Oh to be an investment banker these days - they must be stocking up on
champagne to celebrate the flurry of deals. Today's M&A activity
sees John Malone's Liberty Media purchasing 51% of Fun Technologies for
U$195 million. Fun is a private-label provider of online skilled games
and fantasy sports. The investment, which also includes a $50 million
cash injection, is more evidence large players (Yahoo, Google, AOL,
News Corp. Microsoft) are scrambling to position themselves for the
Internet's next economic gold rush. This is different, however, from
the dot-com days because the focus is on real businesses with profits
and sales - rather than popular Web sites that attract a lot of
traffic. Mind you, the hot deal-making market is also spurring on new
investment as no one wants to miss out on the action. Any
investment banker with a head on his or her shoulders has likely
compiled a list of takeover candidate that they are pitching to
prospective buyers. Bring on more bubbly, I say!
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John Malone Gets Into Online Gaming
by
Mark Evans
on Tue 22 Nov 2005 01:26 PM EST | Permanent Link
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