Latest From Sun Valley: Media Moguls Talk Shifting Streaming Priorities, Frugality in Uncertain Times

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What the billionaire executives are saying from the Allen & Co. conference about the deal-making market and future industry moves

David Zaslav Sun Valley Media Conference
Warner Bros. Discovery CEO David Zaslav attends the 2022 Sun Valley Media Conference. (Photo by Kevin Dietsch/Getty Images)

Despite harsh economic conditions, the door to dealmaking remains wide open as billionaire executives such as Liberty Global CEO Mike Fries look for advantageous opportunities at this year’s Allen & Co. Sun Valley Media Conference. Fries is focused on “growing and executing” across Liberty Global — which oversees business in mobile, broadband and media content sectors — as financial storm clouds gather on the industry’s horizon.

Of course, it helps that Liberty is sitting on $4 billion in cash which provides some much-needed flexibility to maneuver in uncertain times.

“We’re always open-minded on the M&A front as both buyers and sellers if it makes sense” Fries told CNBC.