Formula One Group (NASDAQ:FWONK) Q3 2024 Earnings Conference Call November 7, 2024 10:00 AM ET

Company Participants

Shane Kleinstein - SVP of IR
Greg Maffei - President and CEO
Stefano Domenicali - President & CEO, Formula One
Brian Wendling - Chief Accounting & Principal Financial Officer, Liberty Media Corporation
Renee Wilm - Chief Legal Officer & Chief Administrative Officer

Conference Call Participants

David Karnovsky - JP Morgan
Kutgun Maral - Evercore ISI
Stephen Laszczyk - Goldman Sachs
Ben Swinburne - Morgan Stanley
Ryan Cardiff - UBS
Bryan Kraft - Deutsche Bank
David Joyce - Seaport Research Partners
Barton Crockett - Rosenblatt Securities
Jonathan Navarrete - TD Cowen

Operator

Welcome to Liberty Media Corporation's 2024 Third Quarter Earnings Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference will be recorded November 7th.

I would now like to turn the call over to Shane Kleinstein, Senior Vice President of Investor Relations. Please go ahead.

Shane Kleinstein

Thank you, and good morning. Before we begin, we'd like to remind everyone that this call includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in the most recent Forms 10-K and 10-Q filed by Liberty Media with the SEC.

These forward-looking statements speak only as of the date of this call, and Liberty Media expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Media's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.

On today's call, we will discuss non-GAAP financial measures for Liberty Media, including adjusted OIBDA. The required definition and reconciliation for Liberty Media, Schedule 1, can be found at the end of the earnings press release issued today, which is available on our website.

Now I'd like to turn the call over to Greg Maffei, Liberty's President and CEO.

Greg Maffei

Thank you. Good morning. Today speaking in the call, we will also have Formula One's President and CEO, Stefano Domenicali, and Liberty's Chief Accounting and Principal Financial Officer, Brian Wendling. So let me start with a couple of corporate updates.

As you may recall, we completed the LSXM-Siri merger on the 9th of September. I look forward to remaining involved as Board Chair and a shareholder at Siri, but Liberty's ties are cut. We also announced updates to our voting and governance at the Atlanta Braves Holdings, and we are transitioning services directly to the Atlanta team. They held their earnings call yesterday. This is the next step in their evolution as a standalone private company, and I want to thank all the Braves management team for their partnership over the years. It's been so fruitful.