Five years of patience finally paid off Alex, haha. I just left a longer note on the original CMCSA open letter, but wanted to say here too...it's rare to see someone lay out a specific strategic ask to a CEO in public and then actually watch it happen. The interesting question now is whether the market gives Roberts credit for urgency or dings him for taking this long. My read is the RemainCo re-rate does most of the talking either way. Curious whether you think the two-year lockup makes NBCU a more aggressive buyer in the meantime...that's the piece I keep chewing on.
Five years of patience finally paid off Alex, haha. I just left a longer note on the original CMCSA open letter, but wanted to say here too...it's rare to see someone lay out a specific strategic ask to a CEO in public and then actually watch it happen. The interesting question now is whether the market gives Roberts credit for urgency or dings him for taking this long. My read is the RemainCo re-rate does most of the talking either way. Curious whether you think the two-year lockup makes NBCU a more aggressive buyer in the meantime...that's the piece I keep chewing on.
Thanks Simeon - sometimes a bit of patience is required!
Like yourself, I'm very interested to see what comes next.
- Alex