May
2012
Wednesday, May 22, 2002
Phyllis Austin, Maine Environmental News

John Malone Buys 53,524-acre Frontier Forest In Maine

Billionaire entrepreneur John C. Malone has purchased the 53,524-acre Frontier Forest in the western mountains from Great Eastern Timber Co., LLC, an entity of the John Hancock Life Insurance Co.

[www.meepi.org] The property – with significant ecological and recreational resources -- is the second landmark tract Malone has acquired in Maine and is a major addition to his U. S. holdings.

Malone’s purchase may re-trigger the debate over "kingdom buyers" that began several years ago when he acquired 15,000 acres around Spencer Lake, south of the new parcel. Sportsmen raised concerns then that their traditional access might be cut off, but Malone has allowed the public to recreate as long as they are respectful of the property. That policy will continue on the Frontier Forest, said Gary Bahlkow of LandVest, the company that oversees Malone’s Maine land.

Malone’s interest in land conservation appears to be growing, as his land holdings top more than 100,000 acres in Maine and several western states. Last winter, he became a director of The Nature Conservancy’s national board. Kent Wommack, head of TNC’s Maine chapter, said that Malone will be "a good steward. It’s good news that he is the buyer."

Posted by Editor on 05/22/02 at 10:00 PM •  (0) Comments

Tags:  billionaire, wealth, land,

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