Liberty Media announced plans to spin off its live entertainment group, which includes a 69.6 million share stake in Live Nation and a majority interest in QuintEvents. The spinoff is expected to complete in the second half of 2025, subject to shareholder approval.

Key details of the spinoff:

• The new Liberty Live Group will trade on Nasdaq Global Select Market or OTC Markets
• Liberty Media will retain control of Formula 1 and MotoGP
• QuintEvents will transfer from Formula One Group to Liberty Live Group
• The move aims to simplify Liberty Media's capital structure and enhance trading liquidity

In related news, Saudi Arabia's Public Investment Fund has sold its entire Live Nation stake, which it acquired for $500 million in early 2020. Select Equity Group now holds approximately 5.4% of Live Nation shares (12.57 million shares).

Greg Maffei, Liberty Media's outgoing CEO, noted that QuintEvents complements their Live Nation interest, particularly as Live Nation expands its hospitality operations. The spinoff is expected to reduce the discount to net asset value of Liberty Live stock while maintaining strategic alignments between the companies.

Live Nation's stock recently reached a 52-week high of $130.76 per share following strong Q3 2024 earnings, demonstrating continued growth in the live entertainment sector.

Related Articles

Previous Articles