Malone buys more Discovery shares
November 19, 2019 14.34 Europe/London By Chris Dziadul
John Malone has invested around $75 million in Discovery stock.
Quoting a regulatory filing published this Monday, November 18, Billboard reports that last Thursday, November 14 he acquired 2.67 million Discovery Class C for $28.03, thereby boosting his Class C stock to nearly 12.2 million.
It adds that Malone has until now held a 3% economic stake in Discovery.
Although last week’s acquisition was non-voting stock, his economic stake in the company stands at around 23% thanks to super-voting shares.
Following on from the sale of its assets in Germany, Hungary, the Czech Republic and Romania to Vodafone, Malone’s Liberty Global has begun to expand outside Europe through the acquisition of AT&T’s operations in Puerto Rico ands US Virgin Islands.
The media mogul also recently completed the sale of his remaining shares in Lionsgate.