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Liberty Media, led by billionaire chairman John Malone and CEO Greg Maffei, is getting into the SPAC game. An affiliate of the company filed to raise $500 million to look for a merger in technology, media or telecommunications.
Amongst the glut of SPACs currently in market, the 79-year-old Malone and his Liberty platform could stand out with its already wide-ranging portfolio across sports and media, including:
- Atlanta Braves
- Charter Communications
- Formula One
- SiriusXM
- TripAdvisor
It’s a SPAC world: It’s been a record year for SPACs, with nearly $67 billion raised by 188 SPACs through IPOs this year, with another 57 ready to file. Last year set the previous high mark, with 59 companies raising $13.6 billion.
Up in Boston: A pending deal between Red Sox owner Fenway Sports Group and the RedBall SPAC could create a chance for fans and public equity investors to own a share of the storied MLB franchise, Fenway Park, Liverpool FC and other properties.
Fenway Sports Group is also reportedly “looking into” buying another North American sports team, a move that could be funded in part by the SPAC IPO.
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