John Malone Moves to Simplify Empire With Spinoff of Liberty Live

Media Mogul John Malone Reorganizes Liberty Media, Simplifies Corporate Structure

Liberty Media chairman John Malone is simplifying his sprawling media empire by spinning off Liberty Live, a tracking stock that includes the Atlanta Braves baseball team, the Battery Atlanta mixed-use development, and the Live Nation concert promotion unit.

Liberty Live Spinoff Part of Malone's Plan to Focus on Core Businesses

The move is part of Malone's strategy to focus on Liberty Media's core businesses of broadband, wireless, and content. Liberty Live, which was created in 2018, has been a drag on Liberty Media's stock price, as investors have been concerned about the company's exposure to the cyclical live events business.

Spinoff Expected to Close in Fourth Quarter of 2023

The spinoff is expected to close in the fourth quarter of 2023, pending regulatory approval. Liberty Media shareholders will receive one share of Liberty Live common stock for every four shares of Liberty Media common stock they own.

Liberty Live Will Continue to Own Atlanta Braves and Battery Atlanta

Liberty Live will continue to own the Atlanta Braves, the Battery Atlanta mixed-use development, and the Live Nation concert promotion unit. Liberty Media will retain ownership of its stake in SiriusXM, the satellite radio company, and its Formula One racing business.

Malone Seeks to Unify Liberty Media Structure

The spinoff is part of Malone's long-term goal of simplifying Liberty Media's corporate structure. In recent years, Malone has taken steps to consolidate his control over Liberty Media, including buying out minority shareholders and merging Liberty Media with its tracking stock, Liberty Broadband.

Liberty Live Spinoff Will Reduce Complexity for Investors

The spinoff of Liberty Live will make Liberty Media's corporate structure more straightforward for investors. Liberty Media will now be focused on its core businesses of broadband, wireless, and content, while Liberty Live will be focused on live events.

Malone's Empire Continues to Evolve

The spinoff of Liberty Live is the latest in a series of moves by Malone to reshape his media empire. In recent years, Malone has sold off several non-core assets, including his stake in Discovery Communications and his stake in Lionsgate Entertainment.

Malone Remains a Major Player in Media Industry

Despite the spinoff of Liberty Live, Malone remains a major player in the media industry. He is the largest shareholder of Liberty Media, SiriusXM, and Formula One. He is also the chairman of Liberty Media and SiriusXM.