Analyst: Live Nation–SiriusXM merger “inevitable”
According to BTIG's Brandon Ross, Greg Maffei's Liberty Media "would like a deal to happen" – although Amazon and Spotify are also believed to be waiting in the wings…
News By | 25 July 2018
A merger between Live Nation and Liberty Media’s SiriusXM is inevitable in the near term, a leading Wall Street analyst has suggested.
Earlier this month, Live Nation’s share price climbed above US$50 for the first time, bolstered by rumours the concert giant could be the target of an acquisition by satellite radio provider SiriusXM.
Greg Maffei, CEO of SiriusXM parent company Liberty Media – which owns roughly a third of Live Nation – said in May that the company may look at “ways to have them [SiriusXM and Live Nation] work together”, and analysts have long espoused the potential benefits of a Live Nation/Ticketmaster–SiriusXM merger, which Citigroup’s Jason Bazinet says would create a “vertically integrated music titan”.
Brandon Ross, of BTIG Research…
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