HOLLYWOOD — John Malone’s Liberty Digital, which holds investments in interactive television and Internet businesses, posted a narrowed second-quarter loss Monday thanks to a reduction in stock-compensation expenses.
The Los Angeles-based company, basically a tracking stock controlled by Liberty Media Group, posted a loss of $9.6 million in the latest quarter, compared with red ink of $227 million in the same period a year ago.
Cash flow of $2.2 million compared with a negative $247.3 million in the year-ago period, but revenue was off 2% at $17.7 million. Liberty Digital said the slippage resulted from Hughes Electronics’ acquiring satcaster PrimeStar and terminating a service agreement with Liberty’s DMX Music interactive-audio subsidiary.
First-half investments by Liberty Digital have included new stakes in interactive TV companies including ACTV, ICTV, Entera and RespondTV, Liberty Digital chief executive Lee Masters noted.
“We continued making substantive progress toward our goal of becoming a leading provider of interactive television programming,” Masters said. “We intend to develop a suite of category-specific interactive channels that deliver shopping, transaction services, entertainment and information to viewers through the television.”