Liberty Media Corporation Update Regarding iHeartMedia, Inc. | Financial Buzz

Liberty Media Corporation Update Regarding iHeartMedia, Inc.

Liberty Media Corporation (“Liberty Media”) (NASDAQ: LSXMA, LSXMB,
LSXMK, BATRA, BATRK, FWONA, FWONK) today provided the following update
on the proposed iHeartMedia, Inc. (“iHeart”) equity investment:

Liberty Media withdrew its proposal for iHeart after reviewing results
which were below expectations and negatively impacted our initial
estimates of value. We remain open to future discussions as iHeart
proceeds with its reorganization.

About Liberty Media Corporation

Liberty Media Corporation operates and owns interests in a broad range
of media, communications and entertainment businesses. Those businesses
are attributed to three tracking stock groups: the Liberty SiriusXM
Group, the Braves Group and the Formula One Group. The businesses and
assets attributed to the Liberty SiriusXM Group (Nasdaq: LSXMA, LSXMB,
LSXMK) include Liberty Media Corporation’s interest in SiriusXM. The
businesses and assets attributed to the Braves Group (Nasdaq: BATRA,
BATRK) include Liberty Media Corporation’s subsidiary Braves Holdings,
LLC. The businesses and assets attributed to the Formula One Group
(Nasdaq: FWONA, FWONK) consist of all of Liberty Media Corporation’s
businesses and assets other than those attributed to the Liberty
SiriusXM Group and the Braves Group, including its subsidiary Formula 1,
its interest in Live Nation Entertainment and minority equity investment
in AT&T Inc.

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