Business
Liberty Media Corporation Reports Second Quarter 2022 Financial Results
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Media Corporation ("Liberty Media" or “Liberty”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) today
About this update from Atlanta Braves Holdings, Inc. - Series A
[{"type":"text","content":" ENGLEWOOD, Colo.--(BUSINESS WIRE)--\nLiberty Media Corporation (\"Liberty Media\" or “Liberty”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) today reported second quarter 2022 results. Headlines include(1):\n\n\nAttributed to Liberty SiriusXM Group\n\n\nSiriusXM reported second quarter 2022 financial results\n\n\nRevenue of $2.25 billion; increase of 4% year-over-year\n\n\nNet income of $292 million; diluted EPS of $0.07\n\n\nAdjusted EBITDA(2) of $679 million\n\n\nYear-to-date capital returns to SiriusXM stockholders of $1.6 billion\n\n\nSiriusXM reiterated full-year financial guidance on July 28th; expect positive full-year self-pay net subscriber additions\n\n\n\n\nLiberty Media’s ownership of SiriusXM was 82.3% as of July 26th\n\n\nFrom May 1st through July 31st, Liberty repurchased 2.4 million LSXMA/K shares at an average price per share of $38.84 for total cash consideration of $93 million\n\n\n\n\nAttributed to Formula One Group\n\n\nAnnounced extension of Australian Grand Prix through 2035\n\n\nSecured renewal with Bandeirantes for exclusive broadcast rights in Brazil through 2025\n\n\nRenewed deal with Netflix for fifth and sixth seasons of Drive to Survive\n\n\nF1 reiterated commitment to be net-zero carbon by 2030 and to introduce 100% sustainable drop-in fuel with new engine formula in 2026\n\n\nRepurchased $146 million face value of 1% FWONK cash convertible notes due 2023, effectively retiring 3.95 million underlying FWONK shares\n\n\n\n\nAttributed to Braves Group\n\n\nAt the end of the second quarter, Braves attendance was up 23% compared to 2019 season\n\n\n24 game sellouts as of All-Star break\n\n\n\n\n“SiriusXM generated impressive financial results despite the challenges in the auto market. Live Nation continues to capitalize very well on the exceptional consumer demand for live experiences. Formula 1 is making the most of our growing worldwide popularity as evidenced by race attendance, TV viewership and engagement across platforms,” said Greg Maffei, Liberty Media President and CEO. “The Braves have played excellent baseball the past two months and have successfully driven attendance growth compared to 2019 off of an already high base.”\n\nDiscussion of Results\n\nUnless otherwise noted, the following discussion compares financial information for the three months ended June 30, 2022 to the sam...