SPO Partners Affiliate Completes Investment in Liberty Media Corporation

January 23, 2017

Affiliates of S&C client SPO Partners & Co. completed their previously announced investment in newly issued shares of Series C Liberty Media common stock. The proceeds from SPO's investment, as well as those from other third-party investors investing simultaneously, were used to finance Liberty Media Corporation's acquisition of Formula 1, the global motorsports business, which also closed on January 23.
SPO is a San Francisco-based private equity investment firm that focuses on concentrated, long-term investments in public and private companies across a wide range of industries.
Liberty Media Corporation operates and owns interests in a broad range of media, communications and entertainment businesses, which are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Liberty Media Group. Liberty Media's interest in Formula 1 will be attributed to the Liberty Media Group, which was renamed to the Formula One Group at closing.
The S&C Los Angeles-based team advising SPO on the transaction consisted of Patrick Brown, Rita-Anne O'Neill and Edward Xia.