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QVC, Starz Drive Liberty Gains

Gains at its QVC home shopping channel and Starz Entertainment premium
network helped drive gains at Liberty Media in the second quarter.

Liberty
Media consists of three tracking stocks: Liberty Interactive, which
includes QVC and several e-commerce companies; Liberty Starz, which
includes its premium cable service Starz Entertainment; and Liberty
Capital, which includes Starz Media and minority investments in several
media companies, such as Time Warner Inc. and Viacom.

At Liberty
Interactive, consolidated revenue was up 6% to $2.1 billion and adjusted
operating income before depreciation and amortization rose 4% to $428
million, largely due to increases at QVC.

QVC increased domestic
revenue by 4% to $1.2 billion and domestic AOIBDA rose 10% to $303
million, fueled by strong gains in several product categories, including
kitchen, cooking and accessories. QVC's e-commerce business - QVC.com -
also increased sales by 21% in the quarter.

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