Liberty Media announces agreement to acquire QuintEvents

Liberty Media (LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced that it has entered into a definitive agreement to acquire greater than 90% of QuintEvents in a transaction valuing the company at $313M. Quint will be attributed to Liberty Media’s Formula One Group tracking stock, and the transaction, which is expected to be accretive, will be funded with cash on hand. “Quint is a global provider of official ticket, hospitality and travel experiences to many of the world’s most prominent sports and entertainment events. Quint packages and sells ticket and hospitality inventory with unique experiences through marquee relationships with sporting event rightsholders including Formula 1, the NBA, the Kentucky Derby and MotoGP… F1 and Quint will continue to be operated as separate companies. The enhanced partnership creates numerous growth opportunities within F1 and for Quint’s other partnerships like the NBA, Kentucky Derby and MotoGP. The transaction will accelerate Quint’s specialized sales engine and leverage onsite event expertise to deliver best-in-class experiences to fans. Closing is anticipated by year-end and is subject to customary closing conditions, including applicable antitrust filings,” the company stated. “We are excited for Quint to join the Liberty family and strengthen our position in sports and live entertainment. Brian Ruede, Brian Learst and their team have built an innovative business that delivers unique consumer experiences at the world’s most sought-after events. Quint is a high-growth company with attractive free cash conversion. As a commercial partner to F1, Quint has proven their expertise in product development and sales through their creation of the F1 Experiences program. We have high conviction in the demand for premium, live events and will work with Quint’s management to enhance F1 offerings and bring Quint’s services to more sports,” said Greg Maffei, Liberty Media President and CEO.