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{{Short description|American mass media company}}
{{For|Liberty Media for Women|Ms. (magazine)}}
{{for|the British-Dutch-American multinational telecommunications company|Liberty Global}}
{{Use American English|date=July 2024}}
{{Use mdy dates|date=July 2024}}
{{Infobox company
| name = Liberty Media Corporation
| logo = [[File:Liberty Media.svg|175px|class=skin-invert]]
| logo_size = 175
| type = [[Public company|Public]]
| traded_as = '''Liberty Live  Group''':<br>{{NASDAQ|LLYVA}} (Series A)<br>{{OTCQB|LLYVB}} (Series B)<br>{{NASDAQ|LLYVK}} (Series C)<br>[[Russell 1000]] components (LLYVA, LLYVK)
<br>'''Formula One Group''':<br>{{NASDAQ|FWONA}} (Series A)<br>{{OTCQB|FWONB}} (Series B)<br>{{NASDAQ|FWONK}} (Series C)<br>[[Russell 1000]] components (FWONA, FWONK)
| ISIN = {{ISIN|sl=n|pl=y|US0477261046}}<br>{{ISIN|sl=n|pl=y|US0477263026}}<br>{{ISIN|sl=n|pl=y|US5312298137}}<br>{{ISIN|sl=n|pl=y|US5312295083}}<br>{{ISIN|sl=n|pl=y|US5312297899}}<br>
{{ISIN|sl=n|pl=y|US5312297972}}<br>{{ISIN|sl=n|pl=y|US5312298707}}<br>{{ISIN|sl=n|pl=y|US5312298541}}<br>{{ISIN|sl=n|pl=y|US5312297717}}<br>{{ISIN|sl=n|pl=y|US5312297550}}
| predecessor = [[Tele-Communications Inc.]]
| founded = {{Start date and age|1991}}
| founder = [[John C. Malone]]
| location = 
| hq_location_city = [[Meridian, Colorado|Meridian]], [[Colorado]]
| hq_location_country = United States{{efn|The [[ZIP code#ZIP codes only loosely tied to cities|postal]] designation of [[Englewood, Colorado|Englewood]], a city in neighboring [[Arapahoe County, Colorado|Arapahoe County]], is used in the company's mailing address.}}
| industry = [[Mass media]]
| area_served = Global
| key_people = {{Plain list|
* [[John C. Malone]] ([[Chairperson|chairman]])
* Derek Chang ([[President (corporate title)|president]] & [[Chief executive officer|CEO]])
}}
| products = {{Plain list|
* [[Filmmaking|Film production]]
* [[Television show|TV production]]
* [[Broadcasting]]
* [[Cable television]]
* [[Sport management]]
}}
| revenue = {{increase}} {{US$|8.696 billion|link=yes}} (2021)<ref>{{Cite web |url=https://d1io3yog0oux5.cloudfront.net/_78c3454e5d22eea260048a25710c9b5f/libertymedia/db/2054/19673/annual_report/Liberty+Media+-+Annual+Report-Proxy+Statement+-+Bookmarked.pdf |title = 2021 Annual Report}}</ref>
| operating_income = {{Increase}} US$1.977 billion (2021)<ref>{{Cite web |url=https://d1io3yog0oux5.cloudfront.net/_78c3454e5d22eea260048a25710c9b5f/libertymedia/db/2054/19673/annual_report/Liberty+Media+-+Annual+Report-Proxy+Statement+-+Bookmarked.pdf |title = Inline XBRL Viewer}}</ref>
| net_income = {{Increase}} US$744 million (2021)<ref>{{Cite web |url=https://d1io3yog0oux5.cloudfront.net/_78c3454e5d22eea260048a25710c9b5f/libertymedia/db/2054/19673/annual_report/Liberty+Media+-+Annual+Report-Proxy+Statement+-+Bookmarked.pdf |title = 2021 Annual Report}}</ref>
| assets = {{nowrap|{{increase}} US$44.351 billion (2021)<ref>{{Cite web |url=https://d1io3yog0oux5.cloudfront.net/_78c3454e5d22eea260048a25710c9b5f/libertymedia/db/2054/19673/annual_report/Liberty+Media+-+Annual+Report-Proxy+Statement+-+Bookmarked.pdf |title = 2021 Annual Report}}</ref>}}
| equity = {{decrease}} US$18.262 billion (2021)<ref>{{Cite web|url=https://d1io3yog0oux5.cloudfront.net/_78c3454e5d22eea260048a25710c9b5f/libertymedia/db/2054/19673/annual_report/Liberty+Media+-+Annual+Report-Proxy+Statement+-+Bookmarked.pdf|title = 2021 Annual Report}}</ref>
| owner = 
| parent = 
| subsid = [[Formula One Group]]
| divisions = [[#Divisions|List of divisions]]
| website = {{URL|libertymedia.com}}
}}

'''Liberty Media Corporation''' (commonly referred to as '''Liberty Media''' or just '''Liberty''') is an American [[mass media]] company founded by [[John C. Malone]] in 1991. The company has two divisions, represented by separate [[Tracking stock|tracking stocks]], reflecting its ownership stakes in the [[Formula One Group]] and [[Live Nation Entertainment]]. {{asof|2025|post=,}} Liberty Media owned three global motorsport businesses in the form of [[Formula One]],<ref>{{Cite web |title=Liberty Media Corporation Series A Liberty Formula One |url=https://www.forbes.com/companies/liberty-media-corporation-series-a-liberty-formula-one/?sh=54b336d36a2d |archive-url=https://web.archive.org/web/20240325204355/https://www.forbes.com/companies/liberty-media-corporation-series-a-liberty-formula-one/?sh=54b336d36a2d |archive-date=2024-03-25 |access-date=2024-03-25 |website=[[Forbes]] |lang=en}}</ref> [[Grand Prix motorcycle racing|MotoGP]] and [[Superbike World Championship|World Superbikes]].<ref>{{Cite web |last=Corporation |first=Liberty Media |date=2025-07-03 |title=Liberty Media Corporation Completes Acquisition of MotoGP™ |url=https://www.motogp.com/en/news/2025/07/03/liberty-media-corporation-completes-acquisition-of-motogp/www.motogp.com/en/news/2025/07/03/liberty-media-corporation-completes-acquisition-of-motogp/753691 |access-date=2025-07-05 |website=The Official Home of MotoGP |language=en}}</ref>

