FAQ

Liberty Media Corporation owns interests in a broad range of media, communications and entertainment businesses. Those interests are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Formula One Group.

• The Series A and Series C Liberty Formula One common stock trade on the Nasdaq Global Select Market under the stock symbols FWONA and FWONK, respectively. The Series B Liberty Formula One common stock is quoted on the OTC Markets under the symbol FWONB.
• The Series A and Series C Liberty Braves common stock trade on the Nasdaq Global Select Market under the stock symbols BATRA and BATRK, respectively. The Series B Liberty Braves common stock is quoted on the OTC Markets under the symbol BATRB.
• The Series A, Series B and Series C Liberty SiriusXM common stock trade on the Nasdaq Global Select Market under the stock symbols LSXMA, LSXMB and LSXMK, respectively.

Each holder of the then-Liberty Media Corporation Series A common stock received 0.25 of a share of Liberty Interactive Series A common stock and 0.05 of a share of Liberty Capital Series A common stock for each share of old Liberty Series A common stock held; and each holder of the then-Liberty Media Corporation Series B common stock received 0.25 of a share of Liberty Interactive Series B common stock and 0.05 of a share of Liberty Capital Series B common stock for each share of old Liberty Series B common stock held.

With the reclassification of Liberty Capital in March 2008, each holder of Liberty Capital group Series A common stock received 4 shares of Liberty Entertainment Series A common stock and maintained existing holdings of Liberty Capital group Series A common stock.

Each holder of Liberty Capital group Series B common stock received 4 shares of Liberty Entertainment Series B common stock and maintained existing holdings of Liberty Capital group Series B common stock.

Shares of Liberty Interactive were not affected by the reclassification of the Liberty Capital common stock.

Each holder of Liberty Interactive Corporation's Liberty Capital Series A common stock received 1 share of Liberty Media's Liberty Capital Series A common stock.

Each holder of Liberty Interactive Corporation's Liberty Capital Series B common stock received 1 share of Liberty Media's Liberty Capital Series B common stock.

Each holder of Liberty Interactive Corporation's Liberty Starz Series A common stock received 1 share of Liberty Media's Liberty Starz Series A common stock.

Each holder of Liberty Interactive Corporation's Liberty Starz Series B common stock received 1 share of Liberty Media's Liberty Starz Series B common stock.

On November 28, 2011, Liberty Media eliminated its tracking stock structure by converting each share of its Liberty Starz common stock into 0.88129 of a share of the corresponding series of Liberty Capital common stock. In connection with that transaction, Liberty Capital common stock began trading under the new Nasdaq symbols of LMCA and LMCB beginning on November 29, 2011. The ticker symbols LCAPA and LCAPB are no longer used.

On November 28, 2011, Liberty Media eliminated its tracking stock structure by converting each share of its Liberty Starz common stock into 0.88129 of a share of the corresponding series of Liberty Capital common stock. In connection with that transaction, Liberty Capital common stock began trading under the new Nasdaq symbols of LMCA and LMCB beginning on November 29, 2011. Investors can no longer purchase LSTZA and LSTZB shares.

• The Liberty Formula One common stock, Liberty Braves common stock and the Liberty SiriusXM common stock are intended to track and reflect the economic performance of the businesses, assets and liabilities attributed to the Formula Group, the Braves Group and the Liberty SiriusXM Group, respectively.
• Series A common stock has one vote per share, Series B common stock has ten votes per share and Series C common stock is non-voting stock (subject to certain exceptions in the case of Series C common stock).
• Series B common stock is exchangeable at any time by the holder on a one-for-one basis for Series A common stock. Series A and Series C common stock are not exchangeable at any time by the holder of such stock.

Liberty Media has no direct stock purchase plan. You can purchase Liberty SiriusXM common stock, Liberty Formula One common stock, or Liberty Braves common stock through a broker.

On May 9, 2006, shares of the entity formerly known as Liberty Media Corporation were exchanged for shares of the Liberty Interactive and Liberty Capital tracking stocks and the old Liberty Media Corporation Series A and Series B shares, which traded under the L and LMC.B ticker symbols, ceased trading. Investors can no longer purchase L or LMC.B shares.

On March 3, 2008, holders of Liberty Capital tracking stock were issued shares of Liberty Entertainment tracking stock.

On November 20, 2009, holders of Liberty Entertainment tracking stock were issued shares of DIRECTV and Liberty Starz tracking stock. Liberty Entertainment Series A and Series B shares, which traded under the LMDIA and LMDIB ticker symbols, ceased trading.

