Gabelli Media Mogul Nextshares (MOGLC) - Portfolio Manager Christopher Marangi

4-3-2018 Update - Gabelli Media Mogul Nextshares (MOGLC) - Gabelli Portfolio Manager Christopher Marangi

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Transcript: Hi, I’m Chris Marangi, Portfolio Manager for the Gabelli Media Mogul Fund, an exchange traded managed fund that actively invests in companies upon which media mogul John Malone has his fingerprints.
The first quarter of 2018 was a busy one for Dr. Malone and was highlighted by the completion of the spin-off of Liberty Ventures, now known as GCI Liberty… symbol G-L-I-B-A
“GLIBA” consists of four primary assets:
- a 24% stake in another Liberty entity called Liberty Broadband which owns 20% of Charter Communications, the #2 cable operator in the US;
- a 2% direct stake in Charter;
- 27% of LendingTree and
- 100% of General Communications, the cable and wireless provider in Alaska
Marking those assets to market and subtracting GLIBA’s debt results in a net asset value of $62 per share. Relative to GLIBA’s current $52 price, you are creating those assets for $0.83 on the dollar.
Looked at differently, by purchasing GLIBA you are effectively buying Charter for $230, a 25% discount to its $309 price.
In addition to benefitting from the appreciation of Charter’s price through its broadband-driven cash flow and its potential to be acquired, GLIBA owners should see its discount narrow via share repurchase and an eventual merger of GLIBA and Liberty Broadband.
Of course, purchasers of Media Mogul also gain exposure to this and other attractive Malone situations.
For more please visit us at Gabelli.com or call 1-800-GABELLI.



Source: Gabelli TV (via YouTube)
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