Case Detail

Case Summary

Freedom Communications, Inc: Family Enterprise or Liquidity?

Case Number: 5-307-504, Year Published: 2007

HBS Number: KEL339

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Authors: John Ward; Carol Adler Zsolnay

Key Concepts

Family Business, Governance, Succession, Finance


A family media enterprise with very strong family culture and values is in the third and fourth generation of ownership and governance. They face a crisis when a large number of family shareholders want to cash out their shares. What led to this situation? How could it have been avoided? How should it be resolved? LEARNING OBJECTIVE: Lack of succession and liquidity planning can harm the business through generations when it becomes a crisis.

Number of Pages: 18

Extended Case Information

Teaching Areas: Family Business, Finance, Strategy

Geographic: United States

Industry: Media

Organization Name: Freedom Communications, Inc.

Organization Size: Medium

Decision Maker Position: Board members, family members

Year of Case: 2003