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The FAANGs are ‘fabulous’ says Liberty Media chairman

John Malone said traditional media companies need to 'adjust their positioning'

John Malone, chairman of Liberty Media and Liberty Global, has described the platforms built by the FAANG companies as “fabulous” and praised the way the companies have changed the media landscape.

Speaking at a conference in Sun Valley, Idaho, Malone told the audience: “They’ve changed the world. They’re the disruptors now. We were the disruptors in our youth,” he said referring to the US cable industry.

“We have to figure out how to position ourselves to adapt to a changing world that they’re changing. You’re not going to fight ‘em. You better accept them as a fact and then adjust your positioning,” he said.