Liberty Media Company (“Liberty Media”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) introduced at present that it has entered right into a definitive settlement to amass better than 90% of QuintEvents, LLC (“Quint”) in a transaction valuing the corporate at $313 million. Quint shall be attributed to Liberty Media’s Formulation One Group monitoring inventory, and the transaction, which is anticipated to be accretive, shall be funded with money readily available.
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Quint is a worldwide supplier of official ticket, hospitality and journey experiences to lots of the world’s most outstanding sports activities and leisure occasions. Quint packages and sells ticket and hospitality stock with distinctive experiences via marquee relationships with sporting occasion rightsholders, together with Formulation 1 (“F1”), the NBA, the Kentucky Derby and MotoGP.
Greg Maffei, Liberty Media President and CEO, mentioned:
We’re excited for Quint to affix the Liberty household and strengthen our place in sports activities and reside leisure. Brian Ruede, Brian Learst and their staff have constructed an revolutionary enterprise that delivers distinctive shopper experiences on the world’s most sought-after occasions. Quint is a high-growth firm with engaging free money conversion. As a business accomplice to F1, Quint has confirmed their product growth and gross sales experience by creating the F1 Experiences program. Now we have excessive conviction within the demand for premium reside occasions and can work with Quint’s administration to reinforce F1 choices and convey Quint’s providers to extra sports activities.
Brian Ruede, Quint CEO, added:
We couldn’t be extra thrilled for the Quint staff to affix forces with Liberty Media. “This has been an unbelievable journey and is a transformative second for Quint and our place within the experiential and journey financial system. Liberty Media is the proper accomplice for our subsequent evolution of progress. Collectively, we are able to deepen our dedication to our current partnerships via the continued growth of our tech stack and repair providing whereas offering a pathway to develop into complementary, vertical markets to reinforce our buyer and accomplice expertise. That is only the start.
F1 and Quint will proceed to be operated as separate corporations. The improved partnership creates quite a few progress alternatives inside F1 and for Quint’s different alliances just like the NBA, Kentucky Derby and MotoGP. The transaction will speed up Quint’s specialised gross sales engine and leverage onsite occasion experience to ship best-in-class experiences to followers.Closing is anticipated by year-end and is topic to customary closing circumstances, together with relevant antitrust filings.J.P. Morgan is performing because the unique monetary advisor, and Bryan Cave Leighton Paisner is serving because the authorized advisor to Quint. O’Melveny & Myers is serving as authorized advisor to Liberty Media.
About Liberty Media Company
Liberty Media Company operates and owns pursuits in a broad vary of media, communications and leisure companies. These companies are attributed to a few monitoring inventory teams: the Liberty SiriusXM Group, the Formulation One Group and the Liberty Dwell Group. The businesses and property attributed to the Liberty SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) embody Liberty Media’s curiosity in SiriusXM. The businesses and property attributed to the Formulation One Group (NASDAQ: FWONA, FWONK) embody Liberty Media’s subsidiary Formulation 1 and different minority investments. The businesses and property attributed to the Liberty Dwell Group (NASDAQ: LLYVA, LLYVK) have Liberty Media’s curiosity in Dwell Nation and different minority investments.
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About QuintEvents
QuintEvents is the industry-leading official ticket and hospitality bundle supplier to lots of the world’s most outstanding sports activities and leisure occasions. Based mostly in Charlotte, North Carolina, with workplaces in six international locations, Quint’s international footprint and proprietary expertise platform proceed to be the inspiration of its exponential progress. Quint’s revolutionary packages allow partnership properties to develop fan experiences and company consumer leisure alternatives in a manner that displays the standard and status of these manufacturers. Quint has a portfolio of 15+ official property partnerships servicing over 90 occasions, together with Formulation 1, NBA, Kentucky Derby, MotoGP, Chicago Bears, Inexperienced Bay Packers, NASCAR Chicago Experiences, Breeders Cup, Belmont Stakes and the NHL.
