Liberty repays $130m loan, avoids LN stock sale

Live Nation shares rise by 11%, as significant shareholder Liberty Media Corporation pays off company loan

News By | 20 March 2020

The stock market has been hit hard by the global spread of Covid-19 © Pixabay

Liberty Media Corporation has repaid a £130 million margin loan to Live Nation, preventing any sale of its stock in the company.

Liberty, which owns almost 70 million shares in Live Nation, around 34% of the company, states that the payment means “there are no margin or other price triggers that could require a sale of the underlying stock.”

Following the repayment, Live Nation’s share price rose 11%, with the company’s market cap sitting at $7.06 billion.

Liberty, which is led by Live…

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