09:26 AM EST, 11/13/2024 (MT Newswires) -- Liberty Media ( LLYVB ) (FWONA, FWONK, LLYVA, LLYVK) said Wednesday that it is looking to split off its Liberty Live Group to simplify its capital structure.

Under the proposed plan, Liberty Media ( LLYVB ) said its Quint unit would be shifted to the Liberty Live Group from the Formula One Group just before the split in exchange for certain private assets. The company added that any cash consideration would be determined based on relative valuations at the time of the reattribution.

Liberty Media ( LLYVB ) said it expects to complete the split-off in H2 2025, after which Liberty Media ( LLYVB ) and new entity Liberty Live would become separate publicly traded companies, with Liberty Media ( LLYVB ) holding the motorsport businesses and related investments.