Liberty Media Completes Acquisition of Quint Events
Formula One owner will operate ticketing and hospitality provider as separate company
Posted On: January 8, 2024 By :Liberty Media Corporation has completed the acquisition of QuintEvents in a purchase that values Quint at $313 million and was funded with Formula One Group cash on hand, while Quint and F1 will be operated as separate companies.
Liberty Media Corporation operates and owns the Formula One Group among other businesses and assets. The businesses and assets attributed to the Formula One Group include Liberty Media’s subsidiaries Formula 1 and Quint, as well as other minority investments. Formula 1 and Quint in October 2021 announced a multi-year extension to their official partnership, F1 Experiences, which offers fan package experiences and trackside hospitality.
“Quint is a great addition to Liberty Media, extending our reach in premium experiences and capitalizing on continued growth in the global experiential economy,” said Greg Maffei, Liberty Media president and chief executive officer. “We aim to leverage our relationships in sports and live events to expand Quint’s portfolio of new business, provide more one-of-a-kind opportunities to fans and increase efficiency in the ticketing distribution ecosystem.”
Along with its relationship with Formula One, Quint has a portfolio of more than a dozen official property partnerships servicing over 90 events including the NBA, Kentucky Derby, MotoGP, Chicago Bears, Green Bay Packers, The Open Championship, NASCAR, Breeders Cup, Belmont Stakes and the NHL. Quint was rebranded in October 2023 as well as the recent appointment of Brian Ruede as chief executive officer.
“Today is a transformative moment for Quint’s future,” said Ruede. “Our expertise in the global experiential economy and Liberty Media’s strong relationships in sports and live entertainment will make for a dynamic team. We will look to aggressively expand our services and strategic portfolio of partnerships to become the most comprehensive experiential platform in the world. We are just getting started.”
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