== History ==

=== 1991–1999 ===
Liberty Media began in March 1991 as a [[Corporate spin-off|spin-off]] of [[Tele-Communications Inc.]] (TCI), a U.S. [[cable television|cable-television]] group.<ref>{{Cite web |last=Eyland |first=Gísli |date=2012-01-16 |title=Profile: Liberty Media Corp & Liberty Interactive |url=http://fundamentalfinanceplaybook.com/2012/01/16/profile-liberty-media-corp/ |access-date=2022-11-27 |website=Fundamental Finance Playbook |language=en-US}}</ref><ref>{{cite news|url=https://www.latimes.com/archives/la-xpm-1993-10-08-fi-43642-story.html|title=TCI Will Be Reunited with Liberty Media|newspaper=[[Los Angeles Times]]|date=October 8, 1993|access-date=April 8, 2024}}</ref> Peter Barton, hired by TCI's Malone, served as president until retiring in April 1997.<ref>{{Cite web |date=1997-04-03 |title=Liberty Media Chief Exec Peter Barton Resigns |url=https://www.latimes.com/archives/la-xpm-1997-04-03-fi-44785-story.html |access-date=2024-11-01 |website=Los Angeles Times |language=en-US}}</ref> The company took over TCI assets considered to have little value, but Barton completed "a deal every ten days for six years" and made the company a big success.{{source?|date=October 2025}} Liberty was merged back into TCI in the mid-1990s.<ref>{{cite web |url=http://www.alexanderstreet6.com/firp/firp.detail.documents.aspx?documentcode=OHI0022679-24069 |title=Document Details |access-date=February 24, 2009 |url-status=dead |archive-url=https://web.archive.org/web/20091004114211/http://www.alexanderstreet6.com/firp/firp.detail.documents.aspx?documentcode=OHI0022679-24069 |archive-date=October 4, 2009 }}</ref><ref>{{cite news |title=TCI, LIBERTY MEDIA AGREE IN PRINCIPLE TO A MERGER |url=https://www.deseret.com/1993/10/8/19069986/tci-liberty-media-agree-in-principle-to-a-merger/ |access-date=14 June 2025 |work=Deseret News |date=8 October 1993 |language=en}}</ref> In 1995, Liberty Media acquired a 49% ownership stake in the Faith & Values Channel (which would later be known as the [[Hallmark Channel]]), and took over operational control of the network, adding more secular and family-oriented programming. It was rebranded as the Odyssey Network in 1996.<ref name="vty">{{cite news|last1=Katz|first1=Richard|title=Hallmark into Odyssey|url=https://variety.com/1998/tv/news/hallmark-into-odyssey-1117478004/|access-date=January 9, 2018|work=Variety|date=June 29, 1998|archive-date=January 10, 2018|archive-url=https://web.archive.org/web/20180110174422/http://variety.com/1998/tv/news/hallmark-into-odyssey-1117478004/|url-status=live}}</ref> On March 13, 1998, Liberty Media Group and TCI Group announced the merger of [[Starz Encore|Encore]] and [[Starz|STARZ!]] into a single company—Encore Media Group, owned by Liberty. Encore was taking advantage of the growth of [[digital cable]], while TCI, which had previously owned twenty percent of Encore, was more interested in traditional cable.<ref>{{cite news|url=https://variety.com/1998/biz/news/liberty-to-be-full-owner-of-encore-media-group-1117468763/|title=Liberty to be full owner of Encore Media Group|magazine=[[Variety (magazine)|Variety]]|date=March 15, 1998|access-date=April 8, 2024}}</ref><ref>{{Cite news |date=July 7, 1986 |title=BRIEFING; Liberty's Encore |url=https://www.nytimes.com/1986/07/07/us/briefing-liberty-s-encore.html |work=NY Times}}</ref>

After [[United States Department of Justice|U.S. Department of Justice]] approval that required TCI to sell its 23.5% interest in [[Sprint Nextel|Sprint Corporation PSC]],<ref>{{cite news |title=TCI To Sell Sprint PCS Stake; U.S. OKs Merger with AT&T|url=https://www.latimes.com/archives/la-xpm-1998-dec-31-fi-59210-story.html |work= [[Los Angeles Times]] |page=C-3 |date= December 31, 1998 |access-date= February 24, 2009 }}</ref> TCI was acquired by [[AT&T Corporation|AT&T]] on March 9, 1999, for approximately $48 billion.<ref>{{Cite web |title=AT&T-TCI merge nears go - Feb. 17, 1999 |url=https://money.cnn.com/1999/02/17/deals/att/ |access-date=2024-11-01 |website=money.cnn.com}}</ref><ref>{{Cite web |date=1999-04-06 |title=TCI Music Soars On Liberty Bid - CBS News |url=https://www.cbsnews.com/news/tci-music-soars-on-liberty-bid/ |access-date=2024-11-01 |website=www.cbsnews.com |language=en-US}}</ref> Liberty Media merged with TCI Ventures Group LLC (TCIVA), TCI's telephone and Internet businesses, and the resulting company became part of AT&T, giving Liberty Media $5.5 billion to repurchase stock or buy other companies. AT&T bought the other TCI businesses—[[@Home Network|@Home Corp.]], National Digital Television Center and Western Tele-Communications Inc.—for $2.5 billion in cash. TCI chairman Malone, who became head of the new company, said buyers would not want all of TCI, but they would be interested in Liberty Media.<ref>{{cite news |title=The New TCI: What's Left? |url=https://money.cnn.com/1998/06/24/companies/liberty | publisher = [[CNNMoney.com]] |date= June 24, 1998 |access-date= May 6, 2009 }}</ref> Malone wanted to start a finance unit similar to [[GE Capital]], which could start new cable or Internet services. TCI had already planned [[digital cable]] [[Cable converter box|set-top boxes]].<ref>{{cite news |title=Liberty Media, TCI Ventures To Merge|url=https://www.latimes.com/archives/la-xpm-1998-jun-25-fi-63411-story.html|work= [[Los Angeles Times]] |page=D-7 |date= June 25, 1998 |access-date= February 24, 2009 }}</ref>

