Liberty Media announces live spin-off, CEO to exit

Live Nation’s largest shareholder Liberty Media is to spin off its live interests into a new public company as part of a restructure, as president and CEO Greg Maffei prepares to exit the firm. The proposed move will see Liberty Media and Liberty Live become separate publicly traded companies.

Liberty Media will house the US media, communications and entertainment giant’s Formula 1 and MotoGP subsidiaries, together with other assets, while Liberty Live will hold approximately 69.6 million shares of…

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