Liberty Media Corporation operates as a focused sports and entertainment company following the strategic split-offs of its SiriusXM and Liberty Live tracking stock groups in 2024 and 2025. The company's primary asset is the Formula One Group, which holds the exclusive commercial rights to the FIA Formula One World Championship, a premier global racing series with events across Europe, Asia-Pacific, the Middle East, and the Americas. In 2025, Liberty Media expanded its motorsport portfolio by acquiring MotoGP, the pinnacle of motorcycle racing. The company generates revenue through a diversified model that includes race promotion fees, global broadcasting and media rights, and high-value corporate sponsorships. Additionally, Liberty Media owns Quint, an industry-leading provider of premium ticket and hospitality packages for sports and entertainment events. By eliminating its tracking stock structure and focusing on international expansion and enhanced fan experiences, Liberty Media maintains a dominant competitive position in the global live sports market.