Liberty Media Corporation Reports Second Quarter 2023 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 second quarter 2023 results. Headlines include(1):\n\n\n\nOn August 3rd completed reclassification of tracking stocks to create Liberty Live Group tracking stock\n\n\n\nAttributed to Liberty SiriusXM Group\n\n\nSiriusXM reported second quarter 2023 operating and financial results\n\n\nSecond quarter 2023 revenue of $2.25 billion\n\n\n\nNet income of $310 million, up 6% year-over-year; diluted EPS of $0.08\n\n\n\nAdjusted EBITDA(2) of $702 million; up 3% year-over-year\n\n\n\nFree cash flow(2) of $323 million\n\n\n\nSiriusXM increased full-year free cash flow guidance on August 1st\n\n\n\nAnnounced fall preview of next gen SiriusXM experience\n\n\n\n\n\n\nLiberty Media’s ownership of SiriusXM was 83.4% as of July 28th\n\n\n\nReceived $71 million proceeds to settle intergroup interest in Formula One Group\n\n\n\nReceived 1.8 million shares of Atlanta Braves Holdings common stock to settle intergroup interest in Braves Group; shares will be exchanged with one or more third party lenders and proceeds will be used to reduce debt at Liberty SiriusXM Group\n\n\n\n\n\n\nAttributed to Formula One Group\n\n\nAnnounced 24-race calendar for 2024 with increased geographic efficiency in support of F1’s sustainability objectives\n\n\n\nExtended agreements for Austrian Grand Prix until 2030 and Hungarian Grand Prix until 2032\n\n\n\nAnnounced extension of Heineken as Global Partner under multi-year deal\n\n\n\nFormula One Group shareholders received distribution of 6.8 million shares of Atlanta Braves Holdings common stock on July 19th to settle intergroup interest in Braves Group\n\n\n\nPaid $71 million in exchange for the cancellation of 1.1 million notional FWONA shares underlying intergroup interest held at Liberty SiriusXM Group\n\n\n\n\n\n\nAttributed to former Braves Group\n\n\nCompleted split-off of Braves and associated mixed-use development into separate public company Atlanta Braves Holdings on July 18th\n\n\n\n\n\n\n“We were pleased to complete the reclassification of the Liberty Media tracking stocks which begin trading today, including our newly created Liberty Live Group. This action further simplifies our tracking stock structure and provides greater investor ch...

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