Awesome results lead by QVC. Applying valuation measures assigned when this was sold by Comcast to Liberty in 2003....this should be trading $30 to $37. The repurchased 2.8% of shares in the Q and can continue doing that with the OCF that Q generates.
In response, DirecTV and rival EchoStar (Nasdaq: DISH - News) are spending more on high-definition offerings, advertising, exclusive content deals (such as NFL Sunday Ticket in DirecTV's case), and new service offerings. To that end, a joint venture of the two satellite broadcasters and Liberty Media plunked down almost $1 billion in down payments for the new spectrum auction, presumably to guarantee a competitive spot in wireless broadband.