»¨ΆΌΣ°ΚΣ

Definitive proxy statements

Pay vs Performance Disclosure

v3.26.1
Pay vs Performance Disclosure - USD ($)
 1 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2025
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure, Table Μύ Μύ
PAY VERSUS PERFORMANCE
This section provides information about the relationship between compensation actually paid to our Principal Executive Officer and other named executive officers and certain financial performance measures of our company. For purposes of this section, the amount of compensation actually paid to our Principal Executive Officer and other named executive officers is determined using the valuation methods prescribed by the SEC in ItemΜύ402(v) of RegulationΜύS-K. Although the rules describe such amount as compensation actually paid, these amounts are not reflective of the taxable compensation actually paid to our named executive officers in a covered year. As described in more detail below, to determine the amount of compensation actually paid in a covered year, ItemΜύ402(v) of RegulationΜύS-K requires that in each covered year we (1)Μύdeduct the grant date value of equity awards reported in the Stock Awards or Option Awards columns in the Summary Compensation Table from the Total column in the Summary Compensation Table; (2)Μύadd, for awards granted in the covered year, the fair value of the equity awards (i)Μύas of the end of a covered year or (ii)Μύas of the vesting date, as applicable; and (3)Μύfor awards granted in, and outstanding at the end of, a prior year (i)Μύadd or subtract, (a)Μύthe change in the fair value from the end of the prior year to the end of the current year or (b)Μύfrom the end of the prior year to the date the awards vest, as applicable, or (ii)Μύsubtract the value at the end of the prior year of awards forfeited in the current year.
​ ​ ​ ​
Current PEO(1)
​ ​
Former PEO(1)
​ ​
Non-PEO NEOs(1)
​ ​
Value of initial fixed $100
investment based on:
​ ​
(millions)
​
​
Year
​ ​
Summary
Compensation
Table Total
for Current
PEO ($)(2)
​ ​
Compensation
Actually
Paid to
Current
PEO ($)(3)
​ ​
Summary
Compensation
Table Total
for Former
PEO ($)(2)
​ ​
Compensation
Actually
Paid to
Former
PEO ($)(3)
​ ​
Average
Summary
Compensation
Table Total
for non-PEO
NEOs ($)(2)
​ ​
Average
Compensation
Actually
Paid to
non-PEO
NEOs ($)(3)
​ ​
Total
Shareholder
Return (β€œTSR”) ($)(4)
​ ​
Peer Group
TSR ($)(5)
​ ​
Net
Income
($)(6)
​ ​
Adjusted
OIBDA
($)(7)
​
​ 2025 ​ ​ ​ ​ 39,339,990 ​ ​ ​ ​ ​ 32,498,102 ​ ​ ​ ​ ​ 1,364,063 ​ ​ ​ ​ ​ 1,364,063 ​ ​ ​ ​ ​ 6,114,535 ​ ​ ​ ​ ​ 5,625,333 ​ ​ ​ ​ ​ FWONA ​ ​ ​ ​ ​ 245.50 ​ ​ ​ ​ ​ 227.74 ​ ​ ​ ​ ​ 555 ​ ​ ​ ​ ​ 1,068 ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FWONK ​ ​ ​ ​ ​ 239.29 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LLYVA ​ ​ ​ ​ ​ 232.21 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LLYVK ​ ​ ​ ​ ​ 225.90 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ 2024 ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 24,291,922 ​ ​ ​ ​ ​ 43,550,114 ​ ​ ​ ​ ​ 2,425,443 ​ ​ ​ ​ ​ 3,749,394 ​ ​ ​ ​ ​ FWONA ​ ​ ​ ​ ​ 230.83 ​ ​ ​ ​ ​ 167.25 ​ ​ ​ ​ ​ (2,475) ​ ​ ​ ​ ​ 1,517 ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FWONK ​ ​ ​ ​ ​ 225.08 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMA ​ ​ ​ ​ ​ 70.25 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMB ​ ​ ​ ​ ​ 52.00 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMK ​ ​ ​ ​ ​ 