Liberty Media Corporation (LCAPB) Shares Hit 52 Week High

Shares of Liberty Media Corporation (Nasdaq: LCAPB) jumped more than 8% today, as the stock hit a 52 week high of $26.22.

Liberty Media Corporation manages a wide range of businesses in sectors such as electronic retailing, media, communications and entertainment.

Liberty Media Corporation announced today that it plans to commence a partial tender offer to buy as many as 34,500,000 shares of the common stock of Live Nation, Inc. (NYSE: LYV) for $12 per share. Live Nation's shares are up nearly 2% today.

Liberty Media Corporation currently owns 14.6% of Live Nation. That figure would increase to 34.9% if the tender offer is fully subscribed and completed.

The merger of Live Nation and Ticketmaster was given approval this week so Liberty Media is acting fast to gain a major stake in the company.