On September 23, 2011, Liberty Interactive Corporation redeemed all of the shares of its Liberty Capital common stock in exchange for shares of Liberty Media's Liberty Capital common stock, and redeemed all of the shares of its Liberty Starz common stock for shares of Liberty Media's Liberty Starz common stock.

Following these redemptions, Liberty Media, which previously existed as a subsidiary of Liberty Interactive Corporation, was split-off from Liberty Interactive Corporation. The redemptions and split-off had no effect on the holders of Liberty Interactive common stock. Liberty Interactive Corporation (now known as Qurate Retail, Inc.) and Liberty Media are now two separate publicly traded companies and are not affiliated with each other.

On November 28, 2011, Liberty Media eliminated its tracking stock structure by converting each share of its Liberty Starz common stock into 0.88129 of a share of the corresponding series of Liberty Capital common stock. In connection with that transaction, Liberty Capital common stock began trading under the new Nasdaq symbols of LMCA and LMCB beginning on November 29, 2011.

On January 11, 2013, Liberty Media Corporation (formerly known as Liberty Spinco, Inc.) was spun-off from Starz (formerly known as Liberty Media Corporation). The spin-off was accomplished by the distribution by Starz of a dividend of one share of Liberty Media Corporation’s Series A common stock for each outstanding share of Starz’s Series A Liberty Capital common stock, and one share of Liberty Media Corporation’s Series B common stock for each outstanding share of Starz’s Series B Liberty Capital common stock held as of January 10, 2013. The Liberty Media common stock continued to trade under the Nasdaq symbols of LMCA and LMCB.

In April 2016, Liberty Media reclassified its common stock into three tracking stocks and each holder of Liberty Media Corporation’s former Series A, Series B and Series C common stock received 1 share of the corresponding series of Liberty SiriusXM common stock (tickers LSXMA/LSXMB/LSXMK), 0.1 of a share of the corresponding series of Liberty Braves common stock (tickers BATRA/BATRB/BATRK) and 0.25 of a share of the corresponding series of Liberty Media common stock (tickers LMCA/LMCB/LMCK).

In January 2017, Liberty Media changed the name of its Liberty Media common stock to Liberty Formula One common stock (tickers FWONA/FWONB/FWONK) in connection with Liberty Media’s acquisition of the Formula 1 business.

The 2008 reclassification and issuance of the Liberty Interactive, Liberty Entertainment and Liberty Capital tracking stocks was structured not to be taxable to shareholders.

In November 20, 2009, shares of Liberty Entertainment were exchanged for shares of DIRECTV and the Liberty Starz tracking stock and the old Liberty Entertainment Series A and Series B shares ceased trading. Investors can no longer purchase LMDIA or LMDIB shares.

The split-off of Liberty Entertainment, Inc. and business combination with DIRECTV was structured not to be taxable to Liberty shareholders.

The September 23, 2011 split-off of Liberty Capital and Liberty Starz from Liberty Interactive was structured to not be taxable to Liberty Capital, Liberty Starz and Liberty Interactive shareholders.

As a shareholder of record of Liberty Media Corporation, you should have received a letter of transmittal to submit with your shares. If you did not receive this document or have misplaced this document, please call Broadridge, Liberty Media Corporation’s transfer agent at (888) 789-8415 and a customer service representative will be able to assist you.

Liberty Media Corporation has not paid a cash dividend on any class of its stock in the past and does not currently intend to pay cash dividends on any class of its stock.

Yes. Webcasts of meetings can be found on the IR Calendar page under the Investor Relations section of this website.

Liberty Media will report within 40 days after the end of the first, second and third quarters and within 60 days after year-end.

Liberty Media financial statements can be found on our web site under the Investor Relations section or at www.sec.gov.

To contact the Company's transfer agent, Broadridge, please go to the Contact section or you can call them directly at (888) 789-8415.

For more information on calculating your cost basis (tax basis) please visit the Stock Cost Basis page of this Web site.

We can add your name to one of our distribution lists, via our Contact Us page, you can view the Press Release section of this Web site or you can visit our Event Calendar pages on this Web site.

Liberty Media Corporation, Qurate Retail, Inc., Liberty Broadband Corporation, Liberty TripAdvisor Holdings, Inc., Starz, Liberty Global plc and Liberty Latin America Ltd. are separate public companies.

Shares of Discovery Holding Company and Liberty Global were not affected by the 2008 issuance of the Liberty Interactive, Liberty Entertainment group and Liberty Capital tracking stocks.

