Liberty Media, the company controlled by billionaire mogul and chairman John Malone that houses such assets as satellite radio company SiriusXM Radio, the Atlanta Braves baseball club and the Formula One racing circuit, on Thursday reported its third-quarter financials.
Earnings came in at $168 million, up from $115 million in the year-ago period. Satellite radio giant SiriusXM Group posted earnings of $183 million, and the Liberty group housing the Atlanta Braves baseball team recorded earnings of $22 million, but the Formula One racing circuit posted a $37 million loss.
SiriusXM also recorded an 11 percent gain in operating profit, while the company’s Liberty Braves Group swung to an operating loss of $9 million from a year-ago profit of $1 million. Formula One, which the company didn’t own in the year-ago period, posted a slightly wider operating loss of $17 million, compared with a year-ago loss of $16 million.
Liberty Media’s third-quarter revenue rose to $2.07 billion from $1.39 billion, driven by gains at SiriusXM and the Braves and the addition of Formula One revenue.
Liberty Media president and CEO Greg Maffei will speak to analysts on an earnings call later on Thursday.
This article was originally published by The Hollywood Reporter.