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]. - Formula One Group's total revenue for the three months ended September 30, 2024, was $911 million, with $848 million attributed to Formula 1 revenue[31]. - Operating income for Formula One Group was $110 million, while consolidated operating income was $107 million for the same period[31]. - 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 for the Formula One Group were $124 million, while Liberty Live Group reported a loss of $19 million, and Liberty SiriusXM Group had net earnings of $802 million, resulting in consolidated net earnings of $798 million[36]. - Liberty Media's consolidated operating income for the third quarter was $101 million, with a projected increase to $107 million for the next quarter[42]. Debt and Financing - Total attributed debt for Formula One Group was $2,912 million as of September 30, 2024, with a leverage ratio of 1.3x[20][21]. - Liberty Media's total attributed debt as of September 30, 2024, was $4,215 million[20]. - 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]. - The company secured $850 million in incremental Term Loan B and $150 million in Term Loan A commitments for the MotoGP transaction[1]. - Cash flows from financing activities resulted in a net cash used of $(276) million, with significant debt repayments of $(1,002) million[36]. Cash and Cash Equivalents - 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 nine months[35]. - Total cash and cash equivalents and restricted cash at the end of the period were $3,061 million[35]. - The company reported a net cash used by investing activities of $172 million for the nine months ended September 30, 2024[35]. - Total cash and cash equivalents at the end of the period amounted to $2.12 billion, with $1.47 billion from the Formula One Group and $335 million from Liberty SiriusXM Group[36]. - The company reported a net increase in cash of $(156) million for the period, with cash equivalents at the beginning of the period totaling $2.276 billion[36]. Investments and Acquisitions - 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 a year earlier[18]. - 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]. - The planned acquisition of MotoGP is expected to enhance market presence and operational capabilities for Liberty Media[27]. Partnerships and Sponsorships - Liberty Media announced new multi-year partnerships with LVMH and expanded agreements with Lenovo and American Express[5]. Race Attendance - Race attendance for Formula 1 reached 5.8 million season-to-date, with sellout crowds at nearly all races[5]. - The number of races held in Q3 2024 was 7, compared to 8 in Q3 2023, impacting media rights and sponsorship revenue[7].

Financial Position - As of September 30, 2024, the Formula One Group had cash and cash equivalents of approximately $2,666 million, including $1,449 million of subsidiary cash[140]. - Total cash and cash equivalents for Formula One Group as of September 30, 2024, amounted to $2,666 million, with $1,383 million held by Formula 1 and $1,283 million in corporate and other[166]. - Cash provided by operating activities for Formula One Group was $587 million for the nine months ended September 30, 2024, compared to $554 million in the prior year[170]. - Cash equivalents as of September 30, 2024, were $2,677 million, compared to $1,053 million as of December 31, 2023[78]. - Total liabilities decreased to $5,749 million as of September 30, 2024, from $21,882 million at December 31, 2023[6]. - Total assets as of December 31, 2023, amounted to $29.901 billion, with current assets at $1.361 billion and long-term debt at $10.063 billion[36]. - Total liabilities and equity as of September 30, 2024, amounted to $13,208 million, a decrease from $41,327 million as of December 31, 2023[9]. - Retained earnings as of September 30, 2024, were $7,520 million, down from $15,061 million as of December 31, 2023[9]. Revenue and Earnings - Consolidated revenue decreased by $25 million to $911 million for the three months ended September 30, 2024, compared to the prior year, primarily due to a decrease in Braves Holdings revenue and Formula 1 revenue[146]. - For the nine months ended September 30, 2024, consolidated revenue increased by $144 million to $2,486 million, driven by an increase in Formula 1 revenue and revenue from QuintEvents[146]. - Primary Formula 1 revenue decreased by $32 million to $758 million for the three months ended September 30, 2024, compared to $790 million in the same period last year, primarily due to one less event held[178]. - Total Formula 1 revenue for the nine months ended September 30, 2024, increased by $293 million to $2,285 million, driven by two additional events held compared to the prior year[180]. - Net earnings from continuing operations for the three months ended September 30, 2024, were $132 million, compared to $152 million for the same period in 2023, while for the nine months, it was $294 million versus $41 million in 2023[163]. - Net earnings for the three months ended September 30, 2024, were $(2,870) million, compared to $443 million for the same period in 2023[16]. - Comprehensive earnings attributable to Liberty stockholders for the nine months ended September 30, 2024, were $(2,429) million, a decrease from $421 million in 2023[16]. Acquisitions and Investments - The Company completed the acquisition of QuintEvents, LLC for total consideration of approximately $277 million, which included $205 million in cash[135]. - Liberty Media Corporation acquired QuintEvents, LLC for approximately $277 million, including $205 million in cash and $6 million for a pre-existing condition, resulting in $235 million of goodwill recorded[27]. - The company agreed to acquire approximately 86% of Dorna Sports, S.L. for about €3.0 billion, funded with cash and foreign currency forward contracts[28]. - Liberty issued approximately 12.2 million shares of Series C Liberty Formula One common stock at $77.50 per share, generating gross proceeds of approximately $949 million to partially fund the Dorna acquisition[28]. - The company recorded $121 million of deferred revenue as a result of the QuintEvents acquisition[28]. - The company expects to use net proceeds from the stock offering for general corporate purposes in addition to funding the Dorna acquisition[28]. Operational Performance - Operating income for Formula 1 increased by $14 million to $146 million for the three months ended September 30, 2024, and increased by $118 million to $366 million for the nine months ended September 30, 2024[147][148]. - Adjusted OIBDA increased by $9 million to $205 million for the three months ended September 30, 2024, and increased by $117 million to $570 million for the nine months ended September 30, 2024[152]. - The company reported an operating cost of $804 million for the three months ended September 30, 2024, compared to $835 million in the same period of 2023, indicating a reduction of 3.7%[11]. - Selling, general and administrative expenses rose by $22 million to $79 million for the three months ended September 30, 2024, primarily due to higher personnel and IT costs[184]. - The cost of services for the three months ended September 30, 2024, was $792 million, down 25.1% from $1,057 million in the same period in 2023[39]. Risks and Challenges - The Company’s ability to realize benefits from acquisitions or strategic investments is a key factor influencing future performance[125]. - The operational risks of subsidiaries and business affiliates outside the U.S. could materially affect results[125]. - The Company’s financial condition is subject to various risks, including changes in consumer demand and economic conditions[125]. - The company anticipates potential impacts from economic conditions and consumer demand fluctuations on its operations and financial performance[122]. Stockholder Information - Basic net earnings from continuing operations attributable to Liberty stockholders for Series A, B, and C Liberty Formula One common stock was $0.48 for the three months ended September 30, 2024, down from $0.50 in the same period of 2023[14]. - Basic earnings attributable to Liberty Formula One stockholders for the three months ended September 30, 2024, were $117 million, compared to $118 million for the same period in 2023[67]. - Diluted earnings attributable to Liberty Formula One stockholders for the three months ended September 30, 2024, were $117 million, up from $95 million in the same period of 2023[67]. - The company experienced a share of earnings from affiliates of $116 million for the three months ended September 30, 2024, down from $143 million in the same period of 2023[11].

