Cash Is King

John Malone, the media mogul living in Colorado, has cash. That makes him king.
According to The Wall Street Journal, Malone used that cash to swoop in at the last minute and save Sirius XM from the clutches of bankruptcy.
Liberty_holdings.gif
By lending Sirius $530 million, Liberty receives a 40% stake in the satellite-radio operator, plus at least two board seats. The loan will also bear an interest rate of 15%.
A cable executive for nearly three decades of his career, Mr. Malone developed a reputation for driving hard bargains, often structuring complex financial transactions to take advantage of distressed situations.
He has collected an assortment of businesses under the Liberty umbrella, including home-shopping network QVC, the Atlanta Braves baseball team and a 30% stake in Ticketmaster.

FacebookTwitterGoogle+PinterestLinkedInRedditStumbleUponEmailDiggShare
About David Burn

Native Nebraskan in the Pacific Northwest. Brand builder at Bonehook. Co-founder and editor of AdPulp. Contributor to The Content Strategist. Believer in Gossage, Bernbach and Clow. Doer of the things written about herein.