Liberty Media acquires Quint Events for $313m
September 9, 2023
Liberty Media Corporation has entered into a definitive agreement to acquire greater than 90% of QuintEvents, LLC (“Quint”) in a transaction valuing the company at $313 million.
Quint will be attributed to Liberty Media’s 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’s 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 (“F1”), the NBA, the Kentucky Derby and MotoGP.
“We are excited for Quint to join the Liberty family and strengthen our position in sports and live entertainment,” said Greg Maffei, Liberty Media President and CEO. “Brian Ruede, Brian Learst and their team have built an innovative business that delivers unique consumer experiences at the world’s 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’s management to enhance F1 offerings and bring Quint’s services to more sports.”
“We could not be more thrilled for the Quint team to join forces with Liberty Media,” said Brian Ruede, Quint CEO. “This has been an incredible journey and is a transformative moment for Quint and our position in the experiential and travel economy. Liberty 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.”
F1 and Quint will continue to be operated as separate companies. The enhanced partnership creates numerous growth opportunities within F1 and for Quint’s other partnerships like the NBA, Kentucky Derby and MotoGP. The transaction will accelerate Quint’s specialized sales engine and leverage onsite event expertise to deliver best-in-class experiences to fans.
