Liberty Media Corporation Reports Fourth Quarter and Year End 2024 Financial Results

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[{"type":"text","content":" ENGLEWOOD, Colo.--(BUSINESS WIRE)--\nLiberty Media Corporation (\"Liberty Media\" or “Liberty”) (NASDAQ: FWONA, FWONK, LLYVA, LLYVK) today reported fourth quarter and year end 2024 results. Headlines include (1):\n\n\n\nAttributed to Formula One Group\n\n\n2024 F1 fan attendance of 6.5 million, up 9% compared to 2023\n\n\n\n1.6 billion cumulative TV viewers and 97 million social media followers\n\n\n\nRenewed several race promotion agreements, including Belgian Grand Prix in multi-year rotation, Dutch Grand Prix through 2026, Chinese Grand Prix through 2030 and Italian and Monaco Grands Prix through 2031\n\n\n\nAnnounced extension of partnership with Crypto.com through 2030 and signed new agreement with global lottery operator Allwyn as Official Partner\n\n\n\nHosted season launch event at London’s The O2 to celebrate F1’s 75th anniversary year with over 40 global broadcasters airing the show\n\n\n\nLiberty Media extended date for regulatory approval of MotoGP acquisition to June 30, 2025\n\n\n\n\n\n\nAttributed to Liberty Live Group\n\n\nFair value of Live Nation investment was $9.0 billion as of December 31, 2024\n\n\n\n\n\n\n“As I reflect on my first month as CEO, I am energized by the opportunities ahead at Liberty Media and our portfolio companies,” said Derek Chang, Liberty Media President & CEO. “My time as a board member has enabled an efficient transition as we move quickly to accomplish our strategic priorities for 2025. This includes capitalizing on Formula 1’s success with the key building blocks to drive continued growth, closing the acquisition of MotoGP and addressing the Liberty Live structure. I am committed to maintaining our current momentum and working with the Liberty team as we execute our strategy to drive shareholder value.”\n\n\nDiscussion of Results\n\n\nUnless otherwise noted, the following discussion compares financial information for the three months or year ended December 31, 2024 to the same period in 2023.\n\n\nFORMULA ONE GROUP – The following table provides the financial results attributed to Formula One Group for the fourth quarter and full year 2024. $17 million and $66 million of corporate level selling, general and administrative expense (including stock-based compensation expense) was allocated to Formula One Group in the fourth quarter and full year 2024, respectively.\n\n\nThe businesses...

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