Liberty Media Wants To Boost Stake In New Live Nation
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A day after the Ticketmaster-Live Nation (NYSE: LYV) merger got the green light from regulators, major shareholder Liberty Media (NSDQ: LINTA) is moving to boost its stake in the new company. Liberty Media, which already owns 14.6 percent of Live Nation Entertainment (via its previous stake in Ticketmaster), says it will make a tender offer to buy another 20.3 percent of the company.
In a release, Liberty says it has an agreement that lets it buy up to 35 percent of Live Nation Entertainment and that it’s buying up the stock for “investment purposes.” Still, there’s some speculation out there that Liberty Media’s move to boost its stake could lead to a new round of animosity (or be the result of the previous round of infighting) between Liberty Media Chairman John Malone and Barry Diller, who is serving as the chairman of Live Nation Entertainment.
Posted In: Legal, Money, M&A & Venture Capital, Mergers & Acquisitions, live nation, ticketmaster
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