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John Malone

John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit

A seven-year old lawsuit alleging billionaire John Malone was illegally compensated through a side deal in Charter’s 2015 acquisition of Time Warner Cable has settled for $87.5 million. A proposed deal filed on Friday in a Delaware court notes that the money will be paid to Charter. Malone and other defendants named in the suit […]

Billionaire Investor John Malone’s Streaming Wars Update: “There’s a Lot of Blood Flowing Down the Gutters”

John Malone, a major investor at Warner Bros. Discovery, says the streaming world is hobbled by too many competitors, and that online video giants will do better after inevitable industry consolidation. “At the moment, there’s a lot of blood flowing down the gutters, of people who are streaming, and some can afford it and some […]

Liberty Media Unwinds SPAC, Citing No Targets for Takeover

Liberty Media Acquisition Corp., a special purpose acquisition company (SPAC) launched by John Malone’s Liberty Media a couple of years ago in hopes of finding at least one takeover target, has taken a key step towards closing down the financial vehicle. On Monday, a virtual special meeting of stockholders voted in favor of the move by […]

Formula One, Live Nation and SiriusXM Bolster Liberty Media in First Quarter

Liberty Media, the holding company controlled by John Malone which includes SiriusXM (and its Live Nation subsidiary), Formula One and the Atlanta Braves baseball team, reported solid first-quarter earnings on Friday, bolstered by SiriusXM and “record-breaking demand” for Live Nation events. Liberty posted revenue of $2.19 billion in Q1, with an operating income of $484 […]

Charter CEO Tom Rutledge’s Pay Rises to $41.8M in 2021

Charter Communications chairman and CEO Tom Rutledge received compensation worth $41.8 million in 2021, just up from $38.8 million in 2020 and $8.74 million in 2019. An SEC filing issued Thursday by Charter, in which John Malone’s Liberty Broadband owns a big stake, indicated Rutledge’s base salary for 2021 was $2.5 million, a bump up […]

Discovery Shareholders Approve WarnerMedia Merger

Discovery shareholders have formally approved the mega-combination of the factual and lifestyle media powerhouse with AT&T’s entertainment division WarnerMedia, setting the stage for the merger to close in the coming weeks. “Based on estimated preliminary voting results, Discovery stockholders voted to approve the charter amendment proposals, share issuance proposal and the advisory (non-binding) compensation proposal,” […]

Liberty Media Swings to Fourth-Quarter Operating Profit, Touts Live Nation Outlook

Liberty Media, the company controlled by billionaire mogul John Malone that houses assets like audio entertainment giant SiriusXM, the Atlanta Braves baseball club and the Formula One racing circuit, reported improved fourth-quarter financials Friday. And it touted the outlook for live events giant Live Nation Entertainment. Quarterly revenue at the Atlanta Braves nearly tripled from […]

“The Streaming Business Is War”: An Excerpt From HBO Oral History ‘Tinderbox’

It’s hard to imagine a cash crunch involving mega meta AT&T, but that’s exactly what was going on at WarnerMedia in 2020 and 2021. The crunch required adjustments to be made to HBO Max planning, and the big question that had been asked since AT&T had taken over in 2018 — whether its streaming service […]

John Malone: Discovery-WarnerMedia Synergies Will “Easily” Exceed $3B-$4B Annually

As the $43 billion deal awaits regulatory approval, billionaire media mogul John Malone is touting the planned megamerger of Discovery and AT&T’s WarnerMedia. Speaking during the Paley Center’s Paley International Council Summit, which was webcast Tuesday, the chairman of Liberty Media and Liberty Global and biggest Discovery shareholder said there were challenges in such big […]

SiriusXM Adds 616,000 Paying Subscribers in Third Quarter

Audio entertainment giant SiriusXM, the home of Howard Stern, said  Thursday that it added 616,000 self-paying subscribers in its satellite radio unit in the third quarter, beating the 169,000 additions recorded in the same period in 2020 and exceeding its full-year growth target nine months into the year. The company lost 59,000 net self-pay subscribers […]

Charter’s Ad Revenue Soars, CEO Outlines ViacomCBS Streaming Deal

Cable operator Charter Communications, in which John Malone’s Liberty Broadband owns a big stake, lost pay TV subscribers in the second quarter, while its broadband business kept growing. Charter lost 63,000 residential pay TV subscribers in the second quarter, compared with a gain of 102,000 in the year-ago period. Including the addition of 13,000 small- […]

Liberty Global CEO Michael Fries’ 2020 Pay Falls to $44.9 Million

The head of John Malone's international cable giant, which owns Virgin Media, earned $123.2 million in 2019, mostly from stock awards.