John Malone's Liberty Media said Thursday it was re-attributing its 33 percent stake in Live Nation Entertainment, along with other assets, from its Formula One Group to its SiriusXM tracking stock.
The changes bring the live event and music company stake under the umbrella of audio entertainment giant SiriusXM, while strengthening the liquidity of racing circuit Formula One.
The company also said they optimize its asset portfolio and ensure the different parts of the company are in a strong position for potential future deals.
Analysts have wondered if Liberty could eventually look to acquire control of Live Nation, whose stock has been volatile amid the coronavirus crisis.
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