---
schema_version: "secwatch.filing_event.v1"
accession: "0001560385-25-000011"
form_type: "8-K"
ticker: "FWONA"
cik: "0001560385"
company_name: "Liberty Media Corp"
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T07:59:11.089680+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Liberty Media Q1: F1 revenue down 27% to $403M; operating loss of $28M

## Summary
- Formula One Group revenue $447M vs $587M in Q1 2024; operating loss $67M vs income $95M.
- F1 Adjusted OIBDA $85M vs $208M; two races held vs three last year.
- Renewed Mexico GP through 2028, Miami GP through 2041; 2026 Concorde Agreement signed.
- Live Nation investment fair value $9.1B; no share repurchases Feb–Apr; $1.1B authorization left.
- Formula One Group cash $2.833B; F1 leverage 1.2x; MotoGP acquisition regulatory process ongoing.

## SEC filing metadata
- accession: 0001560385-25-000011
- form_type: 8-K
- ticker: FWONA
- cik: 0001560385
- company_name: Liberty Media Corp
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560385/000156038525000011/0001560385-25-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560385/000156038525000011/lmca-20250507x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001560385-25-000011
- JSON: https://secwatch.observer/filing/0001560385-25-000011.json
- Plain text: https://secwatch.observer/filing/0001560385-25-000011.txt

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