is saying that the part of Sirius XM he does not own is worth only $10.84 billion according to the .076 ratio

    I really need to wrap my brain around this.
    Last edited by pjgourley; 01-17-2014 at 03:25 PM.

  3. #73
    MLSiri is offline
    Quote Originally Posted by pjgourley View Post
    LMCA market cap today is $15.68 Billion
    Sirius XM market cap today is $22.79 Billion

    If Liberty owns 52% of Sirius XM, that would be $11.8508 Billion which is about 75.579% of Liberty's market cap

    Without Sirius XM, Liberty would only be worth $3.8292 Billion

    So Malone is saying that the part of Sirius XM he does not own is worth only $10.84 billion according to the .076 ratio

    I really need to wrap my brain around this.
    PJ, you also need to include the 9.9 million LMCB shares (about 95% owned by Malone). As of today ($136.23 per share), they are worth about $1.3455 billion. So, LMC in total is only worth about $5.1747 billion without SIRI; which means SIRI equates to about 70% of LMC.

    Also, the .076 ratio applies to the number of SIRI shares that will be needed to convert into one share of LMCC, not to stock price or share value. It may loosely translate to dollars, but only the .0253 ratio applies to share price (i.e., based on LMCA's closing share price of $137.32, each SIRI share is valued (de-valued@!#) at $3.474). Hope that helps.... I know it didn't help me understand this any better!
    Last edited by MLSiri; 01-17-2014 at 04:35 PM.

  4. #74
    pjgourley is offline
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    But aren't the B's like preferred? I think B's derive their value from A holdings.

  5. #75
    MLSiri is offline
    Quote Originally Posted by pjgourley View Post
    But aren't the B's like preferred? I think B's derive their value from A holdings.
    Both LMCA and LMCB are separate classes of common stock and they both count towards Liberty Media Company's (LMC) total diluted share count/market cap. I believe the LMCB shares were given to Malone in the Starz spin off. He can convert them into LMCA shares, and vice versa, whenever he wants to. Think of each LMCB share as a preferred share which is GAAP-required to be included in diluted share count and company valuation models. BTW, each LMCB share counts as 10 LMCA votes - talk about your super charged voting influence....

    Also, go to the Liberty Media 3rd quarter 10-Q, Consolidated Balance Sheet section on stockholder's equity. It lists Series A, B & C common stock. There are 2 billion C series shares authorized, but none are outstanding or issued as of 9/30/2013. This proposal appears to represent the first time they will come into play. The balance sheet is ready....

  6. #76
    midas360 is offline
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    Joined: Dec 2012 Location: Trading Pit Posts: 457
    me too PJ! Love Apple's ecosystem! They make the best products!

    Quote Originally Posted by pjgourley View Post
    Love my Apple products, will not go back to the other stuff. Bought my first MAC computer 2 years ago, love it. I am now an Apple addict. Pads Pods Phones.

  7. Ad Fairy Senior Member
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