FWONA Stock Recent News

Formula One (F1) owner Liberty Media (FWONK) is expanding its reach into motorsports by purchasing Dorna Sports, the owner of the rights to the MotoGP World Championship.

Formula One's U.S.-based owner Liberty Media is expected to announce a takeover of MotoGP's parent company within days and for more than 4 billion euros ($4.32 billion), Sky News reported on Sunday.

Formula One Group (FWONK) stock is nearing its all-time high as the new season starts in Bahrain this week. It jumped by over 4% on Thursday as it closed at $72.76, the highest point since August 27th.

Here is how Liberty Media Corporation - Liberty Formula One Series A (FWONA) and AMMO, Inc. (POWW) have performed compared to their sector so far this year.

Reiterating a buy rating for FWONK based on a positive outlook for adjusted OIBDA growth driven by top line growth and operating leverage. 3Q23 Adjusted OIBDA beat expectations, driven by healthy performance in main revenue drivers. I expect the Vegas Grand Prix to generate strong revenue and create new revenue streams, but higher year-one operating expenses have impacted valuation.

A more predictable balance sheet makes it easier to bring new sponsors on board.

Apple is reportedly considering an offer for $2 billion per season media rights deal with Formula One. The possibility of Andretti Autosport joining the series could increase fan interest and make Formula One more appealing to sponsors and media partners. Formula One Group reported strong financial performance in Q2 and Q3.

Liberty Media chairman and "cable cowboy" John Malone weighed in on the state of streaming in an interview with CNBC's David Faber.

Liberty Media CEO Greg Maffei joins 'Squawk on the Street' to discuss the company's investor day, the company's ownership stake in Formula 1, Atlanta Braves, media acquisitions, TV rights, and more.

Formula One Group (NASDAQ:FWONA ) Q3 2023 Earnings Conference Call November 3, 2023 10:00 AM ET Company Participants Shane Kleinstein - VP-IR Greg Maffei - President and CEO-Liberty Media Corporation Stefano Domenicali - President and CEO Brian Wendling - Chief Accounting and Principal Financial Officer, Liberty Media Corporation Renee Wilm - Chief Legal Officer and Chief Administrative Officer Derek Schiller - President and CEO, Atlanta Braves Conference Call Participants David Karnovsky - JPMorgan Ben Swinburne - Morgan Stanley Bryan Kraft - Deutsche Bank Vijay Jayant - Evercore Stephen Laszczyk - Goldman Sachs Stephen Glagola - TD Cowen David Joyce - Seaport Research Partners Jason Bazinet - Citi Barton Crockett - Rosenblatt Securities Operator Welcome to the Liberty Media Corporation's 2023 Q3 Earnings Call. [Operator Instructions] Afterwards, we will conduct a question-and-answer session.