DBJ: Liberty Media makes Live Nation bid

Liberty Media Corp. dangled $414 million in front of Ticketmaster-Live Nation Entertainment investors Tuesday in an offer to buy their shares and boost Liberty Media’s stake in the newly merged company to 35 percent.

Douglas County-based Liberty Media offered to buy up to 34.5 million shares of Live Nation Entertainment Inc. (NYSE: LYV) stock at $12 each.

That’s a 14 percent premium over what the stock closed at Monday, the day that Ticketmaster and Live Nation won federal government approval of their merger. The combination of the two companies paired a ticket-selling giant with the highest-profile owner of venues and live musical talent.

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