Liberty Media chairman John Malone slammed AT&T, praised Reed Hastings and affirmed his faith in the Warner Bros. Discovery team led by David Zaslav amid the drama and red ink of today’s streaming wars. “At the moment, there is a lot of blood flowing down the gutters of people who are streaming.
Some of them can afford it, and some of them can’t. So my guess is the ones who can’t will ultimately have to look for some kind of consolidation or exit,” said Malone during a Q&A at the end of Liberty Media’s annual investor day in NYC.
It’s one of the rare, regular public appearances for the savvy longtime media investor, a major shareholder of Discovery and now of WBD.
One question: What makes him confident the merger will be a success and not “an LBO [leveraged buyout] gone bad?” The company missed expectations last quarter on slow advertising and high mergers costs. “One thing that gives me confidence is the management.
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