ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Media Corporation ("Liberty Media") (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced today that it has completed the acquisition of QuintEvents, LLC ("Quint"), an industry-leading provider of premium experiences at the world's most prominent sports and entertainment events. Quint is attributed to Liberty Media's Formula One Group tracking stock.
"Quint is a great addition to Liberty Media, extending our reach in premium experiences and capitalizing on continued growth in the global experiential economy," said Greg Maffei, Liberty Media President and CEO. "We aim to leverage our relationships in sports and live events to expand Quint's portfolio of new business, provide more one-of-a-kind opportunities to fans and increase efficiency in the ticketing distribution ecosystem."
"Today is a transformative moment for Quint's future," said Brian Ruede, Quint CEO. "Our expertise in the global experiential economy and Liberty Media's strong relationships in sports and live entertainment will make for a dynamic team. We will look to aggressively expand our services and strategic portfolio of partnerships to become the most comprehensive experiential platform in the world. We are just getting started."
The transaction values Quint at $313 million and was funded with Formula One Group cash on hand. Formula 1 and Quint will continue to be operated as separate companies.
About Liberty Media Corporation
Liberty Media Corporation operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Formula One Group and the Liberty Live Group. The businesses and assets attributed to the Liberty SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include Liberty Media's interest in SiriusXM. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include Liberty Media's subsidiaries Formula 1 and Quint, as well as other minority investments. The businesses and assets attributed to the Liberty Live Group (NASDAQ: LLYVA, LLYVK) include Liberty Media's interest in Live Nation and other minority investments.
About Quint
Quint is the industry-leading provider of Official Ticket and Hospitality packages to many of the world's most prominent sports and entertainment events. Based in Charlotte, North Carolina, with offices in six countries, Quint's innovative programs enable those properties to expand fan experiences and corporate client entertainment opportunities in a way that reflects the quality and prestige of those brands.
Quint has a portfolio of 15+ official property partnerships servicing over 90 events including Formula 1®, NBA, Kentucky Derby®, MotoGP, Chicago Bears, Green Bay Packers, The Open Championship, NASCAR, Breeders Cup, Belmont Stakes and the NHL®.
Contacts
Liberty Media Corporation
Shane Kleinstein, 720-875-5432
Quint
Allied Global Marketing
mwyatt-uhl@alliedglobalmarketing.com
