Malone buys stake in Caribbean cable MSO Columbus International
Liberty Media (Nasdaq: LMCA) chairman John Malone bought an equity stake in Columbus International, which owns cable systems in the Caribbean, Central America and the Andean region, the company said Tuesday.
Rather than acquire the Columbus stake through Liberty Global (Nasdaq: LBTYA), the international cable system operator that is controlled by Malone, Columbus said Malone made the investment in a "personal capacity." Malone is a cable pioneer who began acquiring international cable systems after selling Tele-Communications Inc. (TCI) to AT&T Broadband in 1999. Comcast (Nasdaq: CMCSA) bought AT&T Broadband in 2001.
Malone is now the largest minority investor in Columbus, which didn't say how much he paid for his stake, or detail what percentage of its shares are controlled by Malone.
"Having a high-caliber investor in Dr. Malone join the Columbus family is an achievement for which we are both extremely proud and excited," Columbus CEO Brendan Paddick said in a prepared statement.
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