Liberty Media Corporation is one of the largest mass media companies in the world and it is also referred to as either Liberty Media or simply Liberty. This company is currently controlled by chairman John O. Malone and he has the majority of the voting shares. While this is a well-known corporation, there are many things that people do not know about this company. Here are ten things that you didn’t know about Liberty Media Corporation.
1. It was Founded in 1991
Liberty Media Corporation was founded in 1991 as a spin-off of the American cable-television group TCI. John O. Malone hired Peter Barton to become the president of the company and Barton held this position until he decided to retire in 1997 to spend time with his family. Initially, Liberty Media took over the assets of TCI that were considered to have very little value. However, Barton transformed the company to make it a success by making a deal every ten days for six years.
2. They Have a Stake in Barnes & Noble Bookstores
This company has stakes in many different forms of media companies, including publishing. Liberty Media Corporation announced in May 2011 that they were in talks to buy the bookstore chain Barnes & Noble for a staggering $1.02 billion. Although they eventually did not acquire the company, they did spend $204 million on a 16% stake of preferred stock. Barnes & Noble was founded in 1873 and is now the bookseller with the most retail stores in the United States as it has 633 stores in various locations. Their headquarters are located in New York City.
3. They Acquired the Formula One Group in 2017
In January 2017, Liberty Media made one of the biggest moves in the relations between sports and media by securing a deal to buy the Formula One Group. This is a collection of companies that are responsible for promoting the FIA Formula One World Championship and for the commercial rights of the sport. This deal cost Liberty $4.6 billion. Liberty also owns various stakes in companies that fall into the Formula One Group. These include Associated Partners, L.P., Drone Racing League, Ideiasnet, NRIX, Kroenke Arena Company, Live Nation Entertainment Inc., Saavn, and Tastemade.
4. They Own the Atlanta Braves Franchise
The Formula One Group is not liberty’s only interest in sports management as they also own the Atlanta Braves Franchise. Atlanta Braves is a professional baseball franchise based in Atlanta. This baseball team competes in the MLB and is a member of the NL.
5. They Invest in Telecommunications
In addition to their own interests, Liberty Media Corporation is a major investor and is particularly interested in investing in media and telecommunications companies. They currently hold stock in some of the world’s biggest telecommunications companies.
6. They Created the Spin-Off Starz Inc.
STARZ! Was one of Liberty’s original satellite television networks when the company was founded and they merged this network with Encore in 1998. In January 2015, Liberty decided to create Starz Inc. as a spin-off company with STARZ! As its flagship channel. Starz Inc. was acquired by Lionsgate in December 2016.
7. They Own the Majority Share of Liberty SiriusXM Group
Although much of the focus at Liberty Media Corporation is on television, they also own the majority share of the Liberty SiriusXM Group, which is a group of three satellite radio and online radio services in the United States.
8. Their Headquarters Are in Colorado
Liberty Media Corporation is an international company that provides media services worldwide. However, they are based in the United States. Their headquarters are located in Douglas County, Colorado.
9. Greg Maffei is the President and CEO
The current president and CEO of Liberty Media Corporation is Greg Maffei. He joined the company in 2005. In addition to holding the posts of president and CEO of Liberty Media Corporation, he is also the chairman of Sinus XM, TripAdvisor, and Live Nation Entertainment. Furthermore, he is also the chairman emeritus of Expedia and Starz. His past roles have included working as the chief financial officer for Microsoft and Oracle.
10. Their 2015 Revenue Was $4.795 Billion
Liberty Media Corporation has a huge turnover each year. In 2015, their revenue was an estimated $4.795 billion. This consisted of an operating income of $950 million, a net income of $64 million, total assets of $29.798 billion, and total equity of $10.933 billion.