Market Overview

Liberty Media Launches Process to Increase Formula 1 Term Loan and Revolver Capacity


Liberty Media Corporation ("Liberty") (Nasdaq: LSXMA, LSXMB, LSXMK,
BATRA, BATRK, FWONA, FWONK) announced today that it intends to launch a
process to syndicate an up to $200 million add-on to the $3,102 million
USD term loan under the syndicated first lien facilities agreement
executed by certain subsidiaries of Delta Topco Limited, the Liberty
subsidiary which holds all of its interests in Formula 1. In addition,
Liberty intends to seek amendments to the first lien facilities
agreement to, among other things, increase the revolving facility
capacity to up to $500 million. The term loan and revolving facility
will remain non-recourse to Liberty. Liberty intends to cause the Delta
Topco subsidiaries to use the proceeds of the term loan add-on together
with cash on hand to repay the balance of the $300 million second lien
facility to which the subsidiaries of Delta Topco are party. Delta Topco
and its subsidiaries, together with the debt described herein, are
attributed to the Formula One Group.

Forward-Looking Statements

This press release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to the proposed amendments to the first
lien facilities agreement, the repayment of $300 million of the term
loan under the second lien facilities agreement and other matters that
are not historical facts. These forward-looking statements involve many
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements,
including, without limitation, general market conditions. These
forward-looking statements speak only as of the date of this press
release, and Liberty 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's expectations with
regard thereto or any change in events, conditions or circumstances on
which any such statement is based. Please refer to the publicly filed
documents of Liberty, including its most recent Annual Report on Form
10-K and Quarterly Reports on Form 10-Q, for risks and uncertainties
related to Liberty's business which may affect the statements made in
this press release.

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's interest in SiriusXM. The businesses and
assets attributed to the Braves Group (NASDAQ:BATRA, BATRK)) include
Liberty Media's subsidiary Braves Holdings, LLC. The businesses and
assets attributed to the Formula One Group (NASDAQ:FWONA, FWONK))
consist of all of Liberty Media's businesses and assets other than those
attributed to the Liberty SiriusXM Group and the Braves Group, including
Formula 1, Liberty Media's interest in Live Nation Entertainment, and
minority equity investments in Time Warner Inc. and Viacom.

About Formula 1

Formula 1®, which began in 1950, is the world's most prestigious motor
racing competition and is the world's most popular annual sporting
series. In 2016 it was watched by 400 million unique television viewers
from over 200 territories. The 2017 FIA Formula One World Championship™
runs from March to November and spans 20 races in 20 countries across
five continents. Formula One World Championship Limited is part of
Formula 1, and holds the exclusive commercial rights to the FIA Formula
One World Championship™.

Formula 1 is a subsidiary of Liberty Media Corporation (Nasdaq: LSXMA,
LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One
Group tracking stock.

For more information on Formula 1® visit

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