John Malone, the billionaire media mogul who is a longtime stakeholder in Discovery, said its pending merger with WarnerMedia will incur debt but will make up for it in cost savings.“Leverage is relatively high for this [merged] company, but interest rates are quite low,” he told Liberty Global CEO Mike Fries, when asked about leverage. “This is investment-grade debt, long-term.
The rate at which free cash flow will pay down that debt as well as the synergies” will help satisfy investor concerns, he added.Liberty Global is among several firms and assets controlled by Malone, including Liberty Media, Formula One, baseball’s Atlanta Braves and SiriusXM.
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