Mike Fries

Liberty Global has ‘strong turnaround plan’ for UPC Switzerland

Liberty Global’s struggling Swiss business remains “highly cash-generative” with attractive cash-flow, giving the company “strategic options” as the Swiss market “looks to consolidate and rationalise”, according to CEO Mike Fries. Speaking to analysts as the company posted its Q2 results, Fries said that Liberty had “a pretty strong turnaround plan for Switzerland” but that this […]

Liberty Global spurred by Virgin Media gains

Liberty Global reported financial gains and strong momentum at UK-based Virgin Media in its latest quarter, despite a loss of 11,500 video customers across its footprint. For the second quarter, revenue from continuing operations was up 2.7% year-on-year to US$3.05 billion (€2.63 billion), while operating income was up 31.0% to US$263.9 million thanks to higher […]

Malone confirms succession plan

The CEOs of John Malone’s companies will have the first right to acquire his controlling stock after he dies, the US cable magnate has told the Irish Times. Malone, speaking during Liberty Global’s annual overseas board meeting in Dublin, confirmed to the paper that “most of [his] long-time CEOs…have the first right” to acquire stock […]

Liberty Global unconcerned whether Fox or Comcast take control of Sky

Liberty Global is “not bothered” about whether 21st Century Fox or Comcast gains control of Sky in the UK, according to the international cable operator’s CEO Mike Fries. Speaking to CNBC, Fries said that Liberty both competed and partnered with Sky in the UK and said that the market was “healthy and vibrant” and competitive. […]

Vodafone deal is ‘incredibly positive’ for competition, says Fries

Liberty Global’s planned sale of its German unit to Vodafone is “an incredibly positive transaction for consumers and for competition” and there is no justification for claiming that it threatens competition, as Deutsche Telekom CEO Timotteus Höttges has done, according to Liberty CEO Mike Fries. Speaking to analysts after Liberty announced the deal and its […]

Liberty Global CEO: Convergent Europe trending towards ‘national champions’

Europe is trending towards “national champions” as convergence creates two or three service provider leaders in each market, according to Liberty Global CEO Mike Fries. Speaking at Deutsche Bank’s Annual Media, Telecoms and Business Services Conference, Fries said that it was Liberty’s goal to either be one of these ‘national champions’ or to enable one […]

Fries: Liberty Global will not ‘dismantle’ European business

Liberty Global has no intention of “dismantling” its European business and remains committed to growing its business in markets where it can achieve national scale, according to president and CEO Mike Fries. Speaking to analysts after the company reported mixed Q4 results, Fries said that Liberty remained committed to its core European markets. The cable […]

Liberty Global’s Fries: OTT and cord-cutting not a threat in Europe

OTT TV and cord-cutting is not a significant threat to network-based pay TV operators in Europe, in contrast with the US market, according to Liberty Global president and CEO Mike Fries. Speaking at Citi’s 2018 Global TMT West conference, Fries said that “Europe is not the US”, being still a “local market” with local national […]

Liberty Latin America set for independent life from end of year

Liberty Global’s Latin American and Caribbean arm is to become an independent company – Liberty Latin America – with shares trading on the NASDAQ Global Select Market from January 2. The ‘record date’ for the split-off has been set for December 26, with distribution of common shares to take place on December 29. Holders of […]

Fries: Liberty will be ‘buyer or seller’ in markets where it lacks scale

Liberty Global is likely to look at M&A opportunities at a national level primarily but its main focus is its platform and delivering value for shareholders, according to president and CEO Mike Fries. Interviewed on stage at the UBS Annual Global Media and Communications conference, Fries, asked about the potential for a merger with Vodafone […]

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