Published on Nov 30, 2016
Gabelli Portfolio Manager Christopher Marangi introduces the Gabelli Media Mogul Nextshares.
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Hi, I’m Gabelli Funds portfolio manager Chris Marangi and I’m excited to share with you our latest offering, the Gabelli Media Mogul Nextshares, symbol M-O-G-L-C
The Fund will invest primarily in the media, communications and technology companies associated with Dr. John Malone.
Dr. Malone is a legend in the telecommunications industry, having built TCI into the world’s largest cable company before selling to AT&T in 1998. But at that point John was just getting started.
In 2001 AT&T spun-off a collection of TCI’s content and non-US cable assets as Liberty Media with John at the helm. With the help of former Microsoft CFO Greg Maffei, Liberty has executed 8 spin-offs and 6 tracker stock issuances resulting in that one investment in Liberty Media becoming an interest in 14 companies with over $100 billion in market cap. Including the 16 public companies in which Liberty is currently invested brings the aggregate market cap – the target universe for our Fund – to over $340 billion. We certainly would not expect Malone and his team to stop there. Media is an extremely dynamic industry and Liberty is likely to be at the forefront of new developments. While past performance is never a guarantee of future success, we at Gabelli have followed Malone and the media industry for forty years and we think we have distilled Malone’s Magic Formula:
1) Invest in quality businesses within Malone’s core competency (media)
2) Recruit & retain top talent to run those companies: Greg Maffei, Mike Fries, Tom Rutledge, David Zaslav, Chase Carey, Mike George, and Jim Meyer are just a few of his all-star managers
3) Synchronize the assets with the right capital structure
4) When it comes to taxes – pay less and pay later
The Media Mogul bottles up that magic formula by giving investors access to the Malone investment universe with one purchase. And that purchase also comes with all the benefits afforded by the low-cost and tax efficient of the new NextShares exchange traded managed fund format. We’d love to have you along for this journey. For more information please visit Gabelli.com or call us at 1-800-Gabelli. Thank you.