Formula One Group (Liberty tracking group / post-split Liberty Media focus)

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Liberty’s “two-company” bet: Live Nation stake breaks free as Formula One keeps the wheel

Retains Formula 1 and MotoGP; gains arena/digital-sports/gaming interests via reattribution

This is a corporate divorce where the prenup matters. Liberty Media is separating its Live Nation-heavy Liberty Live Group into a stand-alone public company, Liberty Live Holdings—after first swapping $421.7 million of assets to draw a clean line between "live entertainment" and "motorsports".

Updated May 15