Liberty Media Corporation Reports Third Quarter 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 third quarter 2020 results. Headlines include(1):\n\n\nAttributed to Liberty SiriusXM Group\n\n\nSiriusXM reported third quarter 2020 financial results\n\n\nSiriusXM self-pay net subscriber additions of 169,000 in third quarter\n\n\nThird quarter revenue of $2,025 million, up 1% year-over-year\n\n\nThird quarter net income of $272 million, up 11%; diluted EPS of $0.06\n\n\nAdjusted EBITDA(2) of $661 million in the third quarter, up 1% year-over-year\n\n\nSiriusXM increased 2020 subscriber and financial guidance on October 22nd\n\n\nThird quarter SiriusXM capital returns total $544 million; Stitcher acquisition complete; leadership transition on track\n\n\n\n\nJennifer Witz slated to become CEO of SiriusXM on January 1, 2021\n\n\nLiberty Media’s ownership of SiriusXM stood at 74.4% as of October 20th\n\n\nFrom August 1st through October 31st, Liberty repurchased 3.1 million LSXMA/K shares at an average price per share of $34.93 and total cash consideration of $110 million\n\n\nCorporate level liquidity as of September 30th: $974 million cash, cash equivalents and undrawn margin loan capacity (excluding liquidity at SiriusXM)\n\n\n\n\nAttributed to Formula One Group\n\n\nF1 and FIA announced new five year Concorde Agreement executed with all ten teams\n\n\nCompleted 13 races of planned 17 race season\n\n\nLewis Hamilton sets new record of 93 Grand Prix wins, surpassing Michael Schumacher\n\n\nStefano Domenicali appointed President and CEO of F1 effective January 2021\n\n\nChase Carey will move to role of non-executive Chairman\n\n\n\n\nLiquidity as of September 30th: $2.1 billion cash, cash equivalents and revolver capacity (including $639 million of liquidity at F1)\n\n\n\n\nAttributed to Braves Group\n\n\nBraves clinched third straight NL East title and won NL Wild Card Series and NL Division Series\n\n\nBraves amended debt agreements related to the team revolver and ballpark funding\n\n\nLiquidity as of September 30th: $260 million cash, restricted cash, cash equivalents and revolver capacity (including $183 million liquidity at Braves)\n\n\n\n\n“Our employees and management teams executed exceptionally well given the ongoing challenges presented by COVID-19. S...

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