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Liberty Media Corp. CEO Greg Maffei will step down at the end of the year after nearly 20 years of significant dealmaking. Under his leadership, the company acquired and invested in notable businesses such as the Atlanta Braves, DirecTV, SiriusXM, Live Nation Entertainment, and Formula 1. Maffei, 64, was seen as a potential successor to John Malone, the 83-year-old chairman and a pioneer in the cable-TV industry.
Major League Baseball and the Atlanta Braves have expressed serious concerns regarding Diamond Sports Group's reorganization plan, fearing it may lead to future financial distress. They seek more clarity on the restructuring details and Diamond's proposed partnership with Amazon, as well as its direct-to-consumer strategy. Despite these objections, the Braves remain committed to their contract with Diamond, while other teams are exploring alternatives for their local media rights.
UBS has initiated coverage on Liberty Formula One (NASDAQ: FWONK) with a Neutral rating and a target price of €85.00, citing a slowdown in future growth despite recent revenue increases. The bank projects primary revenues and OIBDA to grow at 8% and 12% CAGR from 2024 to 2026, slightly below market expectations. Meanwhile, Rosenblatt Securities adjusted its target price for Liberty Formula One to €91, maintaining a Buy rating, despite the company’s recent earnings miss.
UBS has initiated a Neutral rating on Liberty Formula One (NASDAQ: FWONK) with a price target of $85, citing a slowdown in growth despite recent revenue increases. The firm projects primary F1 revenues and OIBDA to grow at 8% and 12% CAGR from 2024 to 2026, below market expectations. Meanwhile, Rosenblatt Securities adjusted its price target to $91 while maintaining a Buy rating, highlighting strong cash flow and sponsorship opportunities despite a recent earnings miss.
Liberty Media Corporation operates through two tracking stock groups: the Formula One Group and the Liberty Live Group. The Formula One Group includes the global motorsports company Formula One, which holds the commercial rights to the World Championship, and Quint, a provider of official tickets and hospitality for events. The Liberty Live Group encompasses Liberty Media's investment in Live Nation Entertainment Inc., which includes Ticketmaster and Live Nation Concerts.
Liberty Media Corporation operates through two tracking stock groups: the Formula One Group and the Liberty Live Group. The Formula One Group includes the global motorsports company Formula One, which holds the commercial rights to the World Championship, and Quint, a provider of official tickets and hospitality for events. The Liberty Live Group encompasses Liberty Media's investment in Live Nation Entertainment Inc., which includes Ticketmaster and Live Nation Concerts.
Liberty Live Group
Companies
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liberty media ceo greg maffei to step down after two decades
Liberty Live Group
Atlanta Braves Holdings, Inc.
SIRIUSXM HOLDINGS INC
Live Nation Entertainment, Inc.
Formula 1
DirectView Holdings Inc.
USA
Greg Maffei
John Malone
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16:45 13.11.2024
mlb and braves raise concerns over diamond sports reorganization plan
Amazon.com, Inc.
Major League Baseball Group Pension Trust
Liberty Live Group
FanDuel
Atlanta Braves Holdings, Inc.
USA
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23:44 08.11.2024
ubs initiates coverage on liberty formula one with neutral rating and target price
17:58 17.10.2024
ubs initiates neutral rating on liberty formula one with price target increase
17:58 17.10.2024
liberty media's formula one group and live group business overview
17:12 17.10.2024
liberty media's formula one group and live group business overview
17:12 17.10.2024
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