Stifel Nicolaus Maintains Hold on Liberty Media

Stifel Nicolaus is out with its report today on Liberty Media LSTZA, maintaining Hold. In a note to clients, Stifel Nicolaus writes, "On Friday (June 17), Netflix disclosed that it has pulled Sony theatrical product from its streaming service pending a contract dispute/issue between Starz, which sub-licensed the streaming rights to Netflix, and Sony. While the loss of Sony product on the service may in fact allow them to seek a license fee reduction from Starz, as the product is not available, it is clear that in order to resume service, which is in Netflix's interest, Netflix will likely have to renew with Starz under much higher terms sooner than the 1Q12 contract expiration. We continue to rate Liberty Starz with a Hold rating and $80 fair value estimate." Shares of LSTZA closed Friday at $71.79.