Financial Position - As of June 30, 2024, the Liberty SiriusXM Group had cash and cash equivalents of approximately $188 million, including about $100 million of subsidiary cash[170]. - The Formula One Group had cash and cash equivalents of approximately $1,491 million, which included $1,303 million of subsidiary cash[172]. - Liberty had cash and cash equivalents of $188 million for the Liberty SiriusXM Group and $1,491 million for the Formula One Group as of June 30, 2024[200]. - Liberty's cash provided by operating activities for the six months ended June 30, 2024, was $753 million, a decrease from $854 million in the prior year[202]. - Liberty expects to fund its projected uses of cash with cash on hand, borrowing capacity, and dividends from operating subsidiaries[204]. - Liberty's primary uses of cash during the six months ended June 30, 2024, included $205 million for acquisitions and $103 million for debt repayments[202]. Revenue Performance - Consolidated revenue decreased by $78 million for the three months ended June 30, 2024, compared to the same period in the prior year, primarily due to a decrease in Braves Holdings revenue and Sirius XM Holdings revenue[178]. - Consolidated revenue increased by $115 million for the six months ended June 30, 2024, driven by increases in Formula 1 revenue and revenue from QuintEvents, which was acquired in January 2024[178]. - Total revenue for Sirius XM Holdings decreased to $4.340 billion for the six months ended June 30, 2024, compared to $4.394 billion in the prior year[215]. - SiriusXM subscriber revenue decreased by 5% and 3% for the three and six months ended June 30, 2024, respectively, primarily due to a reduction in self-pay revenue[215]. - Pandora and Off-platform subscriber revenue increased by 7% and 5% during the three and six months ended June 30, 2024, respectively, driven by rate increases on subscription plans[219]. - SiriusXM advertising revenue decreased by 2% for both the three and six months ended June 30, 2024, primarily due to lower revenue from entertainment channels[216]. - Primary Formula 1 revenue increased by $121 million and $270 million during the three and six months ended June 30, 2024, respectively, driven by the calendar variance with more events[233]. - Total Formula 1 revenue reached $871 million for the three months and $1,424 million for the six months ended June 30, 2024, compared to $724 million and $1,105 million in the prior year[233]. Operating Income and Expenses - Consolidated operating income increased by $5 million for the three months ended June 30, 2024, primarily due to increases in Sirius XM Holdings and Formula 1 operating results[179]. - Consolidated operating income increased by $167 million for the six months ended June 30, 2024, primarily driven by increases in Formula 1 and Sirius XM Holdings operating results[179]. - Adjusted OIBDA decreased by $34 million for the three months ended June 30, 2024, primarily due to the Split-Off of Braves Holdings and a decrease in Sirius XM Holdings Adjusted OIBDA[185]. - Adjusted OIBDA increased by $104 million for the six months ended June 30, 2024, primarily driven by increases in Formula 1 and QuintEvents Adjusted OIBDA[185]. - Stock-based compensation expense was $116 million for the six months ended June 30, 2024, compared to $110 million for the same period in 2023[181]. - Other costs increased by $35 million and $64 million for the three and six months ended June 30, 2024, respectively, primarily due to higher commissions and partner servicing costs associated with increased Formula 1 revenue streams[239]. - Selling, general and administrative expenses rose by $16 million and $17 million during the three and six months ended June 30, 2024, respectively, mainly due to higher personnel and information technology costs[239]. - Customer service and billing costs decreased by 12% and 9% for the three and six months ended June 30, 2024, respectively, driven by lower call center costs and transaction fees[221]. - Other operating expenses decreased by 17% and 4% for the three and six months ended June 30, 2024, respectively, driven by higher capitalized personnel-related costs[227]. Earnings and Taxation - Net earnings were $507 million and $752 million for the three and six months ended June 30, 2024, respectively, compared to $303 million and $355 million for the same periods in 2023[197]. - Income tax expense for the three and six months ended June 30, 2024, was $116 million and $187 million, respectively, compared to $64 million and $114 million in the prior year[196]. - The company recognized tax expense less than the expected federal rate of 21% primarily due to certain gains that are not taxable and tax credits from clean energy investments[196]. Strategic Transactions - The Company completed the split-off of Atlanta Braves Holdings on July 18, 2023, exchanging each outstanding share of Liberty Braves common stock for one share of Atlanta Braves Holdings common stock[165]. - On August 3, 2023, the Company reclassified its outstanding shares into three new tracking stocks: Liberty SiriusXM common stock, Liberty Formula One common stock, and Liberty Live common stock[166]. - The anticipated completion date for the proposed Transactions, including the Liberty Sirius XM Holdings Split-Off and the Merger, is September 9, 2024[174]. - The Liberty Sirius XM Holdings Split-Off is intended to be tax-free to holders of Liberty SiriusXM common stock, except for cash received in lieu of fractional shares[168]. - The Split-Off of Braves Holdings did not represent a strategic shift that had a major effect on the Company's operations and financial results[175]. Market and Operational Risks - The Company faces operational risks from subsidiaries and business affiliates with operations outside of the U.S.[158]. - The company is exposed to market risk from adverse changes in stock prices and interest rates, with ongoing monitoring of stock market changes and specific holdings[241]. - As of June 30, 2024, the company’s fixed rate debt amounted to $9.91 billion with a weighted average interest rate of 4.2%[242]. - The company’s variable rate debt totaled $945 million with a weighted average interest rate of 7.3%[242]. - The market price of Live Nation stock, a publicly traded security, could result in a $653 million decrease in value if it were 10% lower at June 30, 2024[244]. Subscriber Metrics - As of June 30, 2024, SiriusXM had approximately 33.3 million subscribers, while Pandora had approximately 45.1 million monthly active users and 6.0 million subscribers[209][210].

