Liberty Media Corporation Reports First Quarter 2024 Financial Results

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[{"type":"text","content":" ENGLEWOOD, Colo.--(BUSINESS WIRE)--\nLiberty Media Corporation (“Liberty Media” or “Liberty”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) today reported first quarter 2024 results. Headlines include(1):\n\n\n\nAttributed to Liberty SiriusXM Group\n\n\nSiriusXM reported first quarter 2024 operating and financial results\n\n\nFirst quarter 2024 revenue of $2.16 billion; up 1% year-over-year\n\n\n\nAd revenue up 7% year-over-year\n\n\n\nNet income of $265 million; diluted EPS of $0.07\n\n\n\nAdjusted EBITDA(2) of $650 million; up 4% year-over-year\n\n\n\nFree cash flow(2) of $132 million; down 8% year-over-year\n\n\n\nSiriusXM reiterated 2024 financial guidance\n\n\n\n\n\n\nLiberty Media’s ownership of SiriusXM was 83.3% as of April 26th\n\n\n\nOn schedule to complete planned combination of Liberty SiriusXM Group and SiriusXM early third quarter 2024\n\n\n\nRepaid $65 million under the SiriusXM margin loan in first quarter\n\n\n\n\n\n\nAttributed to Formula One Group\n\n\nAnnounced planned acquisition of MotoGP and expect to complete transaction by year-end 2024\n\n\n\nF1 announced 24-race calendar for 2025 which will mark its 75th anniversary\n\n\n\nExpanded partnership with DHL as Global Partner and secured new sponsorship deals at F1, including Globant as Official Partner and McDonald’s as Regional Partner in Latin America\n\n\n\nF1 secured new broadcast deal with beIN SPORTS across MENA through 2033, extended partnership with Viaplay in Netherlands and Nordic countries through 2029 and signed FanCode in India through 2025\n\n\n\nQuint announced as official experiences and travel provider to USGA and launched new partnerships, including with WNBA, X Games and USA Basketball\n\n\n\n\n\n\nAttributed to Liberty Live Group\n\n\nFair value of Live Nation investment was $7.4 billion as of March 31st\n\n\n\n\n\n\n“We were thrilled to announce Liberty’s planned acquisition of MotoGP, adding to our attractive assets in the premium live event and sports industries. We look forward to bringing this exhilarating sport to a wider global audience,” said Greg Maffei, Liberty Media President and CEO. “Formula 1 kicked off the 2024 season with over 1 million fans in attendance across the first five races. At SiriusXM, they delivered solid revenue and adjusted EBITDA growth and are focused on improving subscriber results with enhan...

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