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Industry: Email Alert RSS FeedAllen's big stretch.
Broadcasting & Cable, March, 1999 by Higgins, John M.
In `Wired World' quest, prices force billionaire to risk unusually high level of equity Microsoft co-founder Paul Allen is paying such extraordinary prices for cable systems--far more than financial players are willing to lend-that he is risking a huge slice of his fortune to finance his foray.
According to new financial disclosures that paint the first picture of Allen's ballooning cable empire, he has personally put up about $4.6 billion to finance the $10.6 billion wave of cable acquisitions for his Charter Communications Inc. That ties up 20% of Allen's estimated $22 billion fortune, making cable his single largest financial commitment. Allen's $4.6 billion investment represents a far higher level of equity than is common in the cable...
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