On September 28, 1998, Liberty Media announced the formation of Liberty Interactive, a company which would take advantage of new technologies such as set-top boxes to develop [[Interactivity|interactive]] programming. The company would own 86% of TCI Music Inc. ([[NASDAQ]] symbol: TUNE/TUNEP). {{asof|1999|1|1|post=,|df=US}} [[E!]] president and CEO Lee Masters would become the new company's CEO, and Bruce Ravenel would be [[chief technology officer]].<ref>{{Cite web |last=Katz |first=Richard |date=1998-09-29 |title=Masters logs on to Liberty Interactive |url=https://variety.com/1998/digital/news/masters-logs-on-to-liberty-interactive-1117480859/ |access-date=2024-11-01 |website=Variety |language=en-US}}</ref><ref name=":0" />

On June 2, 1999, Liberty announced that it would acquire the Associated Group for $2.8 billion.<ref>{{cite news|url=https://www.nytimes.com/1999/06/02/business/liberty-media-agrees-to-acquire-associated-group.html|title=Liberty Media Agrees to Acquire Associated Group|newspaper=[[The New York Times]]|date=June 2, 1999|access-date=April 8, 2024}}</ref>

On September 10, 1999, Liberty Media Group renamed TCI Music to Liberty Digital Inc. (NASDAQ symbol: LDIG), with the new company trading on NASDAQ's National Market tier, after Liberty Media traded most of its Internet content, interactive television assets, and rights to provide AT&T's cable systems with interactive services, in addition to cash and notes valued at $150 million, for TCI Music stock. Masters, who became Liberty Digital's CEO, told ''[[The Wall Street Journal]]'' that the new company had a value of $1 billion, $650 million of that from the interactive unit of Liberty Media, which had also used the name Liberty Digital.<ref>{{Cite web|title = Liberty Media, TCI Form Internet Group—InternetNews.|url = http://www.internetnews.com/bus-news/article.php/93631/Liberty%20Media%20TCI%20Form%20Internet%20Group.htm|website = www.internetnews.com|access-date = April 24, 2015}}</ref> Liberty Digital lost $244 million with revenue of $66 million in 1999, thanks to investments in struggling Internet businesses homegrocer.com, [[drugstore.com]], [[TiVo]] and [[iVillage]]. In August 2000, the company bought a 50% stake in the Sony Pictures-owned [[Game Show Network]] because of its interactive features.<ref name=":0">{{cite news | author = Doan, Amy |title=Liberty Is Sweet on Interactive TV
 |url=https://www.forbes.com/2000/08/26/feat.html |work= [[Forbes]] |date= August 26, 2000 |access-date= March 5, 2009 }}</ref><ref>{{cite news|last=Goldsmith|first=Jill|url=https://variety.com/2000/tv/news/liberty-plays-game-1117785365/|title=Liberty plays game|magazine=Variety|date=August 22, 2000|access-date=April 9, 2024}}</ref>

Another new company, Liberty Livewire, was formed from [[Todd-AO]] and two other companies by Liberty Media, which provided audio and video post-production services. David Beddow of TCI became CEO.<ref>{{Cite web|title = Liberty Livewire Corporation—Company Profile, Information, Business Description, History, Background Information on Liberty Livewire Corporation|url = http://www.referenceforbusiness.com/history2/2/Liberty-Livewire-Corporation.html|website = www.referenceforbusiness.com|access-date = April 24, 2015}}</ref>

