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

Key Points:

• 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
• Live Nation shares recently reached a 52-week high of $130.76

Outgoing CEO Greg Maffei states the spinoff will simplify Liberty Media's capital structure, reduce discount to net asset value, and enhance trading liquidity.

In related news, Saudi Arabia's Public Investment Fund has completely sold its Live Nation stake, which it acquired for $500 million in early 2020. Select Equity Group now holds approximately 5.4% of Live Nation shares (12,573,719 shares).

The spinoff reflects Liberty Media's strategic focus on optimizing its entertainment assets while maintaining its motorsports properties. QuintEvents' integration with Live Nation is expected to strengthen hospitality operations across both entities.

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