Liberty Media Reclassifies Shares

Pollstar Staff
2:15 am, Friday, 11/13/2015
News

Liberty Media, a major stakeholder in Live Nation Entertainment, said Nov. 12 it will separate its common stock into three tracking groups to concentrate its media, sports and satellite radio holdings.

Live Nation will track in the Liberty Media Group, along with the company’s stakes in Time Warner and Viacom, according to the Wall Street Journal. Other groups are the Liberty Braves Group (including the Atlanta Braves baseball team) and Liberty Sirius Group (Sirius XM Holdings).

The company says the move will highlight financial performance and enable targeted fund raising. Live Nation CEO Michael Rapino was to make a presentation during a Liberty Media investor meeting in New York City the same day the move was announced.