=== 2000–present ===
Liberty Media's [[Discovery Channel]] and QVC continued to do well, but the newer projects had problems and the company's stock price dropped by half. If AT&T agreed to spin off Liberty Media, new deals such as a possible News Corp. purchase of [[DirecTV]] would be easier because AT&T would no longer require federal approval to complete such deals.<ref>{{cite news | author = Colman, Price |title=No Triumph for Liberty: What Went Wrong and How Bennett and Malone Expect To Make It Right |url=http://www.broadcastingcable.com/article/145735-No_Triumph_for_Liberty.php |work= [[Broadcasting & Cable]] |page=D-7 |date= November 26, 2000 |access-date= February 24, 2009 }}</ref>  Liberty Media was spun off from AT&T on August 10, 2001.<ref>{{cite news |author= Farrell, Mike |title= AT&T To Spin Off Liberty Aug. 10 |url= http://www.multichannel.com/article/55449-AT_T_to_Spin_Off_Liberty_Aug_10.php |work= [[Multichannel News]] |date= June 18, 2001 |access-date= May 6, 2009 |archive-date= July 25, 2012 |archive-url= https://web.archive.org/web/20120725004428/http://www.multichannel.com/article/55449-AT_T_to_Spin_Off_Liberty_Aug_10.php |url-status= dead }}</ref> This was one of three possible actions to ensure federal approval of AT&T's $54 billion acquisition of [[MediaOne Group]]—the others were selling its 25.5% share of [[Time Warner|Time Warner Entertainment]] and dropping 11.8 million cable customers.<ref>{{cite news |title=AT&T To Spin Off Liberty |url=https://money.cnn.com/2000/11/15/deals/liberty | publisher = [[CNNMoney.com]] |date= November 15, 2001 |access-date= May 6, 2009 }}</ref><ref>{{cite news|url=https://www.latimes.com/archives/la-xpm-2000-nov-16-fi-52713-story.html|title=AT&T; Votes to Spin-Off Liberty Media Group|newspaper=Los Angeles Times|date=November 16, 2000|access-date=April 8, 2024}}</ref> Also in 2001, Liberty Media acquired the remainder of Liberty Digital and Liberty Satellite & Technology (formerly TCI Satellite). Both companies were independent spinoffs of TCI, though Liberty already owned 90% of both companies after the exchange for Sprint PCS stock. Being independent increased their asset values, but the stock prices of both dropped, negating any benefits.<ref>{{Dead link|date=October 2010|bot=H3llBot}} Alleyne, Llanor (October 16, 2001). "Liberty Absorbing Digital, Satellite Units". ''[[Broadcasting & Cable]]''.</ref><ref>{{cite news |title=Gates Stake Lifts Liberty Satellite |url=http://www.multichannel.com/article/126427-Gates_Stake_Lifts_Liberty_Satellite |work= [[Multichannel News]] |date= April 22, 2001 |access-date= May 6, 2009 }}</ref>

In June 2002, Liberty Media acquired Wink Communications, a maker of set-top boxes founded by [[Brian P. Dougherty]] (of [[GEOS (8-bit operating system)|GEOS]] fame), for $100&nbsp;million.<ref>{{cite web | last=Staff writer | date=June 24, 2002 | url=https://www.wsj.com/articles/SB1024924662980303680 | title=Liberty Media to Acquire Wink for About $100 Million | work=The Wall Street Journal | publisher=Dow Jones & Company }}</ref> Liberty Media subsequently spent $5 billion on nine [[Germany|German]] regional cable networks. Apart from television distribution it held major interests in other groups. For example, it was the largest shareholder in News Corporation (though the founding [[Rupert Murdoch|Murdoch family]] owns more [[Voting interest|voting shares]]), and had a 4% stake in Time Warner. In June 2005, Liberty Media International combined with UnitedGlobalCom, creating [[Liberty Global]]. In July 2005, the Discovery networks were spun off as [[Discovery Holding Company]].<ref>{{cite news |last1=Siklos |first1=Richard |last2=Fabrikant |first2=Geraldine |title=Another Spinoff Completed in Remaking Liberty Media |url=https://www.nytimes.com/2005/07/22/business/media/another-spinoff-completed-in-remaking-liberty-media.html |access-date=11 June 2025 |work=The New York Times |date=22 July 2005}}</ref> In May 2006, Time Warner acquired Liberty Media's 50% stake in [[Court TV]], for $735 million.<ref>{{cite news |title=Time Warner Takes Control of Court TV |url=https://money.cnn.com/2006/05/12/news/companies/courttv/index.htm | publisher = CNNMoney.com|date= May 12, 2006 |access-date= May 6, 2009 }}</ref> On May 16, 2006, IDT sold its IDT Entertainment division to Liberty Media "for all of Liberty Media's interests in IDT, $186 million in cash and the assumption of existing indebtedness". IDT Entertainment's assets and [[Starz Entertainment Group]]'s line of premium television channels combined to produce content for all distribution platforms, and IDT Entertainment was later renamed as Starz Media.<ref>(Press Release) http://www.idt.net/about/press/story.aspx?id=15601 {{Webarchive|url=https://web.archive.org/web/20110723122112/http://www.idt.net/about/press/story.aspx?id=15601 |date=July 23, 2011 }} [[IDT Corporation]]. Retrieved January 2, 2009.</ref><ref>{{cite news|url=https://www.awn.com/news/liberty-media-buying-idt-ent-propel-starz-ent-group-programming|title=Liberty Media Buying IDT Ent to Propel Starz Ent. Group Programming|website=[[Animation World Network]]|date=May 16, 2006|access-date=April 8, 2024}}</ref>

Liberty negotiated an asset swap with News Corp. and Time Warner that would give it control of [[DirecTV]] and the [[Atlanta Braves]] baseball team.<ref>Lieberman, David (December 26, 2006). "Liberty Media Deals for DirecTV". ''[[USA Today]]''.</ref> On February 12, 2007, a deal was completed with Time Warner, wherein Liberty would receive the Atlanta Braves and a group of craft magazines, along with $1 billion in cash, in exchange for 60 million shares of Time Warner stock (valued at $1.27 billion as of market close on February 12, 2007).<ref>Blum, Ronald (February 13, 2007). "Time Warner Reaches Deal to Sell Braves". ''[[The Washington Post]]''.</ref> The deal was approved by [[Major League Baseball]] and then completed on May 16, 2007.<ref>(Press Release) http://www.timewarner.com/corp/print/0,20858,1622200,00.html{{dead link|date=September 2017 |bot=InternetArchiveBot |fix-attempted=yes }} [[Time Warner]]. Retrieved May 6, 2009.</ref> On February 20, 2008, the [[Federal Communications Commission]] approved the exchange of 16.3% of News Corp. for 38.4% of DirecTV, an $11 billion deal that also gave Liberty sports networks in [[Fox Sports Rocky Mountain|Denver]], [[Fox Sports Pittsburgh|Pittsburgh]] and [[FSN Northwest|Seattle]] plus $550 million in cash.<ref>{{cite news | author = Hearn, Ted |title=Liberty Media Completes DirecTV Buyout |url=http://www.multichannel.com/article/132230-FCC_Approves_Liberty_Takeover_of_DirecTV.php |work= [[Multichannel News]] |date= February 25, 2008 |access-date= May 6, 2009 }}</ref>

