Liberty Media, a company controlled by billionaire magnate John Malone that owns assets such as audio entertainment giant SiriusXM, the Atlanta Braves baseball club and Formula 1 race track, reported its quarterly financials. 4 improved on Friday. And it has touted prospects for live events giant Live Nation Entertainment.
Quarterly revenue at the Atlanta Braves nearly tripled from $35 million to $102 million, while Formula One Group revenue grew 62.3% to $787 million, the company revealed in the report. his income. SiriusXM, home of Howard Stern, recorded a 4.2% revenue increase in the final quarter of 2021 to $2.28 billion.
In terms of operating income, Liberty SiriusXM Group turned from a $527 million loss to a $450 million profit in the fourth quarter, the Braves’ losses narrowed from $35 million to $1 million, and Formula One operating results up from a loss of $41 million. made a profit of $62 million.
Liberty Media, led by president and chief executive officer Greg Maffei, saw its total operating income hit $511 million for the three months ended December 31. loss of $603 million in the same period last year. Total revenue for the quarter grew from billion dollars to billion dollars.
“It’s a good end to 2021 for Liberty companies,” Maffei said. The end of the Formula 1 World Championship couldn’t be more thrilling. Exciting action on the track continues to power the business’ flywheel, and we’ve recently made multiple announcements around value-creating deals.”
He also touted that SiriusXM “hits record sales and adjusted earnings before interest, taxes, depreciation and amortization” and that the Atlanta Braves are “still achieving the glory of their World Series title. ”
And he praised the positive momentum at Live Nation, in which Liberty owns a 31 percent stake, according to its website. The company “benefited from incredible fan demand in the second half of the year, and all leading indicators posted record performance in 2022,” he said. Overall, “we enter this year full of energy and excitement for the next areas of development around the world,” Maffei said.