66.16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LLYVA ​ ​ ​ ​ ​ 186.29 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LLYVK ​ ​ ​ ​ ​ 180.63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ 2023 ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 28,655,193 ​ ​ ​ ​ ​ 34,310,721 ​ ​ ​ ​ ​ 4,104,109 ​ ​ ​ ​ ​ 4,166,004 ​ ​ ​ ​ ​ FWONA ​ ​ ​ ​ ​ 159.25 ​ ​ ​ ​ ​ 118.24 ​ ​ ​ ​ ​ 962 ​ ​ ​ ​ ​ 4,086 ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FWONK ​ ​ ​ ​ ​ 153.35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMA ​ ​ ​ ​ ​ 90.58 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMB ​ ​ ​ ​ ​ 66.48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMK ​ ​ ​ ​ ​ 85.42 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LLYVA ​ ​ ​ ​ ​ 102.29 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LLYVK ​ ​ ​ ​ ​ 99.23 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BATRA ​ ​ ​ ​ ​ 174.39 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BATRK ​ ​ ​ ​ ​ 168.77 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ 2022 ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 22,363,007 ​ ​ ​ ​ ​ 7,979,878 ​ ​ ​ ​ ​ 1,935,773 ​ ​ ​ ​ ​ 1,489,203 ​ ​ ​ ​ ​ FWONA ​ ​ ​ ​ ​ 140.64 ​ ​ ​ ​ ​ 71.20 ​ ​ ​ ​ ​ 2,029 ​ ​ ​ ​ ​ 3,941 ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FWONK ​ ​ ​ ​ ​ 140.33 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMA ​ ​ ​ ​ ​ 91.02 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMB ​ ​ ​ ​ ​ 90.16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMK ​ ​ ​ ​ ​ 89.93 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BATRA ​ ​ ​ ​ ​ 131.36 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BATRK ​ ​ ​ ​ ​ 129.54 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ 2021 ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 21,575,769 ​ ​ ​ ​ ​ 48,418,806 ​ ​ ​ ​ ​ 1,773,064 ​ ​ ​ ​ ​ 2,770,504 ​ ​ ​ ​ ​ FWONA ​ ​ ​ ​ ​ 156.20 ​ ​ ​ ​ ​ 126.94 ​ ​ ​ ​ ​ 744 ​ ​ ​ ​ ​ 3,481 ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FWONK ​ ​ ​ ​ ​ 148.45 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMA ​ ​ ​ ​ ​ 117.74 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMB ​ ​ ​ ​ ​ 118.25 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LSXMK ​ ​ ​ ​ ​ 116.87 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BATRA ​ ​ ​ ​ ​ 115.60 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BATRK ​ ​ ​ ​ ​ 112.94 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Gregory Maffei was our Principal Executive Officer (PEO) from 2021 through 2024 and is listed in the β€œFormer PEO” column for suchΜύyears. In 2025, Mr.ΜύMalone served as our interim PEO until Mr.ΜύChang was appointed as our PEO effective FebruaryΜύ1, 2025. For 2025, Mr.ΜύMalone and Mr.ΜύChang are listed in the β€œFormer PEO” and β€œCurrent PEO” columns, respectively. Our named executive officers other than our PEO (non-PEO NEOs) for (a)Μύeach of the fiscalΜύyears 2021, 2022 and 2023 were Messrs. Malone, Wendling and Albert Rosenthaler (our company’s former Chief Corporate Development Officer) and Ms.ΜύWilm, (b)Μύfiscal year 2024 were Messrs. Malone and Wendling and Ms.ΜύWilm and (c)Μύfiscal year 2025 were Mr.ΜύWendling and Ms.ΜύWilm.
​
(2)
Reflects, for Messrs. Chang, Malone and Maffei, the total compensation reported in the Summary Compensation Table and for the non-PEO NEOs, the average total compensation reported in the Summary Compensation Table in each of the fiscalΜύyears indicated.
