Liberty Media Corporation is planning a private offering of $600 million aggregate principal amount of convertible senior notes due 2032, with an option for initial purchasers to buy up to an additional $90 million of notes within 13 days of issuance. These senior, unsecured notes will be convertible into cash, shares of Liberty Media’s Series C common stock (FWONK), or a combination, at the company’s election, with the interest rate and conversion terms set at pricing. Liberty Media expects to use the net proceeds to enter into capped call transactions related to its 2.25% Convertible Senior Notes due 2027 and for working capital and general corporate purposes, including repayment of the 2027 notes. The notes will be offered only to Qualified Institutional Buyers under Rule 144A and will not be registered under the Securities Act.
Liberty Media Corporation reported second quarter 2026 results with total revenue of $934 million, down from $1,341 million a year earlier, and operating income of $88 million versus $280 million. Adjusted OIBDA was $206 million compared with $369 million. Net earnings attributable to Liberty stockholders were $5 million, down from $204 million, while for the first half of 2026 net earnings attributable to stockholders were $62 million versus $209 million.
Formula 1 generated $764 million of Q2 revenue and operating income of $73 million, both lower year over year primarily because only five races were held versus nine and due to one-time 2025 movie-related revenue. MotoGP contributed $170 million of revenue and $37 million of operating income in the quarter, with first-half revenue of $264 million and operating income of $13 million. Cash and cash equivalents were $1,465 million at June 30, 2026, up $133 million during the quarter, and total debt decreased by $134 million to $4,855 million, as Liberty generated $673 million of operating cash flow in the first six months of 2026.
Liberty Media Corporation reported weaker results for the quarter ended June 30, 2026, with consolidated revenue of $934 million versus $1,341 million a year earlier and net earnings from continuing operations of $8 million versus $386 million. Net earnings attributable to Liberty stockholders were $5 million.
Following the December 2025 Liberty Live Split-Off and May 2026 reincorporation in Nevada, results now focus on motorsport businesses. For the first six months of 2026, revenue was $1,645 million compared with $1,788 million in 2025, and operating income was $152 million versus $213 million, with MotoGP contributing $264 million of revenue year to date.
Liberty generated $673 million of operating cash flow in the first half and ended June with $1,465 million of cash and cash equivalents against total debt principal of $4,855 million. The MotoGP purchase price totaled $3,659 million, and total assets reached $15,879 million.
Liberty Media Corporation plans investor communications around its second quarter 2026 results. The company will issue a press release reporting these results before the market opens on Thursday, August 6, 2026, and will host a conference call that day at 10:00 a.m. E.T.
The call will include prepared remarks and a brief Q&A session and may address financial performance, outlook and other forward-looking matters. The announcement, including the related press release, is furnished under Regulation FD and is not deemed filed for any purpose.
Liberty Media Corporation reported that its subsidiary MotoGP Sports Entertainment Group has closed a repricing of its senior secured debt facilities. MotoGP replaced its previous €800 million Term Loan B with a new €720 million Term Loan B due August 18, 2032, and its prior $231 million Term Loan A with a new $209 million Term Loan A due August 18, 2030. MotoGP also refinanced its existing €100 million multicurrency revolving credit facility with a new €100 million facility maturing on August 18, 2030. The net reduction of approximately $114 million equivalent was funded with cash on MotoGP’s balance sheet. On a pro forma basis as of March 31, 2026, MotoGP reports about $72 million of cash and liquid investments, principal debt of $1,037 million, and a net senior secured leverage ratio of 4.6x. The current margin on the Term Loan B has been cut from 2.50% to 2.25%, with a new range of 2.00% to 2.25% over EURIBOR, while the Term Loan A and revolving credit facility retain current margins of 1.50% and 2.00% respectively, each now with tighter step-down ranges based on MotoGP’s leverage. All three facilities remain non-recourse to Liberty Media.
Liberty Media Corp Chief Legal/Admin Officer Renee L. Wilm reported an open-market sale of 11,597 shares of Series C Common Stock at $90.09 per share. After this transaction, she directly holds 15,590 shares. A recent corporate conversion from Delaware to Nevada left shareholder ownership proportions unchanged.
Liberty Media Corp director Chase Carey executed an exercise-and-sell transaction in Series C Common Stock (FWONK) on May 27, 2026. He exercised stock options for 100,000 shares at an exercise price of $28.00 per share and, on the same day, sold 100,000 shares in open-market trades.
The sales were reported in two blocks: 98,546 shares at a weighted average price of $90.2691 per share and 1,454 shares at a weighted average price of $91.1225 per share, across multiple transactions within stated price ranges. Following these transactions, he continues to hold a direct equity position in Liberty Media’s Series C Common Stock.
Liberty Media Corporation disclosed a proposed sale of 100,000 shares of Series C Liberty Formula One via a stock option exercise to be executed on 05/27/2026. The notice lists UBS Financial Services Inc. as the broker and identifies NASDAQ as the market.
Liberty Media Corporation has completed a legal move of its corporate home from Delaware to Nevada. Stockholders approved the reincorporation at the May 11, 2026 annual meeting, and the change became effective on May 12, 2026 at 4:02 p.m. Eastern Time.
Each outstanding share of Liberty Formula One common stock series (FWONA, FWONB, FWONK) automatically converted into an equivalent share of Nevada-incorporated stock (FWONA-NV, FWONB-NV, FWONK-NV) on a one-for-one basis, with the same par value. Related stock options and restricted stock units were also converted into corresponding Nevada-based awards with substantially identical terms.
The new Nevada charter removed the prior tracking stock structure, so the Formula One shares no longer function as tracking stocks. Trading markets and symbols remain the same: FWONA and FWONK continue on Nasdaq, and FWONB continues to be quoted over the counter. The company states that its headquarters, business operations, management, assets, liabilities and net worth are unchanged apart from costs associated with the move, though certain stockholder rights now differ under Nevada law and the new charter as described in the proxy statement.
Liberty Media Corp ownership filing: Principal Global Investors reports beneficial ownership of 1,364,040 shares of Series A Liberty Formula One Common Stock, representing 5.7% of the class as of 03/31/2026.
The Schedule 13G lists shared voting and dispositive power for the entire position and is signed by J. Markham Penrod as Chief Compliance Officer.