Liberty Media Corp Del SEC Filings

Liberty Media Corp director Chase Carey reported insider transactions in Series C Liberty Formula One (FWONK) on 11/10/2025. He exercised 109,121 stock options at $33.22 and sold shares in two trades: 9,941 shares at a weighted average of $103.1174 and 99,180 shares at a weighted average of $102.482.

Following these transactions, he directly owned 93,102 shares. The filing lists 248,042 derivative securities (stock options) beneficially owned after the transactions; the noted option award is fully exercisable and shows an expiration date of 03/06/2026.

Liberty Media Corporation (FWONK) director Larry E. Romrell reported transactions on 11/10/2025. He exercised 3,885 Series C Liberty Formula One shares via stock options at $29.92 (code M) and disposed of 1,133 shares at $102.65 (code F). After these moves, he directly owns 19,381 FWONK shares. The exercised option became exercisable on 12/06/2019 and expires on 12/06/2025.

Liberty Media’s Chief Legal/Admin Officer reported insider transactions. On 11/07/2025, the officer exercised 14,116 options for Series C Liberty Formula One Common Stock (FWONK) at $42.10, sold 4,676 FWONK shares at a weighted average price of $102.4219, and had 9,440 FWONK shares withheld for taxes at $102.43. Following these, FWONK shares beneficially owned were 11,597, direct.

For Series C Liberty Live Common Stock (LLYVK), on 11/07/2025 the officer exercised 22,855 options at $50.55 and 3,211 options at $20.01, had 1,834 shares withheld for taxes at $84.34, sold 6,524 shares at a weighted average price of $84.3408, and had 7,749 shares withheld for taxes at $84.28. On 11/10/2025, an additional 9,959 shares were withheld for taxes at $84.33. LLYVK shares beneficially owned after the reported transactions were 10,925, direct.

Weighted average sale prices reflect multiple trades; the officer undertakes to provide detailed trade breakdowns upon request.

Liberty Media Corporation furnished an earnings press release for the quarter ended September 30, 2025. The release, attached as Exhibit 99.1, provides historical results intended to supplement the company’s Quarterly Report on Form 10‑Q for the same period.

The current report lists the company’s traded stocks, including Series A and C Liberty Formula One (FWONA, FWONK) and Series A and C Liberty Live (LLYVA, LLYVK). The disclosure was made under Item 2.02 (Results of Operations and Financial Condition).

Liberty Media (FWONA) reported higher Q3 results and completed a major acquisition. For the quarter ended September 30, 2025, revenue rose to $1,085 million from $911 million, driven by motorsport revenue of $1,024 million versus $848 million. Operating income increased to $149 million from $107 million, but realized and unrealized losses on financial instruments reduced earnings before tax to $23 million from $135 million. Net earnings from continuing operations were $13 million.

The company closed the acquisition of approximately 84% of MotoGP for $3,659 million, adding $3,059 million of goodwill and $2,789 million of amortizable intangibles, and recorded $692 million of redeemable noncontrolling interests. Year to date, cash from operating activities was $785 million, investing used $3,138 million (including $3,267 million for acquisitions), and financing provided $990 million (reflecting $1,748 million of borrowings and $746 million of repayments).

At September 30, 2025, total assets were $17,821 million, total liabilities $9,731 million, current debt $1,915 million, and long‑term debt $5,122 million. Diluted EPS from continuing operations was $0.24 for Liberty Formula One common stock in the quarter.

Liberty Media is asking holders of LLYVA and LLYVB to approve a split-off that will separate the Liberty Live Group into a new, independent public company, Liberty Live Holdings. Each share of LLYVA, LLYVB and LLYVK will be redeemed for one share of the corresponding series of New Liberty Live Group common stock.

After the split-off, Liberty Live will hold all businesses, assets and liabilities attributed to the Liberty Live Group, including all of Liberty Media’s stake in Live Nation (approximately 30% of outstanding Live Nation Common Stock as of July 31, 2025), corporate cash, certain private assets such as QuintEvents, Liberty Media’s 2.375% Exchangeable Senior Debentures due 2053, an undrawn margin loan secured by Live Nation shares, and variable forward contracts.

New LLYVA and New LLYVK are expected to list on Nasdaq under “LLYVA” and “LLYVK,” with New LLYVB quoted on OTC as “LLYVB.” A special meeting will be held virtually on December 5, 2025, where LLYVA and LLYVB holders, voting together as a separate class, will consider the split-off and a possible adjournment. Completion requires stockholder approval, a favorable tax opinion, SEC effectiveness, Nasdaq approvals and certain regulatory clearances. The board cites reduced tracking-stock discount, potential index eligibility, and clearer acquisition currency as key reasons.

Liberty Media Corporation announced that John C. Malone will step down as Chairman and as a director effective December 31, 2025, and will become Chairman Emeritus on January 1, 2026. Vice Chairman Robert R. Bennett will assume the role of Chairman effective January 1, 2026.

Following Mr. Malone’s resignation, the Executive Committee will comprise Robert R. Bennett, Derek Chang and Chase Carey. The Board approved a reduction in the size of the Nominating and Corporate Governance Committee to two members—M. Ian G. Gilchrist and Andrea L. Wong—with Ms. Wong as chair, effective January 1, 2026. The Board will be reduced from nine to eight directors on that date; Class III will have two directors, and Classes I and II will have three each. The company stated Mr. Malone’s decision was not due to any disagreement.

Liberty Media Corporation announced a virtual special meeting for holders of its Series A and Series B Liberty Live common stock on December 5, 2025 at 8:30 a.m. M.T. Stockholders will be asked to consider and vote on a proposal related to Liberty Media’s proposed transaction to separate the Liberty Live Group by means of a redemptive split-off into a separate public company.

The announcement was made via press release, which was furnished as Exhibit 99.1.

Liberty Media Corporation announced two investor events. The annual Investor Meeting will be held on November 20, 2025, with webcast presentations starting at approximately 9:30 a.m. PT. Presentations will feature Liberty Media, Formula 1, MotoGP and Quint, and the Q&A may include comments on Liberty Broadband and GCI Liberty. The company also scheduled a conference call to discuss Q3 2025 results on November 5, 2025, at 10:00 a.m. ET.

The information was furnished under Item 7.01 (Regulation FD), which means it is provided for public disclosure and is not deemed “filed” for liability purposes.