​
(3)
Represents the compensation actually paid to Messrs. Chang, Malone and Maffei and the non-PEO NEOs in each of the fiscalΜύyears indicated as computed in accordance with ItemΜύ402(v) of RegulationΜύS-K and related SEC guidance, as set forth below:
​
Compensation actually paid to PEO and Non-PEO NEOs
​
​ ​ ​ ​
As Reported in Summary
Compensation Table(a)
​ ​
Equity Award Adjustments(b)
​ ​ ​ ​ ​ ​ ​
​
Year
​ ​
Total
​ ​
Stock
Awards
​ ​
Option
Awards
​ ​
Fair Value at
Year End of
Awards
Granted
During Year
that Remain
Outstanding
and
Unvested at
Year End(c)
​ ​
Year-over-
Year Change
in Fair
Value of
Awards
Granted in
Prior Year
that Remain
Outstanding
and
Unvested at
Year End(d)
​ ​
Fair Value at
Vesting Date
of Awards
Granted and
Vested in
Same Year(e)
​ ​
Change in
Fair Value
from Prior
Year End to
Vesting Date
of Awards
Granted in
Prior Year
and Vested
in Covered
Year(f)
​ ​
Fair Value at
End of Prior
Year of
Awards
Granted in
Prior Year that
Failed to Vest
in Covered
Year(g)
​ ​
Total
Compensation
Actually Paid
​
​
PEO
​
​
2025
​ ​ ​ ​ 39,339,990 ​ ​ ​ ​ ​ (21,503,190) ​ ​ ​ ​ ​ (14,353,669) ​ ​ ​ ​ ​ 29,167,625 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (152,654) ​ ​ ​ ​ ​ 32,498,102 ​ ​
​
Former PEO
​
​
2025
​ ​ ​ ​ 1,364,063 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 1,364,063 ​ ​
​
2024
​ ​ ​ ​ 24,291,922 ​ ​ ​ ​ ​ (8,731,320) ​ ​ ​ ​ ​ (1,126,049) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 12,731,550 ​ ​ ​ ​ ​ 16,384,011 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 43,550,114 ​ ​
​
2023
​ ​ ​ ​ 28,655,193 ​ ​ ​ ​ ​ (7,131,983) ​ ​ ​ ​ ​ (3,822,432) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (458,726) ​ ​ ​ ​ ​ 12,272,955 ​ ​ ​ ​ ​ 4,795,713 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 34,310,721 ​ ​
​
2022
​ ​ ​ ​ 22,363,007 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (7,800,250) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (14,301,548) ​ ​ ​ ​ ​ 7,718,670 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 7,979,878 ​ ​
​
2021
​ ​ ​ ​ 21,575,769 ​ ​ ​ ​ ​ (3,954,951) ​ ​ ​ ​ ​ (3,521,474) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 25,523,112 ​ ​ ​ ​ ​ 8,796,350 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 48,418,806 ​ ​
​
Non-PEO NEOs
​
​
2025
​ ​ ​ ​ 6,114,535 ​ ​ ​ ​ ​ (2,684,015) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 740,450 ​ ​ ​ ​ ​ 35,984 ​ ​ ​ ​ ​ 1,326,683 ​ ​ ​ ​ ​ 91,696 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 5,625,333 ​ ​
​
2024
​ ​ ​ ​ 2,425,443 ​ ​ ​ ​ ​ (598,222) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 819,086 ​ ​ ​ ​ ​ 727,827 ​ ​ ​ ​ ​ 375,259 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 3,749,394 ​ ​
​
2023
​ ​ ​ ​ 4,104,109 ​ ​ ​ ​ ​ (1,772,621) ​ ​ ​ ​ ​ (603,174) ​ ​ ​ ​ ​ 1,773,120 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 605,132 ​ ​ ​ ​ ​ 59,439 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 4,166,004 ​ ​
​
2022
​ ​ ​ ​ 1,935,773 ​ ​ ​ ​ ​ (395,466) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (236,242) ​ ​ ​ ​ ​ 396,740 ​ ​ ​ ​ ​ (211,602) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 1,489,203 ​ ​
​
2021
​ ​ ​ ​ 1,773,064 ​ ​ ​ ​ ​ (388,774) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 919,194 ​ ​ ​ ​ ​ 467,020 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 2,770,504 ​ ​
​
(a)
Reflects, for Messrs. Chang, Malone and Maffei, the applicable amounts reported in the Summary Compensation Table and for the non-PEO NEOs, the average of the applicable amounts reported in the Summary Compensation Table in each of the fiscalΜύyears indicated.
​
(b)
No equity award adjustments are made for Mr.ΜύMalone as he did not hold any equity awards in 2021, 2022, 2023, 2024 or 2025.
(c)
Reflects, with respect to Messrs. Chang and Maffei, the fair value and, with respect to the non-PEO NEOs, the average of the fair values, as of the end of the covered fiscal year of awards granted in, and remaining outstanding and unvested (in whole or in part) as of the end of, the covered fiscal year.
​
(d)
Reflects, with respect to Messrs. Chang and Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the end of the covered fiscal year of awards granted in prior fiscalΜύyears that remained outstanding and unvested (in whole or in part) as of the end of the covered fiscal year.
​
(e)
Reflects, with respect to Messrs. Chang and Maffei, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, as of the day awards became vested in the covered fiscal year, when such awards were also granted in the covered fiscal year.
​
(f)
Reflects, with respect to Messrs. Chang and Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the day awards became vested in the covered fiscal year, when such awards were granted in a prior fiscal year.
