"..possibly pave the way for another major acquisition - that of a sizable cable or satellite company - to create a vertically integrated business. Morgan Stanley's analysts note that: 'In effect, Liberty would be reverse engineering into the structure of the original TCI before Liberty was spun off.'
This would represent a monumental volte face for Malone. His New Age strategy and McKinsey thinking would have all been for nought. Far from being the freewheeling deal-making machine of its youth, Liberty would be a much more sober proposition. Malone would back where he began.."
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Is this decade-old (2003) analysis still relevant? From http://www.theguardian.com/business/2003/jul/06/theobserver....
"..possibly pave the way for another major acquisition - that of a sizable cable or satellite company - to create a vertically integrated business. Morgan Stanley's analysts note that: 'In effect, Liberty would be reverse engineering into the structure of the original TCI before Liberty was spun off.'
This would represent a monumental volte face for Malone. His New Age strategy and McKinsey thinking would have all been for nought. Far from being the freewheeling deal-making machine of its youth, Liberty would be a much more sober proposition. Malone would back where he began.."