"We made a strong bid that reflected the value of the rights to our business, and we thank the Premier League for the chance to participate, " said an ESPN spokesman.
Just a year later, TCI created a Liberty stock once again, this time via a "tracking" stock that reflected the value of Liberty assets but was not a direct ownership claim on them.
As economic actors, men possess different data and make different value judgments reflected in pricing so the mere act of gifting may have immeasurable value to one and not to another.