Liberty Media Corporation (“Liberty Media”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) introduced right this moment that it has entered right into a definitive settlement to accumulate better than 90% of QuintOccasions, LLC (“Quint”) in a transaction valuing the corporate at $313 million. Quint will probably be attributed to Liberty Media’s Formula One Group monitoring inventory, and the transaction, which is anticipated to be accretive, will probably be funded with money readily available.
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Quint is a world supplier of official ticket, hospitality and journey experiences to lots of the world’s most outstanding sports activities and leisure occasions. Quint packages and sells ticket and hospitality stock with distinctive experiences via marquee relationships with sporting occasion rightsholders, together with Formula 1 (“F1”), the NBA, the Kentucky Derby and MotoGP.
Greg Maffei, Liberty Media President and CEO, mentioned:
We are excited for Quint to affix the Liberty household and strengthen our place in sports activities and dwell leisure. Brian Ruede, Brian Learst and their group have constructed an revolutionary enterprise that delivers distinctive client experiences on the world’s most sought-after occasions. Quint is a high-growth firm with enticing free money conversion. As a industrial companion to F1, Quint has confirmed their product growth and gross sales experience by creating the F1 Experiences program. We have excessive conviction within the demand for premium dwell occasions and can work with Quint’s administration to boost F1 choices and produce Quint’s providers to extra sports activities.
Brian Ruede, Quint CEO, added:
We couldn’t be extra thrilled for the Quint group to affix forces with Liberty Media. “This has been an unbelievable journey and is a transformative second for Quint and our place within the experiential and journey economic system. Liberty Media is the proper companion for our subsequent evolution of progress. Together, we will deepen our dedication to our current partnerships via the continued growth of our tech stack and repair providing whereas offering a pathway to increase into complementary, vertical markets to boost our buyer and companion expertise. This is only the start.
F1 and Quint will proceed to be operated as separate corporations. The enhanced partnership creates quite a few progress alternatives inside F1 and for Quint’s different alliances just like the NBA, Kentucky Derby and MotoGP. The transaction will speed up Quint’s specialised gross sales engine and leverage onsite occasion experience to ship best-in-class experiences to followers.
Closing is anticipated by year-end and is topic to customary closing circumstances, together with relevant antitrust filings.
J.P. Morgan is performing because the unique monetary advisor, and Bryan Cave Leighton Paisner is serving because the authorized advisor to Quint. O’Melveny & Myers is serving as authorized advisor to Liberty Media.
About Liberty Media Corporation
Liberty Media Corporation operates and owns pursuits in a broad vary of media, communications and leisure companies. Those companies are attributed to a few monitoring inventory teams: the Liberty SiriusXM Group, the Formula One Group and the Liberty Live Group. The corporations and property attributed to the Liberty SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) embrace Liberty Media’s curiosity in SiriusXM. The corporations and property attributed to the Formula One Group (NASDAQ: FWONA, FWONK) embrace Liberty Media’s subsidiary Formula 1 and different minority investments. The corporations and property attributed to the Liberty Live Group (NASDAQ: LLYVA, LLYVK) have Liberty Media’s curiosity in Live Nation and different minority investments.
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About QuintOccasions
QuintOccasions is the industry-leading official ticket and hospitality bundle supplier to lots of the world’s most outstanding sports activities and leisure occasions. Based in Charlotte, North Carolina, with workplaces in six nations, Quint’s world footprint and proprietary expertise platform proceed to be the muse of its exponential progress. Quint’s revolutionary packages allow partnership properties to increase fan experiences and company shopper leisure alternatives in a method that displays the standard and status of these manufacturers. Quint has a portfolio of 15+ official property partnerships servicing over 90 occasions, together with Formula 1, NBA, Kentucky Derby, MotoGP, Chicago Bears, Green Bay Packers, NASCAR Chicago Experiences, Breeders Cup, Belmont Stakes and the NHL.
