tional and local opportunities that allow businesses to reach customers through its concert, venue, artist relationship and ticketing assets, including advertising on Live Nation Websites. Live Nation also develops, books, and produces custom events or programs for its clients’ specific brands which are typically experienced exclusively by the clients’ customers. These custom events can involve live music events with talent and media, using both online and traditional outlets. Terms of Live Nation Investment As of December 31, 2014, the company beneficially owned approximately 53.7 million shares of Live Nation common stock, which represented approximately 27% of the issued and outstanding shares, as of December 31, 2014. Other Minority Investments The company also owns a portfolio of minority equity investments in publicly traded media companies, including Barnes & Noble, Inc.; Time Warner Inc.; and Viacom Inc. Regulations Satellite Digital Audio Radio Services: As an operator of a privately owned satellite system, SIRIUS XM is regulated by the Federal Communications Commission (FCC) under the Communications Act of 1934, principally with respect to: the licensing of its satellite systems; preventing interference with or to other uses of radio frequencies; and compliance with FCC rules established specifically for U.S. satellites and satellite radio services. Competition SIRIUS XM faces competition as a result of the deployment or planned deployment by all automakers of integrated multimedia systems in dashboards, such as Ford's SYNC, Toyota's Entune, and BMW/Mini's Connected.
liberty media corp - b (LMCB:NASDAQ GS)
12300 Liberty Boulevard
Englewood, CO 80112
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