Deal Description: On April 23, 2020, Liberty Media Corporation (“Liberty Media”) (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) announced that its board of directors approved the change in attribution of its Live Nation interest along with other assets and liabilities between the Formula One Group and the Liberty SiriusXM Group (the “Reattribution”). The Reattribution, which is based on recent market prices for the publicly traded securities, is effective immediately. $1.5 billion of net asset value has been reattributed from each of Formula One Group and Liberty SiriusXM Group to the other.

Baker Botts is representing Liberty Media in the transaction.

Baker Botts Lawyers/Office Involved:

Corporate: Samantha Crispin (Partner, Dallas); Frederick McGrath (Partner, New York); Adorys Velazquez (Partner, New York); Catherine Gallagher (Partner, Washington, D.C.); Beverly Reyes (Partner, New York); John Johnston (Special Counsel, New York); Emilie Heck (Associate, New York); Madeline Tusa (Associate, New York)

Finance: Robert Wann (Partner, New York); Josh Espinosa (Associate, Dallas)

Tax: Tamar Stanley (Partner, Washington, D.C.); Robin Melman (Partner, New York); Josh Mandell (Partner, Dallas); Matt Donnelly (Special Counsel, Washington, D.C.); Peter Farrell (Associate, Washington, D.C.)

For more information, please see Liberty Media’s news release here.

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