In April 2007, Liberty completed a purchase of [[Green Bay, Wisconsin|Green Bay]], [[Wisconsin]], television station [[WFRV-TV]], and [[satellite station]] [[WJMN-TV]] in [[Escanaba, Michigan|Escanaba]], [[Michigan]], which serves the [[Marquette, Michigan|Marquette]], Michigan, market. The deal was part of a swap of 7.59 million shares of common stock in [[CBS]], the stations' owner, that was held by Liberty Media; in exchange for the stock, CBS gave Liberty the stations and $170 million in cash.<ref>{{cite web |url=http://www.cbscorporation.com/news/prdetails.php?id=2043 |title=CBS Corporation |access-date=April 11, 2007 |url-status=dead |archive-url=https://web.archive.org/web/20070501221858/http://www.cbscorporation.com/news/prdetails.php?id=2043 |archive-date=May 1, 2007 }}. [[CBS Corporation]]. Retrieved January 2, 2009.</ref> Liberty announced plans in April 2011 to sell WFRV and WJMN to [[Nexstar Media Group|Nexstar Broadcasting Group]] for $20 million.<ref>[http://www.broadcastingcable.com/article/466440-Nexstar_to_Acquire_CBS_Affiliates_WFRV_WJMN_For_20_Mil.php "Nexstar To Acquire CBS Affiliates WFRV, WJMN for $20 Mil"]. ''[[Broadcasting & Cable]]''. April 7, 2011.</ref><ref>{{cite press release|url=https://www.businesswire.com/news/home/20110701005139/en/Nexstar-Broadcasting-Completes-Acquisition-of-CBS-Affiliates-WFRV-TV-and-WJMN-TV-for-20-Million-in-Accretive-Transaction|title=Nexstar Broadcasting Completes Acquisition of CBS Affiliates WFRV-TV and WJMN-TV for 20 Million in Accretive Transaction|publisher=Nexstar Broadcasting Group|agency=[[Business Wire]]|date=July 1, 2011|access-date=April 8, 2024}}</ref>

On September 3, 2008, Liberty Media decided to initiate the process of spinning off Liberty Entertainment to Liberty Media shareholders, leaving Malone with a majority ownership of the new company.<ref>[http://phx.corporate-ir.net/phoenix.zhtml?c=61138&p=irol-newsArticle&ID=1193113&highlight=] {{Webarchive|url=https://web.archive.org/web/20151019180955/http://phx.corporate-ir.net/phoenix.zhtml?c=61138&p=irol-newsArticle&ID=1193113&highlight=|date=October 19, 2015}}. Retrieved January 2, 2009.</ref> On May 4, 2009, The DirecTV Group Inc. said it would become a part of Liberty's entertainment unit, part of which would then be spun off as a separate company called DirecTV. The new company would also acquire Liberty's 100% interests in the three [[Fox Sports Net|FSN]] networks and its 50% interest in [[Game Show Network|GSN]]. The rest of the unit would be traded as Liberty Starz. Liberty would increase its share of DirecTV from 48 to 54%, with Malone and his family owning 24%.{{citation needed|date=August 2011}} On May 4, 2009, Liberty announced that it would split off Liberty Entertainment, Inc., a subsidiary owning the three Fox Sports Net (FSN) channels (now Root Sports) acquired under the swap with News Corp. and Liberty's 65% interest in [[Game Show Network|GSN]], into a separate company that would merge with The DirecTV Group, reducing Liberty owner [[John Malone]]'s stake in DirecTV to 24%.<ref>{{cite news |author1=Mullaney, Tim |author2=Riddell, Kelly |date=May 4, 2009 |title=DirecTV Group To Combine with Liberty Entertainment |publisher=[[Bloomberg L.P.|Bloomberg]] |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=auGzOOELO3.0}}</ref> The merger was completed on November 19, 2009, with The DirecTV Group and Liberty Entertainment becoming subsidiaries of a new company named DirecTV.<ref>{{cite web |date=November 19, 2009 |title=DirecTV Completes Merger Transaction with Liberty Media |url=http://investor.directv.com/releasedetail.cfm?releaseid=425628 |publisher=[[DirecTV]]}}</ref>

