Liberty Media Corporation Series C Liberty SiriusXM Common Stock

LSXMK

Market cap $7.28B

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Media Corporation Completes Acquisition of MotoGP™.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--European Commission approves Liberty Media's acquisition of MotoGP™.

Formula One owner Liberty Media received unconditional clearance from EU regulators for its acquisition of Dorna Sports, which owns MotoGP, the European Commission said on Monday.

Liberty Media's acquisition of MotoGP's Dorna is likely to close soon, with regulatory approval expected and minimal concessions required. The deal brings strategic benefits: more scale, a clearer corporate purpose, and the chance to apply Liberty's proven F1 growth playbook to MotoGP. While the acquisition adds significant debt, strong cash flows from both F1 and MotoGP provide ample margin of safety and rapid deleveraging potential.

Liberty Media , which owns Formula One, is set to secure unconditional EU antitrust approval for its 3.5-billion-euro ($3.8 billion) acquisition of MotoGP owner Dorna Sports, people with direct knowledge of the matter said.

Formula One's U.S.-based owner Liberty Media's planned takeover of MotoGP's parent company Dorna will be decided by EU antitrust regulators by Dec. 19, a European Commission filing showed.

Liberty Media (NASDAQ:LINTA) is to sell a US$825 million chunk of shares in Formula 1 to help pay for its acquisition of the motorbike racing equivalent MotoGP. In April, Liberty agreed to buy 86% Dorna Sports, the business holding MotoGP's commercial rights, in a deal valuing the bike championship at US$4.2 billion.

The Liberty SiriusXM Group (NASDAQ:LSXMK ) Q2 2024 Earnings Call August 8, 2024 10:00 AM ET Company Participants Clare Adams - Senior Manager, Investor Relations Gregory Maffei - President and Chief Executive Officer Stefano Domenicali - President and Chief Executive Officer, Formula One Brian Wendling - Chief Accounting and Principal Financial Officer Renee Wilm - Chief Legal Officer and Chief Administrative Officer Derek Schiller - President and Chief Executive Officer, Atlanta Braves Conference Call Participants Bryan Kraft - Deutsche Bank Peter Supino - Wolfe Research Ben Swinburne - Morgan Stanley David Joyce - Seaport Research Partners Vijay Jayant - Evercore ISI David Karnovsky - JPMorgan Barton Crockett - Rosenblatt Securities Stephen Laszczyk - Goldman Sachs Operator Welcome to Liberty Media Corporation 2024 Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference will be recorded today, August 8.

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