Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 ...

Financial Data and Key Metrics Changes - Liberty SiriusXM Group had attributed cash, restricted cash, and liquid investments of $54 million, excluding $90 million of cash and restricted cash held directly at SiriusXM [18] - The value of SiriusXM common stock held by Liberty SiriusXM was $22 billion as of November 8, with a total principal amount of debt of $9 billion [18][19] - Formula One Group had attributed cash and liquid investments of $65 million, excluding $354 million of cash at F1, with a total principal amount of debt of $5 billion [19][20] Business Line Data and Key Metrics Changes - SiriusXM reported robust subscriber growth and solid expansion of adjusted EBITDA and free cash flow, with over $2 billion returned to shareholders year-to-date [10][11] - Formula One Group made significant progress regarding regulations for 2021 and beyond, with new rules aimed at enhancing competition and sustainability [23][24] - Liberty TripAdvisor faced challenges in the hotel click-based auction, but plans to return capital to shareholders with a dividend of $3.50 per share [15][16] Market Data and Key Metrics Changes - Average weekend attendance for Formula One events was 204,000, up 2% year-on-year, with record crowds in Italy and Mexico [29][30] - TV viewership for Formula One was up 7% through 15 races [29] Company Strategy and Development Direction - Formula One is focusing on new regulations to improve on-track competition and sustainability, including a cost cap of $175 million per season [23][24] - The company is enhancing its sponsorship and advertising strategies, with increased engagement and interest from potential partners [52][88] - Liberty Media is exploring opportunities in the podcasting space, emphasizing the growth potential in audio content [56][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum of the sport, citing positive trends in attendance and viewership [47][92] - The company is optimistic about the future growth of Formula One, with plans for a record 22-race season in 2020 [31][38] - Management acknowledged the challenges faced by Liberty TripAdvisor but highlighted the strong free cash flow generation [15][16] Other Important Information - Formula One extended its partnership with ESPN until 2022, resulting in a 19% increase in U.S. viewership since returning to ESPN in 2018 [32] - The company is actively working on new sponsorship deals, including a significant partnership with Caterpillar [65][88] Q&A Session Summary Question: Timing for commercial agreements with teams - Management aims to finalize agreements as soon as possible, with ongoing discussions and no specific deadlines set [45][47] Question: Competitive dynamics around broadcasting deals - There was increased interest from bidders compared to previous years, indicating a positive outlook for U.S. market growth [46][47] Question: Growth outlook for sponsorship and advertising - Sponsorship interest has increased, with management optimistic about converting engagement into revenue [52][53] Question: Payments to teams in commercial agreements - Management refrained from commenting on specific deal components but emphasized fairness in proposals [62][63] Question: Update on Miami Grand Prix - Local political issues need resolution in the short term for the race to proceed in 2021 [85] Question: Key unsold verticals in sponsorship - Engagement with potential partners is high across various sectors, including finance and technology [88] Question: Leverage targets and buybacks - Management is considering share repurchase options as free cash flow generation increases [110]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 (Stat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 37-1699499 (Sta ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10‑K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35707 LIBERTY MEDIA CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware (State or other juri ...