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Liberty Media +1.8% as it readies acquisition of Formula One

Published 11/08/2016, 11:06 AM
Liberty Media +1.8% as it readies acquisition of Formula One
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  • Liberty Media (NASDAQ:LMCA) is up 1.8% following Q3 results that featured quarterly record revenue and profits that rose 16% at its Liberty SiriusXM Group (LXSMA).
  • Again, results were dominated by those of Sirius XM though the company is diversifying into Formula One; Liberty's stake in SIRI is up to 65.5% as of Oct. 25.
  • Adjusted EBITDA at Liberty SiriusXM grew 10% to $492M, and revenue grew 10% to $1.3B. Meanwhile, at Liberty Braves Group (NASDAQ:BATRA), revenue dropped $10M to $109M and operating income fell $15M, to $1M, as ticket sales and broadcast revenue declined.
  • Press Release

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