Liberty Media Corp (FWONA): M&A transaction — Liberty Media completes split-off of Liberty Live Holdings; Liberty Live begins trading Dec 16

Liberty Media Corp

Effective at 4:05 p.m. Dec 15, 2025; each share of Liberty Live common stock exchanged for one share of Liberty Live Holdings common stock.
Liberty Live Holdings outstanding: ~25.6M Series A, 2.5M Series B, 63.8M Series C common stock.
Liberty Live Holdings includes ~69.6M Live Nation shares, QuintEvents, private assets, and ~$172M cash reattributed from Formula One Group.
Pro forma: Liberty Media (continuing ops) had $2.667B revenue and $477M net earnings for nine months ended Sep 30, 2025; total assets $15.749B.
Liberty Media’s Formula One common stock continues trading (FWONA, FWONK); Liberty Live Holdings begins trading Dec 16 on Nasdaq (LLYVA, LLYVK).

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Liberty Media Corp completed a disposition involving Liberty Live Holdings, Inc. (closed 2025-12-15).

Action: disposition
Counterparty: Liberty Live Holdings, Inc.
Closing: 2025-12-15

Exact text from the filing

On December 15, 2025 at 4:05 p.m., New York City time (the “ Effective Time ”), Liberty Media Corporation (the “ Company ”) completed its previously announced split-off (the “ Split-Off ”) of its former wholly owned subsidiary Liberty Live Holdings, Inc. (“ Liberty Live Holdings ”).

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Source: SEC EDGAR

accession 0001104659-25-121236

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