---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-053905"
form_type: "8-K"
ticker: "FWONA"
cik: "0001560385"
company_name: "Liberty Media Corp"
filed_at: "2025-05-29T23:59:59+00:00"
generated_at: "2026-05-20T05:47:59.544527+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Liberty Media enters forward contracts on up to 10.5M Live Nation shares to fund Split-Off liquidity

## Summary
- LNSPV enters variable forward contracts with Santander, Citibank, Morgan Stanley, Mizuho for up to 10,488,960 Live Nation shares.
- Contracts settle in cash or shares based on share prices over period ending Q1 2027; prepayments available for SplitCo's debenture obligations.
- No change to Liberty Media's beneficial ownership in Live Nation (approx. 30% as of Mar 31, 2025).
- Holders of 2.375% debentures due 2053 can put/exchange post-split-off; SplitCo may use forward prepayments for cash settlement.

## SEC filing metadata
- accession: 0001104659-25-053905
- form_type: 8-K
- ticker: FWONA
- cik: 0001560385
- company_name: Liberty Media Corp
- filed_at: 2025-05-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560385/000110465925053905/0001104659-25-053905-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560385/000110465925053905/tm2516412d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-053905
- JSON: https://secwatch.observer/filing/0001104659-25-053905.json
- Plain text: https://secwatch.observer/filing/0001104659-25-053905.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.