Liberty Media plans $1-billion stock buyback

Liberty Media Corp. said it would repurchase up to $1 billion of its stock.

Liberty said it expected to launch the share offer within the next week to repurchase Liberty Capital common stock at $105 to $115 a share, a premium of between 1.2% and 9% based on Tuesday’s closing price.

The company controlled by cable television pioneer John Malone also said operating results at its QVC home shopping channel and Starz network rose in the fourth quarter. QVC’s fourth-quarter revenue rose 7% to $2.24 billion while its operating cash flow totaled $557 million, up 19%. Fourth-quarter revenue at Starz Entertainment was up 4% to $257 million.