Greg Maffei (Liberty complex) at Morgan Stanley Conference

[netnet]

Here are Greg Speicher's notes

• Formula 1: great international sports franchise; 400 million+ TV audience; many parts of the business are under-exploited such as sponsorships.
  
• Chase Carey is a great manager who has brought on some top-tier talent to round out the management team.
  
• Race calendar is locked in for 2017 and probably 2018. Sponsorship has the most potential for near-term improvements.
  
• The races need to be more interesting. This will take some time.
  
• They think the opportunity is bigger than they first thought.
  
• Teams have an interest in a more balanced league will make the product more compelling.
  
• Best TV deal is in the U.K. There is a lot of potential to improve the TV deal in the U.S.
  Liberty Sirius XM.
  
• Pandora is way under monetized. The subscription streaming business does not have very good economics.
  
• The free radio market is still a $16 billion market. Perhaps Pandora could help Sirius to go after some of that money.
  

 

The rest of the notes is at http://gregspeicher.com/?p=4748

To listen to it yourself here: https://cc.talkpoint.com/morg007/022717a_as/?entity=29_8S8DC40