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SiriusXM Will Buy Live Nation, says Analyst

Analyst Brandon Ross joined other analysts in recent months in suggesting that this week's SiriusXM purchase of Pandora is part of a bigger plan, with Live Nation the next company. Continue reading [https://www.hypebot.com/hypebot/2018/09/siriusxm-will-buy-live-nation-says-analyst.html]

,   and  Bruce Houghton
SiriusxmAnalyst Brandon Ross joined other analysts in recent months in suggesting that this week's SiriusXM purchase of Pandora is part of a bigger plan, with Live Nation the next company on the list. Livenation“This transaction is likely the first of multiple deals involving SiriusXM, particularly as the all-stock nature of the Pandora acquisition did nothing to address Sirius’ growing access to cash,” BTIG analyst Brandon Ross wrote, according to MarketWatch. “We continue to believe Sirius’ controlling shareholder, Liberty Media Corporation, wishes to eventually control a combined SiriusXM, Pandora and Live Nation, and that this will become reality with a Sirius acquisition of Live Nation and a clean-up of Sirius’ share structure.”Liberty Media and Live Nation already have something in common: Greg Maffei, who serves as CEO of the first company and chairman if Live Nation Entertainment, SiriusXM and TripAdvisor.On a conference call, Ross asked Sirius XM CEO Jim Meyer about a Live Nation acquisition and Meyer did not give a flat-out no, saying Sirius has “done the math” and “certainly [has] the firepower to do other things if we want to” but such deals are “not on my mind right now.”This wouldn’t be the first time the entity now known as Live Nation, once known as Clear Channel Entertainment, would be indelibly tied to music broadcasting.Meanwhile, Live Nation stock, which has gained 26% over the past 12 months, has outperformed the S&P 500, which has gained 17% over the same time frame.– CelebrityAccessBeware: Liberty Media CEO, SiriusXM Chairman Greg Maffei Is Now Music's Most Powerful Executive

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