Baron Funds Comments on Liberty Media Corp

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May 29, 2014

Liberty Media Corp. (LMCA, Financial) shares declined 11% in the first quarter due to uncertainty regarding the company's potential acquisition of Sirius XM and Charter's potential bid for Time Warner Cable. Liberty has since rescinded its offer to buy out Sirius XM. We expect Liberty stock performance to improve going forward, based on expected appreciation in 50% owned Sirius shares, which should benefit from a material stock repurchase program along with strong fundamentals.

From Baron Funds' first quarter 2014 commentary.