Liberty Media on Tuesday said it launched a partial tender offer to more than double its stake in Live Nation Entertainment, the new company formed by the merger of concert promoter Live Nation and Ticketmaster.

The Englewood media company controlled by John Malone said that it wants to acquire up to 34.5 million shares of the new company. It will pay $12 per share, representing a 14 percent premium the old Live Nation’s Monday closing price of $10.51.

Liberty Media, which owns the Starz cable channels, the QVC Shopping Network and stable of Web properties, said the purchase would increase its stake from 14.6 percent to 34.9 percent of outstanding shares. The company has an agreement with Live Nation that allows it to own up to 35 percent.

The Live Nation and Ticketmaster merger closed late Monday after the deal was cleared by U.S. and Canadian anti-trust regulators.

Separately, Comcast-Spectacor LP said it signed a letter of intent to purchase Paciolan Inc., a ticketing company that Ticketmaster had to divest to win U.S. Justice Department approval of the merger. Comcast-Spectacor already has 50 accounts through its New Era Tickets subsidiary, which last year sold 10 million tickets, it said.

Live Nation Entertainment shares were up $1.72, or 16 percent, to $12.23 in midday trading on the New York Stock Exchange.