---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-121236"
form_type: "8-K"
ticker: "FWONA"
cik: "0001560385"
company_name: "Liberty Media Corp"
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:13:03.164154+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Liberty Media completes split-off of Liberty Live Holdings; Liberty Live begins trading Dec 16

## Summary
- 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).

## SEC filing metadata
- accession: 0001104659-25-121236
- form_type: 8-K
- ticker: FWONA
- cik: 0001560385
- company_name: Liberty Media Corp
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 3.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560385/000110465925121236/0001104659-25-121236-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560385/000110465925121236/tm2533345d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-121236
- JSON: https://secwatch.observer/filing/0001104659-25-121236.json
- Plain text: https://secwatch.observer/filing/0001104659-25-121236.txt

## Source-grounded claims
- claim_id: c71afee762fabeafd4a7c0e2b268a09d45006985
  claim: Liberty Media Corp completed a disposition involving Liberty Live Holdings, Inc. (closed 2025-12-15).
  evidence_excerpt: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1560385/000110465925121236/0001104659-25-121236-index.htm

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