Liberty Media Announces Intention to Acquire Live Nation Shares in Connection with Live Nation Convertible Note Offering
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Media Corporation (“Liberty”) (NASDAQ: LMCA, LMCB) announced today that it intends to acquire up to 3,700,000 shares of common stock of Live Nation Entertainment, Inc. (“Live Nation”) from investors participating in Live Nation’s previously announced offering of convertible notes. The shares would be acquired, through market purchases, following the completion of Live Nation’s marketing efforts. Liberty is not a participant in Live Nation’s offering, and Liberty cannot assure you that Live Nation’s offering will be completed, or that there will be sufficient shares available for purchase, in each case, on favorable terms or at all.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the offering by Live Nation of its convertible notes, the proposed acquisition of shares of Live Nation common stock by Liberty, and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the ability of Live Nation to complete its offering on favorable terms or at all, the availability of Live Nation shares for purchase by Liberty, general market conditions and other matters affecting the respective businesses of Liberty and Live Nation. These forward-looking statements speak only as of the date of this press release, and Liberty expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of Liberty, including the most recent Forms 10-Q and 10-K, for additional information about Liberty and about the risks and uncertainties related to its business which may affect the statements made in this press release.
About Liberty Media Corporation
Liberty Media Corporation owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries Sirius XM Holdings, Inc., Atlanta National League Baseball Club, Inc. and TruePosition, Inc., its interests in Charter Communications and Live Nation, and minority equity investments in Time Warner Inc., Time Warner Cable, and Viacom.
Liberty Media Corporation
Courtnee Ulrich, 720-875-5420
Source: Liberty Media Corporation
Released May 19, 2014