Liberty Media Do not adjust your sets

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Scott Marchakitus

On August 12, we initiated coverage on Liberty with an overweight recommendation, reflecting the company’s strong asset coverage, healthy liquidity position, and attractive valuations. Despite the company’s recent purchase of QVC, we believe Liberty has enough financial firepower to bid for the Vivendi Universal Entertainment (VUE) assets.

The acquisition of QVC was the likely first step in Liberty’s transformation to an operating company. Ov

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