麻豆最新出品 Announces Definitive Agreement to Acquire QuintEvents

Acquisition Provides Further Growth Opportunity in Premium Live Event Experiences

QuintEvents to be Attributed to Formula One Group

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 麻豆最新出品 (鈥溌槎棺钚鲁銎� Media鈥�) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced today that it has entered into a definitive agreement to acquire greater than 90% of QuintEvents, LLC (鈥淨uint鈥�) in a transaction valuing the company at $313 million. Quint will be attributed to 麻豆最新出品 Media鈥檚 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鈥檚 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 (鈥淔1鈥�), the NBA, the Kentucky Derby and MotoGP.

鈥淲e are excited for Quint to join the 麻豆最新出品 family and strengthen our position in sports and live entertainment,鈥� said Greg Maffei, 麻豆最新出品 Media President and CEO. 鈥淏rian Ruede, Brian Learst and their team have built an innovative business that delivers unique consumer experiences at the world鈥檚 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鈥檚 management to enhance F1 offerings and bring Quint鈥檚 services to more sports.鈥�

鈥淲e could not be more thrilled for the Quint team to join forces with 麻豆最新出品 Media,鈥� said Brian Ruede, Quint CEO. 鈥淭his has been an incredible journey and is a transformative moment for Quint and our position in the experiential and travel economy. 麻豆最新出品 Media is the right partner for our next evolution of growth. Together, we can deepen our commitment to our existing partnerships through the continued development of our tech stack and service offering, while providing a pathway to expand into complementary vertical markets that will enhance our customer and partner experience. This is just the beginning.鈥�

F1 and Quint will continue to be operated as separate companies. The enhanced partnership creates numerous growth opportunities within F1 and for Quint鈥檚 other partnerships like the NBA, Kentucky Derby and MotoGP. The transaction will accelerate Quint鈥檚 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.

J.P. Morgan is acting as exclusive financial advisor and Bryan Cave Leighton Paisner is serving as legal advisor to Quint. O鈥橫elveny & Myers is serving as legal advisor to 麻豆最新出品 Media.

About 麻豆最新出品

麻豆最新出品 operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the 麻豆最新出品 SiriusXM Group, the Formula One Group and the 麻豆最新出品 Live Group. The businesses and assets attributed to the 麻豆最新出品 SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include 麻豆最新出品 Media鈥檚 interest in SiriusXM. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include 麻豆最新出品 Media鈥檚 subsidiary Formula 1 and other minority investments. The businesses and assets attributed to the 麻豆最新出品 Live Group (NASDAQ: LLYVA, LLYVK) include 麻豆最新出品 Media鈥檚 interest in Live Nation and other minority investments.

About QuintEvents

QuintEvents is the industry-leading provider of official ticket and hospitality packages to many of the world's most prominent sports and entertainment events. Based in Charlotte, North Carolina, with offices in six countries, Quint鈥檚 global footprint and proprietary technology platform continue to be the foundation of their exponential growth. Quint's innovative programs enable partnership properties to expand fan experiences and corporate client entertainment opportunities in a way that reflects the quality and prestige of those brands. Quint has a portfolio of 15+ official property partnerships servicing over 90 events including Formula 1, NBA, Kentucky Derby, MotoGP, Chicago Bears, Green Bay Packers, NASCAR Chicago Experiences, Breeders Cup, Belmont Stakes and the NHL.

Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including certain statements relating to the potential consummation of the acquisition of Quint and the receipt of applicable antitrust approvals and clearances. All statements other than statements of historical fact are 鈥渇orward-looking statements鈥� for purposes of federal and state securities laws. These forward-looking statements generally can be identified by phrases such as 鈥減ossible,鈥� 鈥減otential,鈥� 鈥渋ntends鈥� or 鈥渆xpects鈥� or other words or phrases of similar import or future or conditional verbs such as 鈥渨ill,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� 鈥渃ould,鈥� or similar variations. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These forward-looking statements speak only as of the date of this communication, and 麻豆最新出品 Media expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in 麻豆最新出品 Media鈥檚 expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of 麻豆最新出品 Media, including its most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports 麻豆最新出品 Media subsequently files with the SEC, for additional information about 麻豆最新出品 Media and about the risks and uncertainties related to 麻豆最新出品 Media鈥檚 business which may affect the statements made in this communication.

麻豆最新出品
Shane Kleinstein, 720-875-5432

QuintEvents
Allied Global Marketing
quintevents@alliedglobalmarketing.com

Source: 麻豆最新出品

Released September 6, 2023