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Malone’s Biggest Mistake: Not Buying Netflix

Cable legend John Malone said his biggest mistake of the past several years was not going after subscription video on demand pioneer Netflix.

“I would say the biggest one in the last few years was not going hostile on Netflix when we identified it as being very undervalued,” Malone said during the Q&A portion of Liberty Media’s annual investors day meeting in New York.

Liberty CEO Greg Maffei chimed in, adding the reason Liberty didn’t buy a large stake in Netflix at the time was that it owned premium channel Starz and feared a Netflix buy would jeopardize the channel’s negotiations with cable operators.

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