Looks like Carl Ichan is convinced that Netflix is in play. Ichan converted his options into actual stock - a move that will allow him to better leverage his just under 10% stake in the company in any proxy battles.
The article mentions Amazon, Microsoft and Verizon as potential suitors. I've said it before that of those three Verizon makes the most sense since they are trying to build a Netflix-light with their Redbox Instant venture as it is. Why not spend $4 billion for the real thing?
I would also mention a company like Level 3 as a potential suitor. Reed Hastings the CEO wants to keep Netflix independent. A Level 3 ownership could allow Netflix to be a wholly-owned subsidiary and at the same time give Hastings that independence as long as he uses Level 3 pipes.
It looks to me that Ichan's strategy is to force Hastings to find a suitor of his liking to prevent a takeover being forced upon him. Either way Ichan will win. Either way - Netflix is in play.
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