Liberty Media Q1 2024: F1 revenue up 45%, SiriusXM up 1%; announces €3.5B MotoGP acquisition

Liberty Media Corp

Liberty SiriusXM Group revenue $2.162B (+1% YoY); SiriusXM net income $265M, adj. EBITDA $650M (+4%).
Formula One Group revenue $587M (+54% YoY); operating income $136M vs $35M; adj. OIBDA $202M vs $105M.
Planned MotoGP acquisition for €3.5B equity value; expected close by year-end 2024; MotoGP mgmt retains 14%.
Live Nation investment fair value $7.4B; no share repurchases; remaining buyback authorization $1.1B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Liberty Media Corp updated its first quarter 2024 guidance (reaffirmed).

Period: first quarter 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 8, 2024, Liberty Media Corporation (the “Company”) issued a press release (the “Earnings Release”) setting forth information, including financial information, which is intended to supplement the financial statements and related Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on May 8, 2024.

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Source: SEC EDGAR

accession 0001560385-24-000010

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