How Liberty Media became one of the world's most valuable sports empires [CNBC]
Liberty Media Corporation - Series A Liberty Braves (BATRA)
US:NASDAQ Investor Relations:
ir.libertymedia.com/stock-information
Company Research
Source: CNBC
With some teams on the brink of financial collapse, Liberty took an ax to F1's structure. Liberty set about investing heavily in the U.S. as the pandemic eased, adding the Miami Grand Prix to the 2022 calendar. When Liberty Media Chairman John Malone finalized the $4.4 billion acquisition of Formula One in 2017, he knew he was onto something. “There's an opportunity to take F1 to another level,” he told reporters in 2016. “There's an untapped digital market [that] F1 has only scratched the surface on.” What no-one could have foreseen was how soon F1's opportunity would present itself. As global lockdowns began in 2020, sports fans surged online and Liberty Media had a chance to realize Malone's vision. For it to work however, Liberty first had to get a handle on the sport's finances. “If you have a look before Covid in 2019 it was a tough situation, close to bankruptcy,” said Fred Vasseur, team principal of Scuderia Ferrari HP, one of three teams spending more than $400 m
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BATRA
Earnings
- 8/8/24 - Beat
BATRA
Sec Filings
- 11/4/24 - Form SC
- 10/22/24 - Form 8-K
- 10/15/24 - Form 4
- BATRA's page on the SEC website