Liberty Media Says It Fully Repaid Live Nation Loan
Liberty Media Corp., a holding firm with a various portfolio of media investments, together with in Reside Nation Leisure, stated Thursday it has totally repaid the reside occasion firm’s margin mortgage utilizing a portion of money available.
“With the cost of $130 million, there aren’t any margin or different worth triggers that would require a sale of the underlying inventory,” Liberty stated in a press launch. Reside Nation shares rose greater than 9% in a risky market. The corporate’s inventory and its financials have been slammed by the coronavirus as reside occasions and gathering are canceled world wide. Scores companies have expressed concern in regards to the firm’s skill to climate the storm given its debt obligations.
Liberty Media owns roughly 69.6 million sha res of Reside Nation frequent inventory.
Advanced Liberty Media Company operates and owns pursuits in a broad vary of media, communications and leisure companies underneath three monitoring inventory group – Liberty SiriusXM Group, the Braves Group and the Formulation One Group – which incorporates its subsidiary Formulation 1, its curiosity in Reside Nation and minority fairness funding in AT&T.
COPYRIGHT_BP: Published on https://bingepost.com/liberty-media-says-it-fully-repaid-live-nation-loan/67077/ by Cecilia Jones on 2020-03-19T17:43:37.000Z
