Discovery, John Malone, Liberty Media, Lionsgate

Discovery, John Malone

Discovery Shares Rise After John Malone Boosts Stake Via $75M Stock Purchase

Discovery shares rise after John Malone boosts stake via $75M stock purchase


Discovery shares rise after John Malone boosts stake via $75M stock purchase

Discovery shares rose nearly 4% to $30.77 in mid-day trading Monday on news that the company’s largest individual shareholder, billionaire John Malone , has increased his stake in the company.…

An SEC filing revealed that Malone acquired more than 2.6 million in new shares, at $28.03 apiece. While that was enough to move the stock, given the strategic import of Malone’s investments in general, it is also a tiny fraction of the company, whose market capitalization is about $15.5 billion.

Globally, Discovery operates direct-to-consumer streaming outlets, but has preferred to distribute through partners in the U.S. CEO David Zaslav has emphasized his belief that the company has a content offering too desirable to be overlooked. The company will prevail, he has asserted, by continuing to deliver compelling programming across categories such as lifestyle, nature and targeted sports verticals including golf and cycling.

boosted Discovery shares by double digits. They have since been trading in the $30 range.

Read more: Deadline Hollywood

John Malone Boosts Stake in Discovery With $75 Million Stock Purchase John Malone has upped his stake in Discovery Inc. by purchasing $75 million worth of stock on the open market. Malone picked up just under 2.7 million shares in Discovery at $28.03 on Nov. 14, acco…

Liberty Media's John Malone Buys $75M in Discovery StockAfter recently selling his remaining stake in Lionsgate , billionaire investor and media mogul John Malone has acquired more stock of Discovery in what is believed to be his largest or one of his largest open-market purchases of the stock ever.

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