More than just a smart observer of the media landscape, Mark Cuban fancies himself an astute seller of properties, getting his price at just the right time. That's why he's a billionaire.But his seller's savvy will certainly be put to the test following his disclosure Tuesday that he is seeking a buyer for his Landmark Theaters chain and indie film distribution company Magnolia. Big questions linger about the future of the exhibition biz, particularly in light of new premium VOD...
Cuban began his career at the age of 12 in his native Pittsburgh, selling garbage bags to finance a pair of basketball shoes. Later, he co-founded Broadcast.com with Todd Wagner and used proceeds from its sale– it was acquired by Yahoo for $5.7 billion in stock in 1999 – to acquire NBA’s Dallas Mavericks and the arthouse movie chain Landmark Theatres and co-found the cable channel HDNet (now AXS TV).
A professed admirer of objectivist author Ayn Rand (“The Fountainhead”), Cuban has invested in a myriad of startups over the years, from investigative web site Sharesleuth.com to high-tech toilet maker Brondell Inc. He’s also put more than $19 million into companies in his four years on the ABC reality series “Shark Tank” and appeared as a contestant on “Dancing with the Stars.”
In 2016, Cuban made more headlines with his charitable activities and political comments than he did with his business dealings. Following the Orlando nightclub shooting in June, he donated $1 million to the Dallas Police Department to help it protect the city’s LGBT community. The following month, Cuban – an independent with Libertarian leanings – endorsed Hillary Clinton for president.