Saturday, June 08, 2013

Malone's Liberty Global - Now the worlds largest cable TV provider

Yesterday U.S. cable pioneer John Malone's Liberty Global officially closed it acquisition of British cable provider Virgin Media for $24 billion cash and stock. The deal expands Liberty Global's total subscriber count to 25 million customers in 12 countries in Europe now bigger than Comcast Cable which counted 22.3 million subscribers at the end of the first quarter.

Malone, is also looking to boost profits from U.S. cable systems. In March, Liberty Media agreed to pay $2.62 billion for a 27.3 percent stake in Charter Communications. That deal also gave Malone and three of his Liberty lieutenant’s seats on Charter's board of directors. I sure it's also no coincidence that Charters top brass consists of some of the cable industries best and brightest and I have no doubt they will be jumping at the chance to drive consolidation in the U.S. cable industry. I’m sure it will not be long before we hear much more from Liberty and Mr. Malone in the future.