Liberty Media begins tender offer for larger stake in Live Nation

Liberty Media, which already owns about 15 percent of Live Nation Entertainment, has begun a tender offer to boost its holdings in the company to about 35 percent. The conglomerate, run by media mogul John Malone, is offering $12 per share for Live Nation stock, which trades under the symbol "LYV," but Live Nation is asking shareholders to wait before moving ahead, according to Reuters. Liberty Media had to get permission from the Federal Trade Commission before beginning the tender offer, which it got today, February 1. Live Nation stock was trading at just under $12 per share at the close today. Last week, Live Nation gained regulatory approval for its merger with Ticketmaster.