At first look, Journalism is simply one other promising colt chasing glory at this 12 months’s Kentucky Derby. However beneath the bay coat and late-race energy is a narrative that reaches far past the racetrack—one about endurance, self-discipline, and the type of long-term considering that feels more and more uncommon in American enterprise and tradition.
You might also like
The horse is co-owned by John Malone, the media titan whose title is synonymous with consolidation, management, and quiet dominance. As soon as dubbed the “Cable Cowboy,” Malone helped form the cable-TV trade and constructed Liberty Media right into a sprawling media empire that now owns Formulation One. However behind his well-earned fame as a ruthless negotiator lies one thing extra sudden: a deep dedication to land, conservation, and relationships. And whereas Malone famously shuns headlines and social occasions, Journalism the racehorse gives a uncommon window into that quieter philosophy—and into the paradoxes that outline Malone himself.
At the Santa Anita Derby final month, Journalism delivered a efficiency that completely encapsulated Malone’s strategy. Caught on the rail early and dropped to final, the colt didn’t chase. He waited. Then, with uncanny timing, he swung large and surged previous the leaders to win in breathtaking vogue.
“Write this down!” the astonished observe announcer bellowed. “Journalism is the very best within the West!”
The technique—wait, watch, strike—may have come straight from Malone’s playbook. For many years, he has made a fortune figuring out undervalued belongings, betting massive when others received’t, and staying the course lengthy after the headlines fade. In 1985, he wired $500,000 to Discovery Channel founder John Hendricks to maintain the fledgling community from going darkish. Thirty-five years later, Discovery’s market cap had grown to $20 billion earlier than its 2021 merger with Warner Bros. In 2009, when SiriusXM teetered on chapter, Malone stepped in with a $530 million mortgage. The return? Two years later, Liberty Media owned a 40% stake value greater than $5 billion, and would finally come to personal SiriusXM.
Malone’s endurance isn’t restricted to media. In 2013, he and his spouse Leslie purchased Bridlewood Farm in Ocala, Florida—a storied however getting older thoroughbred operation. Somewhat than make a fast splash with a flashy stallion, they modernized the infrastructure, employed world-class employees, and centered on long-term growth. The outcome: a resurgence of elite racehorses, together with Tapwrit, winner of the 2017 Belmont Stakes, and now Journalism.
Worthwhile thoroughbreds are uncommon, however even when Journalism doesn’t place at Churchill Downs, his future as a high-end sire is already safe. As in enterprise, Malone spreads the danger. The partnership of Malone, Aaron Wellman of Eclipse Thoroughbred Companions, and longtime collaborator Robert LaPenta is constructed on belief and strategic alignments. Wellman, a former highschool newspaper editor, named the horse Journalism—a delicate nod that provides symbolic resonance to an already compelling story.
Malone’s bare-knuckle cable-TV negotiations earned him the moniker “Darth Vader” within the Nineteen Nineties, however his land investments reveal the opposite facet of the person. Right this moment, he’s the one of many largest non-public landowners in the US—to not develop, however to preserve. He has restored working ranches throughout the Rockies, preserved huge open areas within the West, and helped save a 600-acre Maryland farm from bulldozers.
Their curiosity in horses isn’t simply enterprise. It displays a deeper ethos of stewardship, worth and Leslie Malone’s lifelong affection for animals. In Colorado, the Malones funded the Concord Equine Heart, a 168-acre rehab and adoption facility that has rescued and rehomed over 1,000 deserted or abused horses.
And worth usually lies the place others fail to look. Take the colt with one eye. The ranch boss at Silver Spur Ranches, one other of Malone’s holdings, purchased the half-blind horse for under $1,200. With nurturing, that little one-eyed colt—WR One-Eyed Jack—grew as much as be fairly the stud, and a cornerstone of the breeding program on the Silver Spur Ranches, siring a protracted line of prize-winning working ranch horses.
What struck me most in working with Malone have been these contradictions. The world needs clear classes: hero or villain, tycoon or tree-hugger. However folks, like journalism, are sometimes difficult, flawed, and stuffed with competing truths.
These tales mirror Malone’s core perception: Worth takes time to disclose itself. In an period pushed by quarterly earnings and viral metrics, that perception is nearly radical. Nevertheless it’s additionally more and more important.
We reside in a tradition the place velocity is king. The place inventory spikes outweigh fundamentals, and a focus spans are monetized in milliseconds. We’ve confused flash for substance and web page views for worth. Journalism, the horse—and journalism, the career—each counsel one other path. One the place endurance, persistence, and long-term dedication nonetheless matter.
Whether or not Journalism wins the Derby or not, he has already delivered one thing extra lasting than a trophy: a reminder that actual progress—on the observe, in enterprise, in life—isn’t about racing to the entrance. It’s about realizing when to attend, when to maneuver, and tips on how to go the gap.
The opinions expressed in Fortune.com commentary items are solely the views of their authors and don’t essentially mirror the opinions and beliefs of Fortune.
This story was initially featured on Fortune.com
