Liberty Media Corp (FWONA) reported third-quarter 2026 revenue of $1.226 billion, versus $1.085 billion a year earlier, and operating income of $237 million versus $158 million. Earnings from continuing operations were $162 million, compared with $63 million; adjusted OIBDA was $353 million versus $297 million. Formula 1 generated $1.115 billion in revenue and $338 million in adjusted OIBDA; MotoGP recorded $111 million and $35 million, respectively.
For the nine months ended September 30, 2026, revenue was $2.871 billion versus $2.873 billion and earnings from continuing operations were $223 million versus $466 million. Operating cash flow was $1.055 billion, compared with $814 million. At September 30, cash and equivalents were $1.758 billion and total debt was $5.528 billion.
On November 4, 2026, John C. Malone and related entities transferred 2,316,537 Series B shares to Liberty Media and received 602,302 Series A and 5,420,699 Series C shares; the returned Series B shares were cancelled and retired. Liberty Media also issued 12,298 Series A and 63,378 Series C Adjustment Shares to Malone's revocable trust, relating to 47,297 Series C shares that remain outstanding. Malone ceased to hold the Chairman Emeritus title and became Senior Advisor.
Liberty Media Corp completed an exchange on November 4, 2026, in which John C. Malone and certain related entities, defined as the Malone Holders, transferred 2,316,537 shares of Series B common stock to the company. In return, the company issued the Malone Holders 602,302 shares of Series A common stock and 5,420,699 shares of Series C common stock; the transferred Series B shares were cancelled and retired.
Immediately afterward, the company issued the John C. Malone 1995 Revocable Trust 12,298 additional Series A shares and 63,378 additional Series C shares with respect to 47,297 Series C shares the trust retained, which were exchangeable into Series B under certain circumstances. After the transactions, John C. Malone beneficially owned 0 Series B shares, or 0% of that class, and the existing exchange agreement was terminated.
Liberty Media Corp (FWONA) completed an exchange with John C. Malone and certain related entities on November 4, 2026. The Malone Holders transferred 2,316,537 Series B common shares to the issuer, which cancelled and retired them; the issuer issued 602,302 Series A and 5,420,699 Series C common shares in exchange.
Immediately afterward, the issuer issued the JM Revocable Trust an additional 12,298 Series A and 63,378 Series C shares. After the transactions, John C. Malone beneficially owned 855,770 Series A shares, approximately 3.5% of the outstanding class, compared with 9.7% before the transactions. The parties also terminated their prior exchange agreement by mutual written consent, effective at closing.
Liberty Media Corp. completed an exchange in which entities related to John C. Malone, a significant stockholder, transferred 2,316,537 Series B shares to the company for 602,302 Series A and 5,420,699 Series C shares; the transferred Series B shares were cancelled. The company separately issued the JM Trust 12,298 Series A and 63,378 Series C adjustment shares. The Malone Holders’ voting power declined from approximately 48% to approximately 3%, based on outstanding common stock as of October 30, 2026.
The board adopted rights expiring November 3, 2027. Each right permits the purchase of one ten-thousandth of a Series A Junior Participating Preferred Stock share for $426.00. Rights are not exercisable until the Distribution Date; generally, the Acquiring Person threshold is 10% of voting power, or 15% for passive institutional investors. An agreement with Robert R. Bennett, Chairman of the Board, provides for options covering 600,000 Series A and 60,000 Series C shares, vesting 20% on the Grant Date and 20% on each of the first four anniversaries. John C. Malone ceased to be Chairman Emeritus and will serve as Senior Advisor.
Liberty Media Corp (FWONA) common shares were reported as beneficially owned by Vanguard Capital Management at 1,182,838 shares, or 4.93%, as of September 30, 2026. Vanguard reported sole voting power over 199,766 shares and sole dispositive power over 1,182,838 shares, with no shared voting or dispositive power. The reported ownership reflects Vanguard Capital Management LLC and specified affiliates or business divisions, including holdings for Vanguard funds and clients.
Liberty Media Corporation (FWONA) announced a conference call to discuss its third-quarter 2026 results on November 5, 2026, at 10:00 a.m. ET. The company will issue a results press release before market trading that day. Management will give prepared remarks and then take questions during a brief Q&A; a webcast will also be available through the company’s investor relations website.
Liberty Media Corp’s Chief Legal Officer, Philip J. Boeckman, reported no beneficial ownership of the company’s securities.
Liberty Media Corp (FWONA) received an amended Schedule 13G from Vanguard Capital Management reporting passive ownership of its common stock. Vanguard Capital Management and specified affiliates report 1,228,308 shares beneficially owned, representing 5.11% of the class.
The group has sole voting power over 178,611 shares and sole dispositive power over 1,228,308 shares, with no shared voting or dispositive power. The submission states it is filed solely to correct the issuer CIK in a prior filing and reports no change in beneficial ownership.
Liberty Media Corp (FWONA) is reported as having 11,982,362 shares of its common stock beneficially owned by Vanguard Capital Management and certain affiliates, representing 5.35% of the class. Vanguard reports sole voting power over 1,948,200 shares and sole dispositive power over all 11,982,362 shares.
The filing states that Vanguard-managed investment companies and other accounts have the right to receive dividends or sale proceeds from these securities, with no other individual interest exceeding 5% of the class. The submission is made solely to correct the issuer CIK from an earlier report and discloses that there is no change in beneficial ownership.
Liberty Media Corp (FWONA) is the subject of this amended Schedule 13G/A, in which The Vanguard Group reports that it now has 0 shares of Liberty Media common stock under its beneficial ownership and 0% of the class, with no voting or dispositive power.
The Vanguard Group explains that, following an internal realignment on January 12, 2026, certain subsidiaries and business divisions now report their holdings separately in reliance on SEC Release No. 34-39538, and Vanguard is no longer deemed to beneficially own those securities. This amendment is filed solely to correct the issuer CIK in a prior amendment and does not reflect any change in beneficial ownership.