Liberty gets U.S. OK for Live Nation share boost

WASHINGTON (Reuters) - Media mogul John Malone's Liberty Media Corp (LINTA.O) LSTZA.O LCAPA.O has won U.S. antitrust approval to increase its stake in Live Nation Entertainment Inc (LYV.N), the Federal Trade Commission said on Monday.

The commission put the deal on a list of approved transactions that it issues several times a week.

Liberty Media started a tender offer on Monday for up to 34.2 million Live Nation shares at $12.00 each.

Liberty, which announced its plans for the offer last week, said it already owns about 14.6 percent of Live Nation shares and if its tender were fully subscribed, its ownership would increase to about 34.9 percent.

Liberty said it already has an agreement in place that permits it to buy up to 35 percent of the outstanding shares of Live Nation.

Live Nation has appeared cool to Liberty's overtures, asking its stockholders last week to defer action on Liberty's offer.

Live Nation completed an $870-million acquisition of Ticketmaster last week.

(Reporting by Diane Bartz, editing by Gerald E. McCormick)