|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||43.47 - 43.47|
|52 Week Range||21.00 - 44.95|
|Beta (5Y Monthly)||1.29|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Liberty Media Acquisition Corporation (NASDAQ:LMACU), a special purpose acquisition company (SPAC), has launched its initial public offering (IPO). Source: Shutterstock Here’s everything potential investors in LMACU stock need to know about the Liberty Media SPAC IPO. Liberty Media Acquisition Corporation is a blank-check company created with the purpose of taking a private company public. The SPAC intends to target companies in the “media, digital media, music, entertainment, communications, telecommunications and technology industries.” The company is backed by Liberty Media, which has billionaire John Malone as its chairman. Malone is also the largest shareholder in the company. Liberty Media is a massive company that is split into three divisions based on its businesses. That includes Liberty Media Formula One (NASDAQ:FWONA,NASDAQ:FWONK), Liberty Sirius XM (NASDAQ:LSXMA,NASDAQ:LSXMK), and Liberty Braves (NASDAQ:BATRA, NASDAQ:BATRK). 7 Great Sub-$20 Stocks to Buy After Inauguration Day Liberty Media Acquisition Corporation IPO has the company offering a total of 50 million units at a price of $10 each. Each of these units contains one share of LMACU stock and one-fifth of a warrant to purchase another share with an exercise price of $11.50. The joint book-running managers of the Liberty Media SPAC IPO are Citigroup, Morgan Stanley, Credit Suisse, and Goldman Sachs. Members of the company’s management team are made up of executives from other Liberty Media companies. Also, Liberty Media’s stake in LMCA is attributed to the Formula One company. LMACU stock was up 30.2% as of Friday morning.InvestorPlace - Stock Market News, Stock Advice & Trading Tips On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Liberty Media SPAC IPO: 11 Things to Know as Liberty Launches LMACU Stock appeared first on InvestorPlace.
Liberty Media Corporation Announces Quarterly Interest Payment and Excess Regular Cash Dividend Amount on 2.25% Exchangeable Senior Debentures
Formula One, the motorsports owned by Liberty Media Formula One (NASDAQ: FWONA) (NASDAQ: FWONK), is in "active talks" with Amazon.com, Inc (NASDAQ: AMZN) to stream its Grand Prix races, the Financial Times reports.What Happened: Formula One is the world's most valuable motorsports series. F1's outgoing chief executive officer, Chase Carey, told Financial Times that he has held "substantive discussions with Amazon and all the global digital platforms" for new screening deals. Carey said that online streaming platforms are important potential partners and serve as an opportunity for F1 to expand its business.Reportedly, F1 wants to expand its audience and target younger fans who switch to watching sport online rather than traditional TV networks.Why It Matters: F1 is under pressure to find new revenue streams after the pandemic led to operating losses of $363 million in the first nine months of 2020, FT reports. Liberty Media was forced to furlough half its workforce and injected $1.4 billion cash in April to weather the pandemic.FT reports that Amazon did not comment on the story, but it has been one of the most aggressive platforms in bidding for live sports rights worldwide. Amazon has secured rights to stream National Football League matches in the US and the English Premier League in the United Kingdom. The Jeff Bezos-led internet giant is also looking to expand in the hot cricket streaming market in India. Facebook, Inc (NASDAQ: FB) has also joined the content-streaming bandwagon in India.FT notes that Amazon and other streaming platforms have been reluctant to offer the huge rights money that broadcasters have previously paid for F1. The biggest broadcasting deal for F1 is with Sky in the U.K., grossing $250 million a year until 2024.Price Action: AMZN shares closed marginally up by 0.1% at $3,206.52 on Tuesday.Image Courtesy: WikimediaSee more from Benzinga * Click here for options trades from Benzinga * Startups Target Small Merchants On Amazon's Platform For Acquisition: FT * Amazon Seeks Priority Access To COVID-19 Vaccine For Its Front-Line Workers(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.