Business
Liberty Media Corporation Reports Third Quarter 2021 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 third quarter 2021 results. Headlines include(1):\n\n\nAttributed to Liberty SiriusXM Group\n\n\nSiriusXM reported strong third quarter 2021 financial results\n\n\nThird quarter revenue of $2.20 billion; increase of 9% from prior year period\n\n\nThird quarter net income of $343 million; diluted EPS of $0.08\n\n\nRecord quarterly adjusted EBITDA(2) of $719 million, up 9% from prior year period\n\n\nSiriusXM self-pay net subscriber additions of 616,000 in third quarter and 1.1 million year-to-date\n\n\nSiriusXM increased 2021 subscriber and financial guidance on October 28th\n\n\nSiriusXM recently increased quarterly cash dividend by 50%\n\n\n\n\nEffected tax-free exchange of 5.3 million LSXMA shares for 43.7 million SIRI shares on November 3rd, taking Liberty Media’s ownership in SiriusXM to approximately 80.2%\n\n\nAll future distributions to Liberty SiriusXM Group from SiriusXM will be tax-free\n\n\n\n\nAnnounced 2.25% Live Nation exchangeable debentures will be redeemed in full on December 1st put / call date; any exchanges expected to be settled in January 2022\n\n\nFrom August 1st through October 31st, Liberty repurchased 2.0 million LSXMA/K shares at an average price per share of $48.19 for total cash consideration of $98 million\n\n\n\n\nAttributed to Formula One Group\n\n\nF1 announced record 23-race calendar for 2022 season running March 20th to November 20th\n\n\nQatar will join 2021 calendar for November 19th weekend and signed additional 10-year deal to host race beginning 2023\n\n\nUS Grand Prix was largest race in F1 history, with total attendance of 400,000 over three-day weekend\n\n\nSecured multiple broadcast deals with partners in Asia until end of 2022 following closure of Fox Sports channels in region, and extended agreement with Canal+ in France until 2024\n\n\nFormula 1 leverage of 5.6x near target range of 5.0x – 5.5x\n\n\nFrom August 1st through October 31st, Liberty repurchased 1.0 million FWONA shares at an average price per share of $45.02 for total cash consideration of $47 million\n\n\n\n\nAttributed to Braves Group\n\n\nBraves claimed first World Series title since 1995 and 4th title in franchise history\n\n\nBraves are second in ML...