Liberty Media Reports Record Revenue

Liberty Media Corporation today reported first quarter 2016 results. Highlights include (1):

Completed Recapitalization (the “Recapitalization”) into three tracking stock groups on April 15th

Attributed to Liberty SiriusXM Group

• SiriusXM reported strong first quarter 2016 results
• Net subscriber growth of 8% to nearly 30.1 million
• Revenue climbs 11% to $1.2 billion, a quarterly record
• Net income rises 62% to $171 million
• Adjusted EBITDA(2) grows 11% to $441 million
• Liberty Media’s ownership of SiriusXM stood at 63.8% as of April 26th

Attributed to Liberty Media Group

• Expect to receive approximately $48 million in pre-tax proceeds from Hallmark purchase of Crown Media

Attributed to Liberty Braves Group

• Planned $200 million rights offering (the “Rights Offering”) for BATRK common stock expected to launch on May 19th
• Ballpark and mixed-use development projects continue to be on-time and on-budget

“SiriusXM again posted strong results, setting a record for quarterly revenue and subscriber growth that resulted in an increase to its forecasted 2016 full-year net subscriber additions on its earnings call on April 28th,” stated Greg Maffei, President and CEO of Liberty Media. “At Liberty, we completed the recapitalization into three tracking stocks groups on April 15th. While the tracking stocks have experienced expected early volatility, we anticipate that the rationale for the recapitalization will play out over time.”