Business
Liberty Media Corporation Reports Third 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 third quarter 2022 results. Headlines include(1):\n\n\nAttributed to Liberty SiriusXM Group\n\n\nSiriusXM reported third quarter 2022 financial results\n\n\nRevenue of $2.28 billion; increase of 4% year-over-year\n\n\nNet income of $247 million; diluted EPS of $0.06\n\n\nAdjusted EBITDA(2) of $720 million\n\n\nSiriusXM announced 10% increase to quarterly dividend; year-to-date capital returns to SiriusXM stockholders of $1.8 billion\n\n\nSiriusXM reiterated full-year financial and subscriber guidance on November 1st\n\n\n\n\nLiberty Media’s ownership of SiriusXM was 82.4% as of October 28th\n\n\nRepurchased $210 million aggregate principal amount of 1.375% cash convertible notes due 2023 for $284 million gross consideration\n\n\nEffective cost to Liberty SiriusXM Group of $179 million, net of proceeds received from Formula One Group ($64 million) and Braves Group ($14 million) to settle corresponding portion of intergroup interests and proceeds from settlement of bond hedge and warrant ($27 million)\n\n\n\n\nFrom August 1st through October 31st, Liberty repurchased 276 thousand LSXMK shares at an average price per share of $40.54 for total cash consideration of $11 million\n\n\n\n\nAttributed to Formula One Group\n\n\nAnnounced multiple broadcast extensions, including Sky Sports covering UK and Ireland, Germany and Italy in multi-year agreements, ESPN for US market through 2025, and ServusTV in Austria through 2025\n\n\nAnnounced 2023 race calendar with renewals of Monaco and Mexico City races until 2025\n\n\nExpanded partnership with AWS as a Global Partner\n\n\nAudi announced F1 entry as new engine supplier in tandem with introduction of next-generation engine regulations in 2026\n\n\nIssued $475 million aggregate principal amount of 2.25% FWONK convertible notes due 2027\n\n\nRepurchased $213 million face value of 1% FWONK cash convertible notes due 2023\n\n\n\n\nLiberty Media Acquisition Corporation to hold special meeting of stockholders on November 14, 2022 to approve early unwind and redemption of outstanding public shares\n\n\n\n\nAttributed to Braves Group\n\n\nSecured NL East Championship for fifth consecutive season\n\n\n42 game sellouts and 3.2 milli...