Liberty’s John Malone Sees Few Big Media Deals in Offing

Despite attractive potential purchase prices (courtesy of depressed stocks) Liberty Media Corp. Chairman John Malone sees few opportunities to make strategic purchases “in the communications and media space.”  The credit crunch is one reason.  But perhaps a bigger obstacle is that many of these companies are controlled by private equity groups and families, who are not obliged to sell even at a premium price.  “Some of these things may prove cheap for an investor for taking a position, but not necessarily strategically are these assets available…”  The renowned deal-maker suggested that the current down period in the business cycle is a good time to “mind your knitting.”  Reuters Sept. 26, 2008