Liberty Interactive revenue in Q4 increased 6 percent in the quarter to $2.33 billion from $2.23 billion, driven mainly from results at QVC. Operating cash flow for the business was flat, as a slight decline at QVC was offset by growth at Provide Commerce and Backcountry.com. The decline in the QVC business was attributed to the sale of lower margin items.

-- Liberty Capital revenues grew 4 percent in the quarter. Starz Entertainment grew by 3 percent in the year.

-- Assets held by Liberty in IAC (NSDQ: IACI), Expedia, News Corp (NYSE: NWS). and other non-strategic public firms fell in value to $15.6 billion from $18.2 billion as of the end of 2007. Since then Liberty has relinquished its News stake. On its IAC stake: “During the quarter, Liberty purchased 14 million shares of InterActiveCorp’s ("IAC") common stock from a single holder at a price of $24.25 per share. IAC also purchased 6 million shares of its common stock from the same holder at $24.25 per share. As a result of this purchase and IAC’s redemption, the shares owned by Liberty represent 30% of the equity and 62% of the voting power of IAC.”

-- With the conclusion of the News Corp.-DirecTV (NYSE: DTV) swap, the road is paved for yet another publicly traded Liberty share, the Liberty Entertainment tracking stock. It will begin to trade on March 4. As for what that will track: “Liberty’s interests in DIRECTV, three regional sports networks, Starz Entertainment, LLC, FUN Technologies, Inc., GSN LLC, WildBlue Communications, Inc, approximately $1.0 billion in cash and $551 million of Liberty Media’s (NSDQ: LINTA) publicly traded exchangeable debt. The businesses, assets and debt not attributed to Liberty Entertainment Group will continue to be attributed to Liberty Capital Group, which will retain its name and listing symbols.”

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