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 ☒ 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 name of Registrant as specified in its charter) State of Delaware 37-1699499 (Sta ...

The first two projects of this collaboration will focus on improving the current pit wall system, a key source of information for racing teams, and enriching the fan experience mobile application used at each race The digital consultant and software development provider becomes an Official Partner of Formula 1 in a multi-year deal MIAMI, May 2, 2024 /PRNewswire/ -- Globant and Formula 1 have today announced a multi-year partnership until 2026 to elevate the digital experiences for both F1 teams and fans. A ...

Berkshire Hathaway (NYSE: BRK.A), the investment firm founded and headed by Warren Buffett, recently acquired 4.3 million shares of Liberty Sirius XM (NASDAQ: LSXMA) for approximately $116.58 million, as revealed in filings with the U.S. Securities and Exchange Commission (SEC). Buffett made this move in anticipation of a combination of two stocks.Purchase of LSXMA stock by Berkshire Hathway. Source: SEC Namely, LSXMA is tracking stock, which is a type of equity issued by a parent company to monitor the per ...

Berkshire Hathaway is pouring hundreds of millions into this unique stock every month.Warren Buffett has been hard-pressed to find a great stock to buy in today's market. That's evidenced by the $168 billion in cash and treasuries that sat on Berkshire Hathaway's (BRK.A -1.39%) (BRK.B -1.07%) balance sheet at the end of 2023. But one stock has caught his and fellow investment managers Ted Weschler and Todd Combs' eyes recently.These Berkshire fund managers have invested approximately $2.8 billion into the c ...

Exhibit 99.1 LIBERTY MEDIA CORPORATION REPORTS FOURTH QUARTER AND YEAR END 2023 FINANCIAL RESULTS Englewood, Colorado, February 28, 2024 - Liberty Media Corporation ("Liberty Media" or "Liberty") (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) today reported fourth quarter and year end 2023 results. Headlines include (1): ● Attributed to Liberty SiriusXM Group o SiriusXM reported fourth quarter and full year 2023 operating and financial results ◾ 2023 full year revenue of $8.95 billion ◾ Full year ...

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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | Title of each class | Trading Symbol | Name of each exchange on which registered | | --- | --- | --- | | Series A Liberty SiriusXM Common Stock | LSXM ...