Bill Gates, the founder and technology advisor of Microsoft Corporation (NASDAQ:MSFT) disclosed that he collectively owns 10,855,524 shares or a 5.1% stake in Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA) as of April 30, 2014 based on a schedule 13G filing with the Securities and Exchange Commission (SEC).
Bill Gates stake In Liberty Global Class A Shares
The filing showed that Cascade Investment L.L.C., the investment management firm controlled by Bill Gates and managed by Michael Larson beneficially owns 8,736,009 shares or a 4.1% stake and the Bill and Melinda Gates Foundation Trust beneficially owns 2,119,515 shares or a 1% stake in Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA).
Cascade Investment’s stake in Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA) is beneficially owned by Gates. All of the Class A shares owned by Bill and Melinda Gates Foundation Trust in the company are beneficially owned by Bill and his wife Melinda as co-trustees of the trust.
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Liberty Global joint venture
Liberty Global plc recently announced that it had entered a 50-50 joint venture with Discovery Communications Inc. (NASDAQ:DISCA) to acquire All3Media from its founders and Permira funds at an enterprise value of £550 million or approximately $930 million.
All3Media is the largest independent production group in the United Kingdom with 26 creative centers in the largest TV producing markets worldwide.
Under the terms of the agreement, Discovery Communications Inc. (NASDAQ:DISCA) and Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA) Class B Ordinary Shares (NASDAQ:LBTYB), Class C Ordinary Shares (NASDAQ:LBTYK) will maintain All3Media’s creative independence and concentrate on serving its global broadcasting partners. It will operate as a standalone entity, independently managed by its own executive management team.
Liberty Global quarter financial results
Last week, Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA), Class B Ordinary Shares (NASDAQ:LBTYB), Class C Ordinary Shares (NASDAQ:LBTYK) posted its financial results for the first quarter of 2014.
According to the company, its operating income rose 10% to $582 million and revenue was $4.5 billion, a 2% increase in rebased growth. Its operating cash flow was $2.1 billion, which represents a rebased growth of 8%, while its adjusted free cash flow rose 47% to $350 million during the quarter. Its RGUs were 49 million.
Liberty Global’s CEO Mike Fries commented that the company is “off to an excellent start this year with robust subscriber and cash flow growth.”