One of the World's Best Investors Just Upped His Big Bet on Discovery
One of the great media moguls of all time is John Malone. The 78-year-old former head of Telecommunications, Inc., is sometimes credited with shaping the entire cable television industry through the 1970s, '80s, and '90s, before selling TCI to AT&T in 1999. Malone was also profiled as one of eight all-time outstanding, yet unconventional CEOs, in William Thorndike's book The Outsiders.
These days, Malone, through his being chairman and the largest shareholder in Liberty Media (NASDAQ: FWONA), owns shares in a diverse media portfolio including Charter Communications, TripAdvisor, Sirius XM, GCI Liberty, and several others. In addition, Malone himself also owns large stakes in several stocks personally, including one that he just increased in a big way: Discovery, Inc. (NASDAQ: DISCA) (NASDAQ: DISCB) (NASDAQ: DISCK).
This is Malone's third major purchase of Discovery shares in the past two years. So, what has Malone so bullish on this underrated media stock?
Source Fool.com
