FWONA 8-K
Liberty Media Corp (FWONA)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 6, 2024, Chase Carey was appointed to the board of directors (the “Board”) of Liberty Media Corporation (“Liberty Media” or the “Company”), effective January 1, 2025. With Mr. Carey’s appointment, the Board will remain at nine directors, divided among three classes, with Mr. Carey serving as a Class II director with a term expiring at the annual meeting of stockholders in 2027.
Mr. Carey will receive the same compensation as Liberty Media’s other nonemployee directors, which is summarized in Liberty Media’s proxy statement for the annual meeting of stockholders held on June 10, 2024, which was filed with the Securities and Exchange Commission (the “Commission”) on April 25, 2024.
There were no arrangements or understandings between Mr. Carey and any other person pursuant to which Mr. Carey was selected as a member of the Board. Mr. Carey has no direct or indirect material interest in any related party transaction required to be disclosed under Item 404(a) of Regulation S-K.
On December 6, 2024, the Board also appointed Robert R. Bennett to serve as Vice Chairman of the Board, effective January 1, 2025.
Item 7.01. Regulation FD Disclosure.
On December 6, 2024, the Company issued a press release regarding the appointment of Mr. Carey to the Board of Liberty Media.
On December 9, 2024, the Company issued a press release regarding Mr. Bennett’s appointment as Vice Chairman of the Board of Liberty Media.
This Item 7.01 and the press releases attached hereto as Exhibit 99.1 and Exhibit 99.2 are being furnished to the Commission in satisfaction of the public disclosure requirements of Regulation FD and shall not be deemed “filed” for any purpose.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
| Description |
99.1 | ||
99.2 | ||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 9, 2024
LIBERTY MEDIA CORPORATION | ||
By: | /s/ Katherine C. Jewell | |
Name: Katherine C. Jewell | ||
Title: Vice President and Assistant Secretary | ||
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Exhibit 99.1
Liberty Media Appoints Chase Carey to Board of Directors
ENGLEWOOD, CO, December 6, 2024 — Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) today announced the appointment of Chase Carey to the board of directors of Liberty Media (the “Board”) effective January 1, 2025. Mr. Carey most recently served as Chairman of Formula 1 from 2016 to 2022 and as its Chief Executive Officer from 2017 to 2021. He will serve on the Executive Committee of the Liberty Media Board.
“Chase has been an excellent partner to Liberty for many years, from our investment in DIRECTV in 2008 to Liberty’s purchase of Formula 1 in 2017 where his role as CEO was key to securing the acquisition. He was instrumental in building a successful foundation at F1 from which the business has grown materially,” said John Malone, Liberty Media Chairman. “Chase’s knowledge and expertise across media, entertainment, sports, business and more will be valuable to the board as our companies execute on their next chapters of growth and value creation.”
“Liberty is at an exciting point in its storied evolution, with a more focused asset base centered around high-quality, premium sporting assets that I know well. I look forward to contributing to Liberty as a director in partnership with John, Liberty management and the portfolio company leadership teams,” said Mr. Carey.
Prior to joining Formula 1, Mr. Carey served in a number of roles at 21st Century Fox, including as President and Chief Operating Officer from 2009 to 2015 and as a Director since 1996. Mr. Carey served as a Director, and the President and Chief Executive Officer of DIRECTV, Inc. from 2003 to 2009, where he led the operations and strategic direction of the DIRECTV, Inc. companies, including DIRECTV, Inc. in the United States and DIRECTV Latin America.
Mr. Carey is a graduate of Colgate University and Harvard Business School. He is also a Trustee Emeritus at Colgate University.
About Liberty Media Corporation
Liberty Media Corporation operates and owns interests in a broad range of media, communications, sports and entertainment businesses. Those businesses are attributed to two tracking stock groups: the Formula One Group and the Liberty Live Group. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include Liberty Media’s subsidiaries Formula 1 and Quint, and other minority investments. The businesses and assets attributed to the Liberty Live Group (NASDAQ: LLYVA, LLYVK) include Liberty Media’s interest in Live Nation and other minority investments.
Liberty Media Corporation
Shane Kleinstein, 720-875-5432
Source: Liberty Media Corporation
Exhibit 99.2
Liberty Media Names Robert R. Bennett as Vice Chairman of Board of Directors
ENGLEWOOD, CO, December 9, 2024 — Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) today announced that Robert R. (“Dob”) Bennett has been named Vice Chairman of the board of directors of Liberty Media (the “Board”) effective January 1, 2025. Mr. Bennett has been a director of Liberty Media since 1994 and a member of its Executive Committee for 15 years. He will continue to serve on the Executive Committee with John Malone and Chase Carey. Mr. Bennett served as Liberty Media’s President and Chief Executive Officer from 1997 to 2005, prior to which he held other executive roles since joining Liberty Media in 1991.
“Dob has been involved with Liberty since its inception, leading the company as CEO through hallmark corporate transactions including our spin-offs of Liberty Global and Discovery and acting as a trusted advisor on our board since 1994. We benefit from his extensive knowledge of the media, entertainment and telecom industries and deep familiarity with Liberty’s corporate history. I look forward to his continued partnership as Vice Chairman as he supports our current and future Liberty management and portfolio companies,” said John Malone, Liberty Media Chairman.
“It has been an honor to work alongside John and the Liberty management team all these years through the many iterations of Liberty’s corporate structure. I am excited to work more closely with Liberty and portfolio company leadership during this next chapter of the company’s continuous evolution with the consistent objective of driving long-term value for shareholders,” said Mr. Bennett.
Currently, Mr. Bennett is the Managing Director of Hilltop Investments, LLC, a private investment company. Prior to joining Liberty Media, he worked at Tele-Communications, Inc. and The Bank of New York. Mr. Bennett serves as a director for HP, Inc and Flutter Entertainment plc. Previously, he served as a director of Warner Bros. Discovery, Inc., Sprint Corporation, Demand Media, Inc., Discovery Holding Company and Liberty Interactive Corporation.
About Liberty Media Corporation
Liberty Media Corporation operates and owns interests in a broad range of media, communications, sports and entertainment businesses. Those businesses are attributed to two tracking stock groups: the Formula One Group and the Liberty Live Group. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include Liberty Media’s subsidiaries Formula 1 and Quint, and other minority investments. The businesses and assets attributed to the Liberty Live Group (NASDAQ: LLYVA, LLYVK) include Liberty Media’s interest in Live Nation and other minority investments.
Liberty Media Corporation
Shane Kleinstein, 720-875-5432
Source: Liberty Media Corporation