John Malone on his long friendship with Rupert Murdoch: He was a gentleman, even when I blindsided him by suddenly raising my News Corp. stake to 17%.

The article focuses on the complex business relationship between Rupert Murdoch and Liberty Media's chairman/CEO, detailing a significant stock acquisition in News Corp. during the 2004 presidential election. Liberty Media, already a major shareholder, seized an opportunity to purchase a large block of voting stock that was unexpectedly available due to News Corp.'s transition to the Nasdaq, which led to speculation about a potential takeover. Despite initial tensions and misunderstandings, the situation was resolved through discussions that culminated in a mutually beneficial asset swap, allowing Murdoch to maintain control of his company while Liberty Media expanded its holdings. The narrative highlights the importance of communication and trust in business dealings, as well as the ongoing competitive yet respectful dynamic between the two media moguls. [Extracted from the article]