Liberty Media Corporation Reports Fourth Quarter and Year End 2020 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, BATRA, BATRK) today reported fourth quarter and year end 2020 results. Headlines include (1):\n\n\nAttributed to Liberty SiriusXM Group\n\n\nSiriusXM reported strong full year 2020 results\n\n\nSiriusXM self-pay net subscriber additions of 909,000 for the year\n\n\nRevenue of $8.04 billion in 2020\n\n\nFull year net income of $131 million; diluted EPS of $0.03 or $0.25, excluding $976 million non-cash impairment charge\n\n\n2020 adjusted EBITDA(2) hit record $2.58 billion, up 6%\n\n\nSiriusXM capital returns totaled $1.81 billion in 2020\n\n\nSiriusXM confirmed 2021 guidance\n\n\n\n\nLiberty Media’s ownership of SiriusXM stood at 76.4% as of January 29th\n\n\nFrom November 1st through January 31st, Liberty repurchased 2.4 million LSXMA/K shares for total cash consideration of $99 million\n\n\nBalance sheet improvements at Liberty SiriusXM Group\n\n\nIn November 2020, amended Live Nation margin loan and reduced number of underlying shares pledged from 53.7 million to 9.0 million with $200 million currently undrawn\n\n\nIn February 2021, increased capacity under SiriusXM margin loan from $1.35 billion to $1.75 billion with $875 million currently undrawn\n\n\n\n\n\n\nAttributed to Formula One Group\n\n\nF1 successfully completed 17 race calendar in 2020\n\n\nPlanning for record 23 race calendar in 2021, beginning in Bahrain on March 28th\n\n\nAverage TV viewers per race was 87.4 million\n\n\nSocial media followers increased 36% to 35 million; fastest growth in social engagement compared to all other major sports with a 99% increase\n\n\nLiberty Media Acquisition Corporation (“LMAC”) completed its IPO on January 26th for gross proceeds of $575 million\n\n\nSponsor’s 20% interest in LMAC attributed to Formula One Group\n\n\n\n\n\n\nAttributed to Braves Group\n\n\nBraves received numerous performance accolades in 2020, including Freddie Freeman as National League MVP\n\n\nBattery development generated a solid $5 million of operating income and $18 million of net operating income (“NOI”)(2) in 2020\n\n\n97% of Battery tenants currently open\n\n\n\n\n\n\n“We want to thank our employees and management teams who did a tremendous job navigating and operating in an extremely challenging 2020. SiriusXM ...

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