Meanwhile, the Formula One Group suffered a steep drop in revenue and expects live TV races to resume in July without fans in the stands.
Liberty Media, the company controlled by billionaire mogul John Malone that houses assets like audio entertainment giant SiriusXM, the Atlanta Braves baseball club and the Formula One racing circuit, on Thursday (May 7) reported stable first-quarter overall revenues, but a steep 84% revenue loss from its Formula One race car division.
Liberty Media posted earnings of $293 million, up from a year-earlier profit of $162 million, on overall revenues at $2.013 billion, virtually unchanged from a year-earlier $2.012 billion.
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