Given the mention of Malone/Liberty ..... is Qurate (QRTEA) a possible comparable to SKT? - Similar industries - Both generate tons of FCF - Melting ice-cube type businesses (for SKT this depends on mgmt decisions going forward)
Qurate management has been very generous in returning cash to shareholders recently through buybacks and giant dividends (which got holders a huge % their cost base out if they bought in the depths of COVID last year!)
If SKT cash can be deployed to grow/improve the business, I'm happy for management to keep half and return the other half to shareholders [agree with your posts on S/T mistaTea, buyback FOLLOWED by dividends please ] If SKT can't deploy the cash to generate a reasonable return on funds and is not willing/interested in a merger/takeover, I'd like for most of it to come back to shareholders
I would feel better if SKT management/board members had higher holdings in the company, much like the Liberty crew have in their holdings. There is a reason that Malone was in the Outsiders: he's a capital allocation genius who has benefited from skin-in-the-game
Maybe Klogg is right: Discovery should buy SKT so we can be part of the Malone universe!
Disclosure: no current holdings in Liberty-linked enterprises but I follow most of them
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