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
“One thing that gives me confidence is the management. I have enough confidence in [WBD CEO] David Zaslav and his guys, having seen the integration of Scripps with Discovery a couple of years ago,” Malone said.Third, “even in its absolutely worst year, it is generating a 10% cash return on its equity value.
“Let’s face it. Everybody went through this mad Oklahoma land rush. I am not going to call AT&T management fools, but they certainly … threw everything but the kitchen sink at it and put the run rate of the business in a little bit of stress,” he said of Warner Media’s previous parent. “As long as there is competition between distributors, sports will continue to have a disproportionate market power,” he said.Malone called that streamer a “foundational service” and said “Reed Hastings’ shareholders should build him a huge monument…He got out in the lead saw the opportunity, and exploited the opportunity and went for scale.” Netflix was there early and does an excellent job.
Zaslav’s total pay package came to more than $246 million for 2021, inflated by an option grant valued at an eye popping $202 million. But the options require the stock to hit certain metrics over seven years before they’re in the money. Discovery shares were at $23 when the package was announced and would have needed to hit $35, for instance, for the first tranche to be exercised. It hasn’t been a great run and the shares closed today at just under $11.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Liberty Media to Split Off Atlanta Braves, Create Liberty Live Tracking Stock With Live Nation Stake“These actions will provide greater investor choice and enable targeted investment and capital-raising through more focused currencies, while maintaining an optimal capital structure for Liberty Media and preserving optionality with respect to our subsidiary SiriusXM and our Live Nation stake.”
Read more »
John Malone says he's skeptical of ad-supported content as Netflix, Disney roll out ad tiersLiberty Media Chairman told CNBC he's doubtful that adding commercials to long-form streaming content would help media companies be successful in the long run.
Read more »
Liberty Media Is Splitting Off Atlanta Braves Into New Public CompanyJohn Malone’s Liberty Media is splitting off 2021 World Series champions the Atlanta Braves Baseball Club and related assets into a separate public company “to better highlight its strong value.” A…
Read more »
Liberty Media CEO blames demand from 14 million users, including bots, for Taylor Swift Ticketmaster fiasco14 million people, including bots, hit the Ticketmaster site when Taylor Swift tickets went on presale, Live Nation chairman Greg Maffei tells davidfaber. 'Despite all the challenges and the breakdowns, we did sell over 2 million tickets that day.'
Read more »
Utah Sen. Mike Lee warns religious liberty protections in same-sex marriage bill are 'severely anemic'Ahead of a Senate vote, Utah Republican Senator Mike Lee says the religious liberty protections in the Respect for Marriage Act are 'severely anemic.'
Read more »
Roadway named after Tuskegee Airman Colonel Lawrence Roberts at Newark Liberty International AirportTuskegee Airman Colonel Lawrence Roberts, father of Good Morning America anchor Robin Roberts, is honored by Newark Liberty International Airport.
Read more »