Revenue Performance - Formula One Group reported Q4 2024 revenue of $1,230 million, a decrease of 8% compared to Q4 2023 revenue of $1,126 million[7]. - For the full year 2024, Formula One Group revenue was $3,222 million, reflecting a 6% increase from $3,411 million in 2023[7]. - Formula 1 revenue for the twelve months ended December 31, 2024, was $3,318 million, an increase from $3,222 million in 2023[38][41]. - Total revenue for Liberty Media Corporation in 2024 was $3,653 million, compared to $3,572 million in 2023, reflecting growth in various segments[38][41]. Operating Income and Adjusted OIBDA - Adjusted OIBDA for Formula One Group in Q4 2024 was $243 million, down 15% from $200 million in Q4 2023[10]. - Formula One Group's operating income for Q4 2024 was $122 million, significantly up from $23 million in Q4 2023[7]. - Operating income for Formula One Group was $287 million for the twelve months ended December 31, 2024, compared to $297 million in 2023[38][41]. - The Formula One Group's Adjusted OIBDA for 2023 was $686 million, reflecting operational strength despite a decrease from $774 million in 2024[50]. Cash Flow and Debt Management - Total cash and cash equivalents attributed to Formula One Group decreased by $35 million during Q4 2024, primarily due to cash used in operations and capital expenditures[30]. - Total debt attributed to Formula One Group remained relatively flat at $2,928 million as of December 31, 2024, with a leverage ratio of 1.3x[30][36]. - Total cash and cash equivalents attributed to Liberty Live Group decreased by $63 million during Q4 2024, mainly due to debt reduction and interest payments[31]. - Total attributed Liberty Live Group debt decreased by $50 million during the quarter, settling the remaining 0.5% Live Nation exchangeable senior debentures due 2050[31]. - The company reported a net cash increase of $935 million in cash, cash equivalents, and restricted cash, ending the period with $2,963 million[45]. - The company reported $1,165 million in borrowings of debt, while repayments totaled $1,008 million, resulting in a net cash used by financing activities of $285 million[45]. Corporate Developments and Strategic Initiatives - Liberty Media extended the regulatory approval date for the MotoGP acquisition to June 30, 2025[2]. - The company is planning to acquire MotoGP, which is expected to enhance its market position and growth potential[33]. - Liberty Media has a remaining share repurchase authorization of $1.1 billion as of February 1, 2025[22]. Earnings and Financial Performance - Net earnings attributable to Liberty stockholders for the twelve months ended December 31, 2024, were a loss of $2,063 million, significantly impacted by discontinued operations[38][41]. - Net earnings for Liberty Media Corporation were $962 million for the twelve months ended December 31, 2023, compared to a net loss of $2,475 million in the previous period[45]. - Cash flows from operating activities provided $634 million, a significant increase from the previous period's cash used of $14 million[45]. - Liberty Media incurred $32 million in costs related to corporate acquisitions and a $73 million non-cash impairment charge during the year ended December 31, 2024[50]. - The company recognized $167 million in realized and unrealized gains on financial instruments, contributing positively to its financial performance[45]. Race and Event Statistics - The total number of races held in 2024 was 24, compared to 22 in 2023, with 6 races in Q4 for both years[12]. - Formula One Group's primary revenue streams for 2024 comprised 29.3% from race promotion, 32.8% from media rights, and 18.6% from sponsorship fees[11]. Other Financial Metrics - Corporate and Other revenue grew in Q4 2024 due to the inclusion of Quint results and rental income from the Las Vegas Grand Prix Plaza[19]. - Stock-based compensation expenses amounted to $29 million, indicating ongoing investment in employee incentives[45]. - Capital expenditures for property and equipment totaled $461 million, including $35 million for internal-use software and website development[45].

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, 2024 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 ...

Group 1 - Liberty Media Corporation - Liberty Formula One Series C (FWONK) is part of the Consumer Discretionary sector, which includes 265 individual stocks and holds a Zacks Sector Rank of 2 [2] - The Zacks Rank system indicates that FWONK has a Zacks Rank of 1 (Strong Buy), suggesting it has characteristics to outperform the market in the near term [3] - The Zacks Consensus Estimate for FWONK's full-year earnings has increased by 25.2% in the past quarter, indicating improved analyst sentiment and earnings outlook [4] Group 2 - FWONK has gained approximately 7.4% year-to-date, outperforming the average gain of 4.4% for Consumer Discretionary stocks [4] - In comparison, Ralph Lauren (RL), another Consumer Discretionary stock, has increased by 16.3% year-to-date and has a Zacks Rank of 2 (Buy) [5] - FWONK belongs to the Media Conglomerates industry, which includes 13 companies and currently ranks 46 in the Zacks Industry Rank, with an average gain of 1.4% this year [6] Group 3 - Ralph Lauren is part of the Textile - Apparel industry, which consists of 21 stocks and is ranked 57, with a year-to-date gain of 1.2% [7] - Both FWONK and Ralph Lauren are showing solid performance, making them noteworthy for investors interested in Consumer Discretionary stocks [7]

Core Viewpoint - Liberty Media Corporation - Liberty Formula One Series C has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Liberty Media Corporation for the fiscal year ending December 2024 is projected at $1.36 per share, reflecting a substantial increase of 119.4% compared to the previous year [9]. - Over the past three months, analysts have raised their earnings estimates for Liberty Media Corporation by 13.3% [9]. Zacks Rating System - The Zacks rating system is based on changes in earnings estimates, which are crucial for predicting near-term stock price movements [2][3]. - The system classifies stocks into five groups, with Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell), and has shown a strong track record, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988 [8]. Investment Implications - The upgrade to Zacks Rank 2 positions Liberty Media Corporation in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [11]. - Rising earnings estimates and the corresponding rating upgrade indicate an improvement in the company's underlying business, which could lead to increased buying pressure and a higher stock price [6][4].