​
(g)
Reflects, with respect to Mr.ΜύChang, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, at the end of the prior fiscal year of awards granted in a prior fiscal year that were forfeited in the covered fiscal year.
(4)
Represents the cumulative total stockholder return on an initial fixed $100 investment:
(a)
for each covered fiscal year, in each of our SeriesΜύA and SeriesΜύC »¨ΆΌΣ°ΚΣ Formula One common stock (Nasdaq: FWONA, FWONK) from DecemberΜύ31, 2020 through DecemberΜύ31 of each covered fiscal year;
​
(b)
for 2020, 2021, 2022 and 2023, in each of our SeriesΜύA, SeriesΜύB and SeriesΜύC »¨ΆΌΣ°ΚΣ SiriusXM common stock (Nasdaq: LSXMA, LSXMB, LSXMK) from DecemberΜύ31, 2020 through DecemberΜύ31 of each of 2021, 2022 and 2023 and SeptemberΜύ9, 2024 (the date our company completed the split-off of our former »¨ΆΌΣ°ΚΣ Sirius XM Group);
(c)
for 2021, 2022 and 2023, in each of our former SeriesΜύA and SeriesΜύC »¨ΆΌΣ°ΚΣ Braves common stock (Nasdaq: BATRA, BATRK) from DecemberΜύ31, 2020 through DecemberΜύ31 of each of 2021 and 2022 and JulyΜύ18, 2023 (the date our company completed the split-off of Atlanta Braves Holdings); and
(d)
for 2023, 2024 and 2025, in each of LLYVA and LLYVK from AugustΜύ4, 2023 through DecemberΜύ31 of each of 2023 and 2024 and DecemberΜύ15, 2025 (the date of the Split-Off).
(5)
For each covered fiscal year, represents the cumulative total stockholder return on an initial fixed $100 investment in the S&P 500 Media and Entertainment Index from DecemberΜύ31, 2020 through DecemberΜύ31 of each covered fiscal year.
​
(6)
Represents the amount of net income reflected in our consolidated financial statements for each covered fiscal year.
​
(7)
We define Adjusted OIBDA as operating income (loss) plus depreciation and amortization, stock-based compensation, separately reported litigation settlements, transaction related costs (including acquisition, restructuring, integration, and advisory fees), and impairment charges. For purposes of this disclosure, Adjusted OIBDA includes our attributable interests in our equity investments.
Μύ Μύ Μύ Μύ
Company Selected Measure Name Μύ Μύ Adjusted OIBDA Μύ Μύ Μύ Μύ
Named Executive Officers, Footnote Μύ Μύ
(1)
Gregory Maffei was our Principal Executive Officer (PEO) from 2021 through 2024 and is listed in the β€œFormer PEO” column for suchΜύyears. In 2025, Mr.ΜύMalone served as our interim PEO until Mr.ΜύChang was appointed as our PEO effective FebruaryΜύ1, 2025. For 2025, Mr.ΜύMalone and Mr.ΜύChang are listed in the β€œFormer PEO” and β€œCurrent PEO” columns, respectively. Our named executive officers other than our PEO (non-PEO NEOs) for (a)Μύeach of the fiscalΜύyears 2021, 2022 and 2023 were Messrs. Malone, Wendling and Albert Rosenthaler (our company’s former Chief Corporate Development Officer) and Ms.ΜύWilm, (b)Μύfiscal year 2024 were Messrs. Malone and Wendling and Ms.ΜύWilm and (c)Μύfiscal year 2025 were Mr.ΜύWendling and Ms.ΜύWilm.
​
(2)
Reflects, for Messrs. Chang, Malone and Maffei, the total compensation reported in the Summary Compensation Table and for the non-PEO NEOs, the average total compensation reported in the Summary Compensation Table in each of the fiscalΜύyears indicated.
Μύ Μύ Μύ Μύ
Peer Group Issuers, Footnote Μύ Μύ
(5)
For each covered fiscal year, represents the cumulative total stockholder return on an initial fixed $100 investment in the S&P 500 Media and Entertainment Index from DecemberΜύ31, 2020 through DecemberΜύ31 of each covered fiscal year.
