Liberty Media’s John Malone continues to be bullish about dwell occasions
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“I believe the thesis of dwell occasions continues to be one,” Malone mentioned throughout Liberty Media’s annual assembly of stockholders Thursday. “Human beings are gregarious by nature. And I can inform you right here in Florida, the bars are open they usually’re fairly packed. So… we’ll see.”
Malone is an icon within the media and cable industries, who constructed cable empire TCI within the 1970s earlier than promoting it to AT&T in 1999 for roughly $50 billion. Liberty Media Company operates and owns pursuits throughout the media, communications and leisure companies, together with stakes within the Atlanta Braves baseball group and live performance producer Stay Nation.
Malone mentioned he believes there can be a remedy and or a vaccine for Covid-19 “sooner moderately than later that can get us again nearer to regular.”
“There’s undoubtedly going to be a hangover when it comes to valuations and like the whole lot else if this despair in valuation is extreme, it presents alternative for these of us who imagine within the longer-term thesis that this can be a good place to be, dwell occasions,” he mentioned. “Significantly the place you might have a considerable a part of the income that has little to do with the gate attendance and quite a bit to do with tv and digital distribution.”
Greg Maffei, who serves as Liberty Media’s president and CEO in addition to the chairman of Stay Nation Leisure, Sirius XM and TripAdvisor, mentioned the corporate has seen proof that there is nonetheless demand for dwell occasions. He mentioned “effectively beneath” 10% of live performance prospects have requested of refunds on postponed concert events, and talked about there are some Atlanta Braves ticketholders which have deferred tickets as a substitute of asking for refunds.
“There’s demand for dwell occasions,” he mentioned. “The query can be what can we do on this planet of vaccines and therapeutics and social distancing to verify these work for everyone concerned, safely.”