Liberty Media enters forward contracts on up to 10.5M Live Nation shares; $1.15B prepayment capacity for split-off

Liberty Media Corp

LN Holdings 1, LLC signs forward contracts with Santander, Citibank, Morgan Stanley, Mizuho covering up to 10,488,960 LYV shares.
Initial Share Price $137.45, Forward Floor $109.96, Forward Cap $179.37; valuation period ends Q1 2027.
Contracts allow prepayments up to ~$1.15B to provide liquidity for SplitCo to cash-settle debenture puts/exchanges.
Liberty Media retains ~30% beneficial ownership in Live Nation; no change from entering contracts.

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