Shares of Starz were set to be distributed to Liberty...
Shares of Starz were set to be distributed to Liberty Media shareholders Thursday, completing a long-planned spin off. Liberty Media CEO Greg Maffei told investors at a Citigroup conference this week that he did not know whether the spun-off company…
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would attract a buyer. He said recent licensing deals between studios and other premium networks such as HBO and Netflix wouldn’t preclude a movie studio from wanting to own its own premium channel. “You could make the case that Disney is far better off going and getting a huge number from Netflix and then figuring out that at least 16 channels of [pay-TV] real estate … is something they can do something very interesting with,” Maffei said. ISI Group analyst Vijay Jayant estimated Starz would have about $1.62 billion in sales in 2013, about 80 percent of which come in the form of pay-TV affiliate fees. Its biggest expense is programming costs, which were about $650 in 2011 and are due to step up as the network increases the amount of original programming it makes, he wrote investors.