Μύ Μύ Μύ Μύ
Adjustment To PEO Compensation, Footnote Μύ Μύ
(3)
Represents the compensation actually paid to Messrs. Chang, Malone and Maffei and the non-PEO NEOs in each of the fiscalΜύyears indicated as computed in accordance with ItemΜύ402(v) of RegulationΜύS-K and related SEC guidance, as set forth below:
​
Compensation actually paid to PEO and Non-PEO NEOs
​
​ ​ ​ ​
As Reported in Summary
Compensation Table(a)
​ ​
Equity Award Adjustments(b)
​ ​ ​ ​ ​ ​ ​
​
Year
​ ​
Total
​ ​
Stock
Awards
​ ​
Option
Awards
​ ​
Fair Value at
Year End of
Awards
Granted
During Year
that Remain
Outstanding
and
Unvested at
Year End(c)
​ ​
Year-over-
Year Change
in Fair
Value of
Awards
Granted in
Prior Year
that Remain
Outstanding
and
Unvested at
Year End(d)
​ ​
Fair Value at
Vesting Date
of Awards
Granted and
Vested in
Same Year(e)
​ ​
Change in
Fair Value
from Prior
Year End to
Vesting Date
of Awards
Granted in
Prior Year
and Vested
in Covered
Year(f)
​ ​
Fair Value at
End of Prior
Year of
Awards
Granted in
Prior Year that
Failed to Vest
in Covered
Year(g)
​ ​
Total
Compensation
Actually Paid
​
​
PEO
​
​
2025
​ ​ ​ ​ 39,339,990 ​ ​ ​ ​ ​ (21,503,190) ​ ​ ​ ​ ​ (14,353,669) ​ ​ ​ ​ ​ 29,167,625 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (152,654) ​ ​ ​ ​ ​ 32,498,102 ​ ​
​
Former PEO
​
​
2025
​ ​ ​ ​ 1,364,063 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 1,364,063 ​ ​
​
2024
​ ​ ​ ​ 24,291,922 ​ ​ ​ ​ ​ (8,731,320) ​ ​ ​ ​ ​ (1,126,049) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 12,731,550 ​ ​ ​ ​ ​ 16,384,011 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 43,550,114 ​ ​
​
2023
​ ​ ​ ​ 28,655,193 ​ ​ ​ ​ ​ (7,131,983) ​ ​ ​ ​ ​ (3,822,432) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (458,726) ​ ​ ​ ​ ​ 12,272,955 ​ ​ ​ ​ ​ 4,795,713 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 34,310,721 ​ ​
​
2022
​ ​ ​ ​ 22,363,007 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (7,800,250) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (14,301,548) ​ ​ ​ ​ ​ 7,718,670 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 7,979,878 ​ ​
​
2021
​ ​ ​ ​ 21,575,769 ​ ​ ​ ​ ​ (3,954,951) ​ ​ ​ ​ ​ (3,521,474) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 25,523,112 ​ ​ ​ ​ ​ 8,796,350 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 48,418,806 ​ ​
​
Non-PEO NEOs
​
​
2025
​ ​ ​ ​ 6,114,535 ​ ​ ​ ​ ​ (2,684,015) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 740,450 ​ ​ ​ ​ ​ 35,984 ​ ​ ​ ​ ​ 1,326,683 ​ ​ ​ ​ ​ 91,696 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 5,625,333 ​ ​
​
2024
​ ​ ​ ​ 2,425,443 ​ ​ ​ ​ ​ (598,222) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 819,086 ​ ​ ​ ​ ​ 727,827 ​ ​ ​ ​ ​ 375,259 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 3,749,394 ​ ​
​
2023
​ ​ ​ ​ 4,104,109 ​ ​ ​ ​ ​ (1,772,621) ​ ​ ​ ​ ​ (603,174) ​ ​ ​ ​ ​ 1,773,120 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 605,132 ​ ​ ​ ​ ​ 59,439 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 4,166,004 ​ ​
​
2022
​ ​ ​ ​ 1,935,773 ​ ​ ​ ​ ​ (395,466) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (236,242) ​ ​ ​ ​ ​ 396,740 ​ ​ ​ ​ ​ (211,602) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 1,489,203 ​ ​
​
2021
​ ​ ​ ​ 1,773,064 ​ ​ ​ ​ ​ (388,774) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 919,194 ​ ​ ​ ​ ​ 467,020 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 2,770,504 ​ ​
​
(a)
Reflects, for Messrs. Chang, Malone and Maffei, the applicable amounts reported in the Summary Compensation Table and for the non-PEO NEOs, the average of the applicable amounts reported in the Summary Compensation Table in each of the fiscalΜύyears indicated.
​
(b)
No equity award adjustments are made for Mr.ΜύMalone as he did not hold any equity awards in 2021, 2022, 2023, 2024 or 2025.
