Liberty Media Corporation reported second quarter 2018 results. Highlights include⁽¹⁾:

• Attributed to Liberty SiriusXM Group

  • SiriusXM reported strong second quarter 2018 results

    • Added 483,000 net new self-pay subscribers in the quarter

    • Second quarter revenue climbed 6% to $1.4 billion

    • Net income grew 45% to $292 million in the quarter; diluted EPS climbed 49% to $0.06

    • Adjusted EBITDA⁽²⁾ grew 4% to $543 million

    • Operating cash flow climbed 20% to $579 million; free cash flow⁽²⁾ climbed 17% to $486 million

    • SiriusXM increased 2018 guidance for self-pay subscribers, revenue and adjusted EBITDA⁽²⁾ on July 25^th

  • Liberty Media’s ownership of SiriusXM stood at 70.5% as of July 23^rd

  • From May 1^st through July 31^st, repurchased 3.6 million LSXMK shares at an average price per share of $45.45 and total cash consideration of $161 million

• Attributed to Formula One Group

  • Entered into multi-year agreement with Amazon Web Services Inc. (“AWS”) under which AWS has become an Official Technology Provider and global sponsor for F1

  • Extended the Belgian Grand Prix

  • Repaid $125 million of F1 debt during the quarter

• Attributed to Braves Group

  • thyssenkrupp Elevator announced planned development of North American headquarters, high-rise test tower and innovation complex in Battery Atlanta

  • Progressing on sale of residential portion of Battery Atlanta

  • Braves record 61-49 as of August 7^th, second in NL East division

“It’s been an exciting season for F1 with four different winners over twelve Grands Prix. We look forward to the season starting back up in Belgium at the end of August,” said Greg Maffei, Liberty Media President and CEO. “Live Nation achieved spectacular results as all the business units continue their solid growth. SiriusXM also posted an outstanding quarter, notably with churn down to 1.6%. At the Braves, The Battery announced the planned development of thyssenkrupp’s North American Headquarters and continues with the sale of the residential assets.”

Unless otherwise noted, the following discussion compares financial information for the three months ended June 30, 2018 to the same period in 2017.