Financial Performance - Liberty Media reported total revenue for the Formula One Group of $911 million in Q3 2024, a 3% increase from $887 million in Q3 2023[4] - Formula 1's operating income increased to $146 million in Q3 2024, up 11% from $132 million in Q3 2023[6] - Adjusted OIBDA for the Formula One Group rose to $207 million in Q3 2024, a 5% increase from $197 million in Q3 2023[4] - Total revenue for the three months ended September 30, 2023, was $936 million, with Formula One Group contributing $887 million[33] - Operating income for the same period was $101 million, with Formula One Group generating $107 million in operating income[33] - Net earnings attributable to Liberty stockholders for the three months ended September 30, 2023, were $385 million, including $291 million from discontinued operations[33] - For the nine months ended September 30, 2024, net cash provided by operating activities was $576 million, with Formula One Group contributing $587 million[35] - The company reported a depreciation and amortization expense of $263 million for the nine months ended September 30, 2024[35] - The company incurred $3 million in impairment and acquisition costs during Q3 2024 for the Formula One Group[42] Debt and Financing - Total debt attributed to Formula One Group remained relatively flat at $2,920 million as of September 30, 2024, with a leverage ratio of 1.3x[23][24] - Liberty Media's total attributed debt as of September 30, 2024, was $4,215 million, reflecting a decrease of $12 million in Liberty Live Group's debt[29] - The margin on Formula One's Term Loan B was permanently reduced from 2.25% to 2.00%, with potential further reduction based on leverage tests[24] - Liberty Media is in compliance with its debt covenants as of September 30, 2024[21] - Liberty Media completed a public offering of 12.2 million FWONK shares for gross proceeds of $949 million in Q3 2024[1] - Liberty Media issued 12.2 million shares of Series C Formula One common stock for gross proceeds of $949 million to fund the acquisition of Dorna Sports, S.L.[22] Cash and Liquidity - Total cash and cash equivalents attributed to Formula One Group increased by $1,175 million during the third quarter, primarily due to equity issuance and cash from operations[22] - Cash and cash equivalents at the end of the period were $3,054 million, reflecting an increase of $1,033 million during the period[35] - Liberty Live Group's total cash and cash equivalents decreased by $18 million during the third quarter, primarily due to net debt repayment and interest payments[25] - Total cash and cash equivalents at the end of the period were $2,120 million, with $1,470 million from the Formula One Group and $335 million from Liberty SiriusXM Group[36] - Cash flows from operating activities provided $580 million, while investing activities used $425 million, resulting in a net cash used of $276 million from financing activities[36] Partnerships and Investments - Liberty Media announced new multi-year partnerships with LVMH and Lenovo, along with licensing deals with LEGO and Mattel Hot Wheels for F1 products launching in 2025[1] - The fair value of Live Nation investment attributed to Liberty Live Group was $7.6 billion as of September 30, 2024, up from $6.5 billion in the previous year[18] - The planned acquisition of MotoGP is expected to enhance market potential and financial performance for Liberty Media[27] Attendance and Engagement - Race attendance for Formula 1 reached 5.8 million season-to-date, with sellout crowds at nearly all races[5] - Corporate level selling, general and administrative expenses for the Formula One Group were $21 million in Q3 2024[3] Historical Comparisons - Adjusted OIBDA for the Formula One Group was $197 million for Q3 2023, projected to increase to $207 million in Q3 2024[42] - Liberty Live Group reported an operating loss of $5 million in Q3 2023, with an expected improvement to a loss of $3 million in Q3 2024[42] - Net earnings for the nine months ended September 30, 2023, were $798 million, with the Formula One Group contributing $124 million and Liberty SiriusXM Group contributing $802 million[36]

Liberty Media Corporation - Liberty Formula One Series C (FWONK) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this company would post earnings of $0.32 per share when it actually produced earnings of $0.10, delivering a surprise of -68.75%.O ...

The core asset of Liberty Media, Formula 1 (NASDAQ: FWONK ), will benefit from tailwinds including hikes in sports media rights, an extended race calendar, and better monetization of sponsorship, hospitality, and digital mediums. F1 is the 3Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving comp ...

Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Has Liberty Media Corporation - Liberty Formula One Series C (FWONK) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question. Liberty Media Corporation - Liberty Formula One Series C is a member of the Consumer Discretionary sector. This group i ...

Exhibit 99.1 LIBERTY MEDIA CORPORATION REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Englewood, Colorado, May 8, 2024- Liberty Media Corporation ("Liberty Media" or "Liberty") (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) today reported first quarter 2024 results. Headlines include (1): 1 ● Attributed to Liberty SiriusXM Group o SiriusXM reported first quarter 2024 operating and financial results ◾ First quarter 2024 revenue of $2.16 billion; up 1% year-over-year ◾ Ad revenue up 7% year-over-year ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q Englewood, Colorado 80112 (Address of principal executive offices) (Zip Code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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 nam ...