Despite harsh economic conditions, the door to dealmaking remains wide open as billionaire executives such as Liberty Global CEO Mike Fries look for advantageous opportunities at this year’s Allen & Co. Sun Valley Media Conference. Fries is focused on “growing and executing” across Liberty Global — which oversees business in mobile, broadband and media content sectors — as financial storm clouds gather on the industry’s horizon.
Of course, it helps that Liberty is sitting on $4 billion in cash which provides some much-needed flexibility to maneuver in uncertain times.
“We’re always open-minded on the M&A front as both buyers and sellers if it makes sense” Fries told CNBC.