Liberty Media Corporation is a holding company that, through its subsidiaries, is engaged in the video and online commerce, media, communications and entertainment industries. The Company operates in North America, South America, Europe and Asia. Its principal businesses and assets include QVC, Inc. and Starz, LLC and interests in The DIRECTV Group, Inc. and Expedia, Inc. Liberty has attributed each of its businesses to one of three groups: the Interactive Group, the Entertainment Group and the Capital Group. The assets and businesses attributed to the Interactive Group are those engaged in video and online commerce. The Entertainment Group focuses primarily on video programming, communications businesses and the direct-to-home satellite distribution business and includes its ownership interest in The DIRECTV Group, Inc. and other subsidiaries. The Capital Group includes businesses and assets that are not attributed to either the Interactive Group or the Entertainment Group.