You can contact us via e-mail at investor@libertymedia.com or call our investor line at (877) 772-1518.

Holders of Series A and Series B common stock as of 5:00 p.m. E.D.T. time on July 7, 2014, the record date for the dividend, received a dividend of two shares of Series C common stock for each share of Series A or Series B common stock held by them as of the record date. To determine your basis allocation, click here.

In the spin-off, record holders of Liberty Media Corporation’s Series A, Series B and Series C common stock received one-fourth of a share of the corresponding series of Liberty Broadband Corporation’s common stock for every whole share of Liberty Media Corporation's common stock, with cash in lieu of fractional shares.

Immediately following the spin-off, Liberty Broadband Corporation (NASDAQ: LBRDA/B/K) was comprised of among other things, its (i) interest in Charter Communications, Inc., (ii) subsidiary TruePosition, Inc., (iii) minority equity investment in Time Warner Cable Inc., (iv) certain deferred tax liabilities, as well as liabilities related to the Time Warner Cable Inc. call option and (v) net debt of $300 million.

The Braves Group consists of Liberty Media Corporation’s wholly owned subsidiary Braves Holdings, LLC, which indirectly owns the Atlanta Braves and associated real estate projects

The Formula One Group consists of all of Liberty Media Corporation’s businesses and assets other than those attributed to the Liberty SiriusXM Group and the Braves Group, including its subsidiary Formula 1 , and a minority equity investment in AT&T Inc., as well as an intergroup interest in the Braves Group.

The Liberty SiriusXM Group consists of Liberty Media Corporation’s interests in Sirius XM Holdings, Inc., Live Nation Entertainment, Inc., iHeart Media, and intergroup interests in the Braves Group and the Liberty SiriusXM Group.

With the reclassification of Liberty Media Corporation in April 2016, each holder of Liberty Media Corporation’s former Series A, Series B and Series C common stock received:

• 1 share of the corresponding series of Liberty SiriusXM common stock
• 0.1 of a share of the corresponding series of Braves common stock
• 0.25 of a share of the corresponding series of Liberty Media common stock

Following the reclassification in April 2016 described above, the LMCA/LMCB/LMCK ticker symbols were changed to represent the new Liberty Media common stock which tracked the Liberty Media Group. Following Liberty Media’s acquisition of Formula 1 in January 2017, the Liberty Media Group was renamed the Formula One Group and the tickers were changed from LMCA/LMCB/LMCK to FWONA/FWONB/FWONK.

No. The intergroup interest that the Formula One Group holds in the Braves Group is not reflected in the number of outstanding shares of Liberty Braves common stock. The intergroup interest is represented by a notional number of shares of Liberty Braves common stock which are attributed as an asset of the Formula One Group and should be taken into account when considering the value of the Braves Group that is represented by the outstanding shares of Liberty Braves common stock. The notional shares may be converted at any time into issued and outstanding shares of Liberty Braves common stock.

The Formula One Group did not receive exercisable subscription rights in the Braves Group rights offering. Rather, the intergroup interest was adjusted pursuant to the terms of Liberty Media Corporation’s certificate of incorporation. The intergroup interest held by the Formula One Group was adjusted to approximately 15.5% (as of 11/3/2016).

The completion of the Formula 1 acquisition was not taxable to stockholders of Liberty Media for U.S. federal income tax purposes. The name change to the Formula One Group had no tax implications.

The completion of the Formula 1 acquisition was treated as a taxable transaction for the selling stockholders of Delta Topco Limited (the parent company of Formula 1) for U.S. federal income tax purposes.

The Liberty SiriusXM Group holds intergroup interests in the Braves Group and the Formula One Group. The Formula One Group also holds an intergroup interest in the Braves Group. The intergroup interests held at these entities are not reflected in the number of outstanding shares of Liberty Braves common stock or Liberty Formula One common stock, respectively. The Braves Group intergroup interests are represented by a notional number of shares of Liberty Braves common stock which are attributed as assets of the Liberty SiriusXM Group and Formula One Group, respectively, and should be taken into account when considering the value of the Braves Group that is represented by the outstanding shares of Liberty Braves common stock. The notional shares may be converted at any time into issued and outstanding shares of Liberty Braves common stock. Similarly, the Formula One Group intergroup interest is represented by a notional number of shares of Liberty Formula One common stock which are attributed as an asset of the Liberty SiriusXM Group and should be taken into account when considering the value of the Formula One Group that is represented by the outstanding shares of Liberty Formula One common stock. The notional shares may be converted at any time into issued and outstanding shares of Liberty Formula One common stock.