On February 17, 2009, Liberty announced that it would invest up to $530 million into the struggling [[Sirius XM Radio|Sirius XM Radio Inc.]], in a structured deal that would help the satellite radio provider avoid filing bankruptcy protection by meeting its obligations. The deal provided two board seats for Liberty Media, and provided cash for operations and development, with a maturity date of December 2012 for the loan.<ref>{{Cite web|title = Liberty Media Saves Sirius XM From Bankruptcy|url = https://www.cnbc.com/2009/02/17/liberty-media-saves-sirius-xm-from-bankruptcy.html?__source=RSS*blog*&par=RSS|access-date = April 24, 2015|first = Julia|last = Boorstin| website=[[CNBC]] |date = February 17, 2009}}</ref> On March 6, the two companies approved the second part of the deal, with Sirius XM getting $250 million immediately and Liberty receiving 12.5 million shares of preferred stock convertible into a 40% ownership of Sirius XM [[common stock]].<ref>{{Cite web|title=Radio Ink Magazine |url=http://www.radioink.com/Article.asp?id=1202155&spid=24698#Scene_1 |website=www.radioink.com |access-date=April 24, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20151019180955/http://www.radioink.com/Article.asp?id=1202155&spid=24698 |archive-date=October 19, 2015 }}</ref> On June 16, 2010, Malone exchanged his [[preferred stock]] in DirecTV with equivalent amounts of [[common stock]], reducing his voting interest in the company from 24% to 3%, with Malone resigning as chairman and ending his managerial role at DirecTV.<ref>{{cite web |date=June 16, 2010 |title=DirecTV Completes Malone Exchange Transaction |url=http://dtv.client.shareholder.com/releasedetail.cfm?ReleaseID=480109 |url-status=dead |archive-url=https://web.archive.org/web/20100817165936/http://dtv.client.shareholder.com/releasedetail.cfm?ReleaseID=480109 |archive-date=August 17, 2010 |publisher=[[DirecTV]]}}</ref> That same year, Liberty Media announced that it would spin off Liberty Starz and Liberty Capital and keep [[Liberty Interactive]]. The spinoff took the name Liberty CapStarz, but renamed itself Liberty Media in 2011.<ref>{{Cite web|url=https://www.aol.com/2010/06/21/liberty-media-spin-off-liberty-capital-liberty-starz/|title=Liberty Media Will Spin Off Liberty Capital and Liberty Starz|author=<!--Staff writer(s); no by-line.-->|website=AOL.com|date=July 15, 2016 }}</ref><ref>{{Cite web|url=http://www.libertyinteractive.com/overview/company-history.html|title=Company History|website=www.libertyinteractive.com|date=2024 }}</ref> On the [[Fortune 500]] list 2011, Liberty Media was ranked 224, moving up from 2010 when they were ranked 227.<ref>{{cite web |url= https://money.cnn.com/magazines/fortune/fortune500/2011/snapshots/11022.html |title=Fortune 500 2011: Top 500 American Companies—Liberty Media—LCAPA—Fortune on CNNMoney.com|publisher = [[CNNMoney.com]] |year=2011 |access-date=August 9, 2011}}</ref>

In May 2011, Liberty announced it was in talks to buy the [[Barnes & Noble]] bookstore chain for $1.02 billion.<ref>[https://www.wsj.com/articles/SB10001424052748704816604576333912044290724 ''Liberty Media Bids for Barnes & Noble'', Russell Adams and Jeffrey A. Trachtenberg, Wall St Journal, 20 May 2011]. Retrieved: August 21, 2013.</ref> It eventually bought a 16% stake in the form of preferred stock in Barnes & Noble for $204 million.<ref>[https://dealbook.nytimes.com/2011/08/18/liberty-buys-a-stake-in-barnes-noble-for-204-million/?_r=0 ''Liberty Buys a Stake in Barnes & Noble for $204 Million'', Michael J. De La Merced, Dealbook, New York Times, 18 August 2011]. Retrieved: August 21, 2013.</ref> On August 8, 2012, Liberty Media announced that it would spin off Starz into a separate publicly traded company.<ref>"New York Deadline" [https://deadline.com/2012/08/liberty-media-starz-spin-off-315388/ Liberty Media Says It Will Spin Off Starz] deadline.com, Retrieved on August 8, 2012</ref> The spin-off of [[Starz Inc.]] was completed on January 15, 2013.<ref>"Yahoo Finance" [https://finance.yahoo.com/news/liberty-media-spins-off-starz-135852048.html Liberty Media Spins-off Starz] finance.yahoo.com Zacks Equity Research, Retrieved on January 24, 2013</ref> The company agreed in March 2013 to pay $2.62 billion for 27.3% of [[Charter Communications]] from Apollo Global Management, Oaktree Capital Management and Crestview Partners with the provision that Liberty would not increase its stake past 35% until after January 2016 but no more than 39.99%.<ref>Lieberman, David. [https://deadline.com/2013/03/liberty-media-pay-stake-charter-communications-456653/ Liberty Media To Pay $2.62B For 27.3% Of Charter Communications]. March 19, 2013. Deadline.com.</ref> By May 1, Liberty completed the transaction and placed four directors on Charter's board.<ref>[https://deadline.com/2013/05/liberty-completes-charter-stake-purchase-488223/ Liberty Completes $2.6B Charter Purchase; John Malone Among Board Additions]. May 1, 2013. Deadline.com.</ref>

In 2014, Liberty Media spun off TruePosition and its holdings in [[Charter Communications]] into a new company, Liberty Broadband.<ref>{{Cite web| title = Liberty Media spinning cable businesses into new Liberty Broadband unit| work = FierceCable| access-date = September 24, 2017| url = http://www.fiercecable.com/cable/liberty-media-spinning-cable-businesses-into-new-liberty-broadband-unit}}</ref> In late 2016, Liberty Media agreed to buy the [[Formula One Group]] for US$4.4 billion (£3.3 billion).<ref>{{Cite news |url= https://www.bbc.co.uk/news/business-37303230 |title= US media firm Liberty Media to buy Formula 1 |date= September 7, 2016 }}</ref> The deal was finalized in January 2017 for a total of US$4.6 billion (£3.44 billion).<ref>{{Cite news|url=https://www.forbes.com/sites/csylt/2017/08/15/revealed-how-liberty-media-bought-formula-one-for-301-million/|title=Revealed: How Liberty Media Bought Formula One For $301 Million|last=Sylt|first=Christian|work=Forbes|access-date=June 5, 2018|language=en}}</ref> 

