Liberty Gobbles Up More LYV
Liberty Media has acquired an additional 4.5 million shares of Live Nation common stock, according to a filing with the Securities and Exchange Commission.
The purchase comes on the heels of its purchase of about 2.5 million shares from former LN chairman Barry Diller, who left the company last month. The latest buy gives Liberty Media, headed by LN director John Malone, a total of 31.9 million shares of LYV and an 18 percent stake, up from 14 percent after the company’s share offer to stakeholders last year.
Live Nation stock has risen about 24 percent to date this year, and has a shareholder’s meeting scheduled to take place Dec. 2.