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Tales from Teligent: Family sold $1B stake before fall.(Brief Article)
Believe it or not, someone got rich off of Teligent.
Almost forgotten by outsiders, the Berkman family of Pittsburgh walked away from Teligent with $1 billion last year. The family -- described by current and former Teligent executives as secretive, intensely private and financially savvy -- sold their large stake in Vienna-based Teligent to Liberty Media in a deal that closed in January 2000, just two months before Teligent began its painful slide toward bankruptcy.
Under the deal with Liberty Media, an AT&T company run by telecommunications guru John Malone, the Berkmans sold their company, The Associated Group, in exchange for AT&T stock. The overall deal was worth $3 billion at the time, and included 40 percent of Teligent, …
