John Malone, the chairman for Liberty Media Corp, may be the most popular billionaire roaming around the Sun Valley Resort. This was after the annual gathering of media and tech moguls was scheduled and Malone's acquisition deals returned to the spotlight. Malone is responsible is solely buying and selling his acquired media companies for decades.
John Malone is also known as the King of Cable. The 72 year old executive along with 300 others were expected to join the gathering last Tuesday until Friday in Idaho. The meeting's host was Allen & Co., a New York based investment bank. The host held a history of launching landmark media deals such as Comcast's acquisition of NBCUniversal in 2009. However, the investment bank remained quiet in the recent years.
Malone jumped back into the US cable market after Liberty Media's acquisition of a 28% stake in Charter Communications earlier this year. According to analysts, a wave of cable consolidation will make a wave this year. This was after the US cable TV market matured and faced rising programming costs as well as technology threats from upstarts.
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