(UPDATED) Liberty Media has increased its stake in concert and ticketing giant Live Nation, fueling speculation that the privately owned media conglomerate may be contemplating a buyout of the now public promoter-giant. In an SEC filing on Thursday, Live Nation reported that Liberty Media had acquired 9,500,000 shares in the company, approximately 10% of their outstanding common stock, giving Liberty approximately a 35% stake in the company.
While talking to press outside of Duchin Lounge at the Sun Valley Resort on Wednesday evening, Liberty Media's John Malone said that he believed Live Nation should be a private company, the New York Times reported. "You’re talking about rock musicians; this is not my kind of thing,” Malone added. "I don’t like a business where the assets go up and down on elevators. I like them to be fixed, hung on poles or up in space going around." - from CelebrityAccess