On November 17, 2022, Liberty Media announced that it would split off the Atlanta Braves and its associated real estate development project, and create a new Liberty Live Group tracking stock to hold Liberty's 35% stake in Live Nation.<ref>{{cite web|last1=Feuer|first1=Will|title=You Can Soon Buy Stock Directly in the Atlanta Braves|url=https://www.wsj.com/articles/liberty-media-to-split-off-mlbs-atlanta-braves-11668690744|website=Wall Street Journal|date=November 17, 2022|access-date=November 17, 2022}}</ref> Liberty Media acquired ticket distributor and hospitality group QuintEvents for $313 million in September 2023.<ref>{{Cite web |date=2023-09-06 |title=Liberty Media buys QuintEvents for $313M |url=https://www.sportsbusinessjournal.com/Articles/2023/09/06/liberty-media-buys-quintevents.aspx |access-date=2023-09-15 |website=www.sportsbusinessjournal.com |language=en}}</ref>

In December 2023, Liberty Media and SiriusXM agreed to create a new public company, "New SiriusXM", although it would continue to operate under the name and brand SiriusXM. The move was intended to created a simplified ownership structure and greater strategic flexibility.<ref>{{Cite web|lang=en|url=https://advanced-television.com/2023/12/13/siriusxm-liberty-media-restructure-ownership/|title=SiriusXM, Liberty Media restructure ownership|website=Advanced Television|date=December 13, 2023 |access-date=2024-03-25|archive-date=2024-03-25|archive-url=https://web.archive.org/web/20240325204741/https://advanced-television.com/2023/12/13/siriusxm-liberty-media-restructure-ownership/}}</ref> The spin-off was completed on September 9, 2024.<ref>{{Cite web |date=2025 |title=Company History |url=https://www.libertymedia.com/about/company-history |access-date=2025-10-22 |website=Liberty Media Corporation |language=en}}</ref>

On April 1, 2024, Liberty Media announced its planned acquisition of 84% of [[Dorna Sports]], which own [[Grand Prix motorcycle racing|MotoGP]] and [[Superbike World Championship|WSBK]].<ref>{{cite web|url=https://www.motogp.com/en/news/2024/04/01/liberty-media-announces-acquisition-of-motogp/493938 |title=Liberty Media announces acquisition of MotoGP™|date=1 April 2024 |website=MotoGP.com}}</ref><ref>{{Cite web |title=Liberty Media to acquire Dorna |url=https://www.worldsbk.com/en/news/2024/Liberty+Media+to+acquire+Dorna |access-date=2024-04-01 |website=www.worldsbk.com}}</ref>

On June 23, 2025, Liberty Media was given the go ahead by the European Commission to acquire Dorna Sports. The deal, completed on July 3, 2025, made Dorna a part of the Formula One Group.<ref>{{Cite web |date=2025-06-23 |title=European Commission Approves Liberty Media's Acquisition of MotoGP™ |url=https://www.libertymedia.com/investors/news-events/press-releases/detail/561/european-commission-approves-liberty-medias-acquisition |access-date=2025-06-23 |website=Liberty Media Corporation |language=en}}</ref><ref>{{Cite web |last=motogp.com |date=2025-06-23 |title=European Commission approves Liberty Media's acquisition of MotoGP™ |url=https://www.motogp.com/en/news/2025/06/23/european-commission-approves-liberty-medias-acquisition-of-motogp/www.motogp.com/en/news/2025/06/23/european-commission-approves-liberty-medias-acquisition-of-motogp/752803 |access-date=2025-06-23 |website=The Official Home of MotoGP |language=en }}{{Dead link|date=September 2025 |bot=InternetArchiveBot }}</ref><ref>{{Cite web |title=European Commission approves Liberty Media's acquisition of Dorna |url=https://www.worldsbk.com/en/news/2025/European+Commission+approves+Liberty+Medias+acquisition+of+Dorna |access-date=2025-06-23 |website=www.worldsbk.com}}</ref><ref name=":1">{{Cite web |date=2025-07-04 |title=Liberty Media completes acquisition of MotoGP {{!}} Crash.net |url=https://www.crash.net/motogp/feature/1075679/1/liberty-media-completes-acquisition-motogp |access-date=2025-07-04 |website=Crash.net |language=en}}</ref>

== Divisions ==
Liberty has issued [[tracking stock]]s for each of the three divisions, and each tracking stock is in three individual series (A, B and C) having individual voting rights, meaning that the company's common stock trades under nine individual stock symbols. Seven of the nine are listed on the [[Nasdaq stock market]] and two trade [[Over-the-counter (finance)|over the counter]].<ref>[https://www.sec.gov/ix?doc=/Archives/edgar/data/1560385/000155837022007569/lmca-20220331x10q.htm 2022 First quarter Form 10-Q]</ref><ref>{{Cite web |date=2025 |title=Asset List |url=https://www.libertymedia.com/about/asset-list |access-date=2025-10-22 |website=Liberty Media Corporation |language=en}}</ref>

=== Liberty Live Group (LLYVA/B/K) ===
* [[Live Nation Entertainment]] (30%)
* Associated Partners (33%)
* Griffin Gaming Fund (3%)
* [[INRIX]] (4%)
* [[Ball Arena|Kroenke Arena Company]] (7%)
* Liberty Technology Venture Capital (80%)
* [[Overtime (sports network)|Overtime Sports]] (7%)

=== Formula One Group (FWONA/B/K) ===
* [[Formula One Group]]
* [[Dorna Sports]] (84%)
* F1 Arcade (24%)
* LV Diamond Property I
* [[Meyer Shank Racing]] (30%)
* QuintEvents

