John Malone's Liberty Media Corp. reported a 20 percent gain in profit at its QVC home-shopping network and said it will buy back $1 billion of shares in its Liberty Capital unit.

Liberty Interactive reported QVC's fourth-quarter revenue rose 7 percent to $2.24 billion while its operating cash flow totaled $557 million. Fourth-quarter revenue at Starz Entertainment was up 4 percent to $257 million.

Liberty Media said it expects to launch the share offer within the next week to repurchase Liberty Capital common stock at $105 a share to $115 a share.

SPRINT NEXTEL The nation's third-largest wireless carrier said fourth-quarter profits rose 33 percent on stronger revenue.

• Fourth-quarter profit: $261 million, or 9 cents a share, compared with $195 million, or 7 cents, a year earlier. Earnings were one penny better than analysts expected.

• Revenue: $10.44 billion, up 6 percent from $9.79 billion, surpassing analysts' prediction of $10.39 billion.