Greg Maffei, ex CFO of both Oracle and Microsoft, has made his first move as CEO of Liberty Media. He and John Malone (Chairman) have made their first foray into the increasingly lucrative market for online games by buying a 51% stake in Fun Technologies for $195M.
Fun, which is listed in Toronto and London, specialise in online versions of skill games such as solitaire, chess and Sudoku. It seems that online skill games are growing as fast as online gambling with players rising at an astonishing rate of 30% per quarter.
Expect this to be the first of a few acquisitions by Liberty Media in the growing online games market. My guess is that Greg Maffei and John Malone will prove to be a compelling and successful team together. Liberty Media should have an exciting future.
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