Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) is a tracking stock that provides investors with a dedicated vehicle to participate in the performance of the Formula One Group. Structured as a series of Liberty Media’s broader corporate framework, the Series C stock represents Liberty’s economic interest in the world’s premier open-wheel racing championship. Since acquiring Formula One in a landmark transaction in 2017, Liberty Media has overseen its evolution into a global sports entertainment powerhouse.
The core business activities of the Formula One Series C include the promotion and management of Grand Prix events, negotiation and administration of media and broadcasting rights, and development of digital and direct-to-consumer platforms for racing content. The Formula One Group also drives revenue through sponsorships, licensing agreements, merchandising and hospitality programs that cater to both corporate partners and a worldwide fan base. Investments in enhanced viewing experiences—such as live streaming, advanced analytics and immersive trackside technology—reflect Liberty Media’s commitment to modernizing the sport.
Operating on five continents, the Formula One Series C benefits from a calendar of races spanning Europe, Asia, the Americas, the Middle East and Australia. Long-standing relationships with regional promoters, national motorsport federations and global broadcasters have enabled the group to expand its audience reach and diversify its commercial partnerships. This international footprint is reinforced by strategic marketing initiatives, fan engagement events and digital platforms designed to capture new demographics in established and emerging markets.
Liberty Media’s leadership team oversees the Formula One Series C through a governance structure aligned with the parent company’s media and entertainment expertise. Chairman John C. Malone and President and CEO Gregory B. Maffei spearhead Liberty’s overall strategic direction, while Stefano Domenicali, President and CEO of the Formula One Group, manages day-to-day operations of the racing series. This combination of seasoned media executives and motorsport specialists underpins the group’s efforts to grow the franchise and enhance value for Series C shareholders.
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