Some see e-readers as the poor cousin to more glamorous tablets, but that may soon be about to change. Billionaire media mogul John Malone, whose Liberty Media owns DirecTV Group and the QVC shopping channel, may be interested in buying the Barnes & Noble chain specifically for its Nook e-reader, according to a person familiar with the company’s thinking behind the deal.
It’s day three of the Sun Valley media conference and the event has started to feel like a Jane Goodall documentary, in which we’re Jane and the moguls are the apes who have become comfortable letting us observe and record their movements. Several media executives groggily making their way to the morning’s first session (scheduled to kick off at 7:30), stopped to chat with the throng of press waiting to greet them.
Allen & Co’s Sun Valley media and technology conference forbids journalists from attending the morning sessions that executives and other media power players attend before they go out to play and talk about deals in the afternoon. That means the last, best hope they have is to get the low-down from a journalist who was invited.
Ah the media, we love a ruckus. We really do. And when the two pugilists are characters as colorful and savvy as Dish Network’s founder Charlie Ergen (left) and Siriux XM Satellite Radio CEO Mel Karmazin (right) we do really get excited.
So after two weeks of following all the twists and turns of Sirius XM’s attempts to avoid bankruptcy, CEO Mel Karmazin decided on John Malone, founder of Liberty Media, to come in as Sirius XM’s white knight with a $530 million loan . The loan will cover the satellite radio provider’s looming debt and help it avoid bankruptcy. As part of the deal Liberty will eventually take a 40 percent stake in Sirius’ equity.
Cash is king for the New York Times right now.
The media world has been swirling with talk about the company looking to sell The Boston Globe and its stake in the Red Sox. Now comes news that the company has told securities regulators that it may sell shares or other securities to raise cash.