=== Former assets ===
* [[Atlanta Braves]]
* [[truTV|Court TV (now TruTV)]] — this was a 50% stake with Time Warner (now WBD) which bought the other 50% of Court TV on May 12, 2006, for $735 million.<ref>http://www.timewarner.com/corp/newsroom/pr/0,20812,1193700,00.html {{Webarchive|url=https://web.archive.org/web/20081118014419/http://www.timewarner.com/corp/newsroom/pr/0,20812,1193700,00.html |date=November 18, 2008 }}. [[Time Warner]]. Retrieved January 2, 2009.</ref>
* Two CBS affiliates — [[WFRV-TV]] (Channel 5), in [[Green Bay, Wisconsin]], and its semi-satellite, [[WJMN-TV]] (Channel 3), in [[Escanaba, Michigan]], (under "WFRV and WJMN Television Station, Inc.") (Sold to [[Nexstar Media Group|Nexstar Broadcasting Group]])
* [[DirecTV Sports Networks]]: Owners of [[FSN Pittsburgh]], [[FSN Rocky Mountain]]/[[FSN Utah]], and [[FSN Northwest]] (now [[AT&T SportsNet]])
* Liberty's 48% interest in [[DirecTV]]
* Liberty's 50% interest in [[Game Show Network|GSN]] (Game Show Network)
* [[FUN Technologies]], including Fanball
* [[Overture Films]]
* [[Starz Entertainment]] (including [[Starz (TV channel)|Starz]] and [[Encore (Premium TV)|Encore]])—(75%); [[The Weinstein Company]], (25%) Spun off as Starz Inc. on January 15, 2013. Acquired by [[Lionsgate Films|Lionsgate]] on December 8, 2016, but split eight/nine years later.
* [[Sportsnet|Sportsnet (formerly CTV Sportsnet)]] (20%)—now wholly owned by Canada-based [[Rogers Media]].<ref>{{cite web | url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=amaULefU2LIg | title=Rogers Communications Buys Stake in Sports Network for C$45 Mln | publisher=Bloomberg | date=December 29, 2004 | access-date=May 10, 2015}}</ref>
* [[PBS NewsHour|MacNeil/Lehrer Productions]] (67%) — sold to [[WETA-TV]] (DC PBS).
* TruePosition, a company providing law enforcement and security agencies with position data.
* Liberty’s 35% interest on [[BET]] with Robert Johnson, sold to Viacom (now [[Paramount Skydance]]) in 2001, along with Johnson.
* Liberty’s 35% interest on [[Telemundo]] with [[Sony Pictures]], sold to NBC in 2001.
* [[SiriusXM]] (83%) - spun-off in 2024.

== Controversies ==
Liberty Media has come under pressure from [[People for the Ethical Treatment of Animals]] (PETA), thanks to [[GCI (company)|GCI]] company, an Alaska-based subsidiary of Liberty Broadband. GCI is a corporate sponsor of the [[Iditarod Trail Sled Dog Race|Iditarod]], an Alaskan dogsledding race that has lost multiple participants and sponsorships over the years.<ref>Klecka, Joey (March 3, 2023). [https://www.alaskasnewssource.com/2023/03/03/by-numbers-iditarod-51-feature-smallest-field-ever/ "By the numbers: Iditarod 51 to feature smallest field ever"]. ''[https://www.alaskasnewssource.com/ https://www.alaskasnewssource.com]''. Retrieved August 18, 2023.</ref> More than a dozen companies, including ExxonMobil, Alaska Airlines, and Chrysler, have dropped their Iditarod sponsorships over the years, amidst campaign efforts from PETA showing the conditions endured by dogs during and between races.<ref>{{Cite web |date=2021-01-22 |title=ExxonMobil becomes latest sponsor to sever Iditarod ties |url=https://apnews.com/article/alaska-animals-health-anchorage-coronavirus-pandemic-6295a19c698229b8e772afdee2785f17 |access-date=2023-08-18 |website=AP News |language=en}}</ref> Animal advocates have made pleas to Liberty Media CEO Greg Maffei to end GCI’s Iditarod sponsorship.<ref>{{Cite web |date=2023-05-16 |title=Liberty Media CEO Says Formula One Circuit Not For Sale |url=https://www.yahoo.com/entertainment/liberty-media-ceo-says-formula-212949064.html |access-date=2023-08-18 |website=Yahoo Entertainment |language=en-US}}</ref> Maffei has not released a statement on GCI’s sponsorship. According to PETA, more than 150 dogs have died while running the Iditarod, and that number does not include dogs they say are killed during the off-season because they aren’t fast or fit enough.<ref>Zak, Annie; March 4, Tegan Hanlon Updated:; March 4, 2018 Published:; 2018. [https://www.adn.com/outdoors-adventure/iditarod/2018/03/03/citing-dog-deaths-peta-brings-a-protest-to-the-iditarod-starting-line/ "Citing dog deaths, PETA brings a protest to the Iditarod starting line"]. ''Anchorage Daily News''. Retrieved August 18, 2023.</ref>

== See also ==
{{Portal|Companies|Film|Television}}
* [[List of Colorado companies]]
{{clear}}

== Notes ==
{{Notelist}}

== References ==
{{Reflist}}

== External links ==
<!-- {{sister project links|auto=yes}} -->
* {{Official website}}


{{Liberty Media}}
{{Prime Network}}
{{MLB Owners}}
{{Atlanta Braves owners}}
{{Authority control|state=expanded}}

[[Category:Liberty Media| ]]
[[Category:American companies established in 1991]]
[[Category:Mass media companies established in 1991]]
[[Category:Douglas County, Colorado]]
[[Category:Companies based in Colorado]]
[[Category:Corporate spin-offs]]
[[Category:Conglomerate companies of the United States]]
[[Category:Holding companies of the United States]]
[[Category:Companies listed on the Nasdaq]]
[[Category:Film production companies of the United States]]
[[Category:Atlanta Braves owners]]
[[Category:Formula One]]
[[Category:Companies traded over-the-counter in the United States]]