tyb's
Formula One Group sold by John Malone-Liberty Media-: $18.10m-June 17-18
Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. The Company's principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc. (SIRIUS XM) and Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc. (Live Nation). The Company's segments are SIRIUS XM, and Corporate and other. SIRIUS XM provides a subscription-based satellite radio service. Through its subsidiaries and affiliates, the Company principally operates in North America. The Company also owns a portfolio of minority equity investments in publicly traded media companies, including Time Warner, Inc. and Viacom, Inc. SIRIUS XM transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through two satellite radio systems.
Number of employees : 6 667 people.
from June 16th, 2020
Liberty Media Corporation Announces Completion of Rights Offering
Liberty Media Corporation (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) ("Liberty"), announced today the completion of its rights offering, which expired in accordance with its terms at 5:00 p.m., New York City time, on June 5, 2020. The net proceeds from the rights offering will be used to repay in full the $750 million intergroup loan obligation from the Liberty SiriusXM Group to the Formula One Group created in connection with the previously announced reattribution of certain assets and liabilities between the Liberty SiriusXM Group and the Formula One Group. Liberty has been informed by the subscription agent that the rights offering was fully subscribed, with 29,594,089 shares of Series C Liberty SiriusXM common stock to be issued to those rightsholders exercising basic and, if applicable, oversubscription privileges. Approximately 97% of the shares to be issued as a result of the rights offering were subscribed for pursuant to validly exercised basic subscription privileges. As a result, the remaining shares available for issuance to those rightsholders validly exercising oversubscription privileges will be allocated pro rata based on the number of rights underlying such rightsholders’ basic subscription privilege. There is no single proration factor for this allocation due to the process by which the subscription agent allocates the remaining shares, which involves multiple rounds of proration among the validly oversubscribing rightsholders.
https://finance.yahoo.com/news/liberty-media-corporation-announces-completion-120000972.html
Largest Private Landowner in the U.S.
No. 1 John Malone-2,200,000 acres
To the nation’s largest landowner, one of the most valuable attributes of his timberland and ranchland holdings is the benefits to society of good stewardship. In Maine, for instance, Malone’s million-plus acre BBC LAND holdings use photosynthesis to absorb enormous amounts of carbon dioxide, the main heat-trapping greenhouse gas found in fossil fuel emissions. (Keep in mind that the US Forest Service estimates that our nation’s forests offset between 10 and 20 percent of the country’s annual carbon emissions.) Although the means are different out West on Malone’s SILVER SPUR RANCHES, the end is equally laudable. At New Mexico’s BELL RANCH, sustainable grazing practices ensure the health and balance of native grasses and prairie while keeping carbon sequestered in undisturbed soils. Only horses’ hooves and cow tracks impact grasslands and soils, storing carbon, reducing erosion, and ensuring food security.
THE FULL LIST: AMERICA’S 100 LARGEST LANDOWNERS 2019
https://landreport.com/americas-100-largest-landowners/
https://www.finviz.com/insidertrading.ashx?oc=937797&tc=7
China's Central Bank Vows To Expand Total Credit By 30% Of GDP In 2020
One of the curiosities about the current global financial crisis is that unlike the global financial crisis of 2008 when a massive credit injection by China sparked a generous reflationary wave around the world which pulled it out of a deflationary slump, this time around China has been far more modest as Cap #1 shows.
All that may be about to change.
Speaking in a financial forum in Shangha, China's central bank governor Yi Gang said that China will keep liquidity ample in the second half of the year, but it should consider in advance the timely withdrawal of policy measures aimed at countering the effects of the COVID-19 pandemic. “The financial support during the epidemic response period is (being) phased, we should pay attention to the hangover of the policy,” Yi said. “We should consider the timely withdrawal of policy tools in advance.”
In other words, just like the Fed, China is pretending that whatever is coming will be temporary. Which, in a world of helicopter money will never again be the case.
But more importantly, we know that in order to boost its stagnating economy, China is about to unleash a historic credit injection: Yi said that new loans are likely to hit nearly 20 trillion yuan ($2.83 trillion) this year, up from a record 16.81 trillion yuan in 2019, and total social financing could increase by more than 30 trillion yuan ($4.2 trillion), or about 30% of GDP. A similar number for the US would be about $7 trillion which is more or less what the US deficit will be over the next 12 months.
In other words, we're going to need a much bigger chart of China's broad credit. Yi added that the bank’s balance sheet remains stable around 36 trillion yuan.
While the PBOC has already rolled out a raft of easing steps since early February, including cuts in reserve requirements and lending rates and targeted lending support for virus-hit firms, it has yet to proceed with a major fiscal blast. Meanwhile, analysts expect the central bank to ease policy further to bolster economy.
An in an amusing tangent, Reuters reported that Guo Shuqing, chairman of the banking and insurance regulator, told the same forum that China will not monetize fiscal deficits - in other words launch full-blown quantitative easing - and will not adopt negative interest rates. We wonder how long this promise will be kept.
It takes time for global supply chains to recover, and economies around the world have to re-think how to exit from massive easing measures that were rolled out in response to the coronavirus pandemic, said Guo.
https://www.zerohedge.com/markets/chinas-central-bank-vows-expand-total-credit-30-gdp-2020