What's your opportunity cost of not listening to this John Malone interview? What exactly is your second best opportunity? Be specific. https://www.cnbc.com/video/2018/11/14/watch-cnbcs-full-exclusive-interview-with-liberty-media-chairman-john-malone.html …
Greg Maffei in a paired interview today talks about the value of unscripted content: https://www.cnbc.com/video/2019/11/21/watch-cnbcs-full-interview-with-liberty-media-ceo-greg-maffei.html?&qsearchterm=maffei … Greg's comment is meta since the interviews of him and Malone are unscripted content. CNBC fails to fully capitalize on the opportunity by not providing a transcript.
Transcript is here though:
MALONE: "who is going to be around and strong five years from now? Disney and Netflix. Disney because they have terrific content and tons of it and a great brand globally [but] their challenge is to get people’s credit cards. https://www.valuewalk.com/2019/11/liberty-media-john-carl-malone-cnbc/ …
MALONE: A "distribution strategy of essentially anybody who buys anything from Apple gets a free trial for a year. Apple already has their credit card. You start with 460 million consumer relationships. And you give them something for free. And they get to use it for a year."
MALONE: "Discovery's generating ~$3B a year in leveraged-free after-tax cash. When I looked at companies based upon market cap versus leveraged-free cash flow, they were the cheapest thing on the screen."
"LEVERAGED FREE CASH FLOW!" Not earnings. CREAM!
Malone: "Video margins for US cable distributors are thin and getting thinner as more re-trans pressure/sports pricing pressure. Margins improve as you lose video customers and you become less capital intensive. Cap ex goes down and leveraged free cash flow goes up."
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