Media

Malone out of cable mix, but remains relevant

What’s next for John Malone and Liberty Media?

“They lost an opportunity to be part of cable consolidation and benefit directly,” said FBR Capital’s Barton Crockett, a longtime Liberty watcher.

“They always have lots of options — I’d throw out there are lots of possibilities,” Crockett added.

For instance, Liberty could sweeten its offer to Sirius shareholders to make more palatable its suggestion of bringing the whole thing in house, or perhaps acquire more of concert promoter and ticket-seller Live Nation.

Liberty Media could also do buybacks or increase its stake in Charter Communications, as that cable company considers other cable takeover targets.

Charter, based in Stamford, Conn., could also go after Cablevision or Cox.

Malone currently holds a 27 percent stake in Charter, which fell 6.3 percent, to $128.91, Thursday.

Liberty Media rose 0.3 percent, to $133.39, while Sirius lost 1.4 percent, dropping to $3.51.

With two potential acquirers now out of the mix, Cablevision lost 2.8 percent, to $16.41.