---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-054982"
form_type: "8-K"
ticker: "FWONA"
cik: "0001560385"
company_name: "Liberty Media Corp"
filed_at: "2025-05-30T23:59:59+00:00"
generated_at: "2026-05-20T04:26:46.735131+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; $1.15B prepayment capacity for split-off

## Summary
- LN Holdings 1, LLC signs forward contracts with Santander, Citibank, Morgan Stanley, Mizuho covering up to 10,488,960 LYV shares.
- Initial Share Price $137.45, Forward Floor $109.96, Forward Cap $179.37; valuation period ends Q1 2027.
- Contracts allow prepayments up to ~$1.15B to provide liquidity for SplitCo to cash-settle debenture puts/exchanges.
- Liberty Media retains ~30% beneficial ownership in Live Nation; no change from entering contracts.

## SEC filing metadata
- accession: 0001104659-25-054982
- form_type: 8-K
- ticker: FWONA
- cik: 0001560385
- company_name: Liberty Media Corp
- filed_at: 2025-05-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560385/000110465925054982/0001104659-25-054982-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560385/000110465925054982/tm2516412d4_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-054982
- JSON: https://secwatch.observer/filing/0001104659-25-054982.json
- Plain text: https://secwatch.observer/filing/0001104659-25-054982.txt

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