(c)
Reflects, with respect to Messrs. Chang and Maffei, the fair value and, with respect to the non-PEO NEOs, the average of the fair values, as of the end of the covered fiscal year of awards granted in, and remaining outstanding and unvested (in whole or in part) as of the end of, the covered fiscal year.
​
(d)
Reflects, with respect to Messrs. Chang and Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the end of the covered fiscal year of awards granted in prior fiscalΜύyears that remained outstanding and unvested (in whole or in part) as of the end of the covered fiscal year.
​
(e)
Reflects, with respect to Messrs. Chang and Maffei, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, as of the day awards became vested in the covered fiscal year, when such awards were also granted in the covered fiscal year.
​
(f)
Reflects, with respect to Messrs. Chang and Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the day awards became vested in the covered fiscal year, when such awards were granted in a prior fiscal year.
​
(g)
Reflects, with respect to Mr.ΜύChang, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, at the end of the prior fiscal year of awards granted in a prior fiscal year that were forfeited in the covered fiscal year.
Μύ Μύ Μύ Μύ
Non-PEO NEO Average Total Compensation Amount Μύ Μύ $ 6,114,535 $ 2,425,443 $ 4,104,109 $ 1,935,773 $ 1,773,064
Non-PEO NEO Average Compensation Actually Paid Amount Μύ Μύ $ 5,625,333 3,749,394 4,166,004 1,489,203 2,770,504
Adjustment to Non-PEO NEO Compensation Footnote Μύ Μύ
(3)
Represents the compensation actually paid to Messrs. Chang, Malone and Maffei and the non-PEO NEOs in each of the fiscalΜύyears indicated as computed in accordance with ItemΜύ402(v) of RegulationΜύS-K and related SEC guidance, as set forth below:
​
Compensation actually paid to PEO and Non-PEO NEOs
​
​ ​ ​ ​
As Reported in Summary
Compensation Table(a)
​ ​
Equity Award Adjustments(b)
​ ​ ​ ​ ​ ​ ​
​
Year
​ ​
Total
​ ​
Stock
Awards
​ ​
Option
Awards
​ ​
Fair Value at
Year End of
Awards
Granted
During Year
that Remain
Outstanding
and
Unvested at
Year End(c)
​ ​
Year-over-
Year Change
in Fair
Value of
Awards
Granted in
Prior Year
that Remain
Outstanding
and
Unvested at
Year End(d)
​ ​
Fair Value at
Vesting Date
of Awards
Granted and
Vested in
Same Year(e)
​ ​
Change in
Fair Value
from Prior
Year End to
Vesting Date
of Awards
Granted in
Prior Year
and Vested
in Covered
Year(f)
​ ​
Fair Value at
End of Prior
Year of
Awards
Granted in
Prior Year that
Failed to Vest
in Covered
Year(g)
​ ​
Total
Compensation
Actually Paid
​
​
PEO
​
​
2025
​ ​ ​ ​ 39,339,990 ​ ​ ​ ​ ​ (21,503,190) ​ ​ ​ ​ ​ (14,353,669) ​ ​ ​ ​ ​ 29,167,625 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (152,654) ​ ​ ​ ​ ​ 32,498,102 ​ ​
​
Former PEO
​
​
2025
​ ​ ​ ​ 1,364,063 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 1,364,063 ​ ​
​
2024
​ ​ ​ ​ 24,291,922 ​ ​ ​ ​ ​ (8,731,320) ​ ​ ​ ​ ​ (1,126,049) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 12,731,550 ​ ​ ​ ​ ​ 16,384,011 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 43,550,114 ​ ​
​
2023
​ ​ ​ ​ 28,655,193 ​ ​ ​ ​ ​ (7,131,983) ​ ​ ​ ​ ​ (3,822,432) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (458,726) ​ ​ ​ ​ ​ 12,272,955 ​ ​ ​ ​ ​ 4,795,713 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 34,310,721 ​ ​
​
2022
​ ​ ​ ​ 22,363,007 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (7,800,250) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (14,301,548) ​ ​ ​ ​ ​ 7,718,670 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 7,979,878 ​ ​
​
2021
​ ​ ​ ​ 21,575,769 ​ ​ ​ ​ ​ (3,954,951) ​ ​ ​ ​ ​ (3,521,474) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 25,523,112 ​ ​ ​ ​ ​ 8,796,350 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 48,418,806 ​ ​
​
Non-PEO NEOs
​
​
2025
​ ​ ​ ​ 6,114,535 ​ ​ ​ ​ ​ (2,684,015) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 740,450 ​ ​ ​ ​ ​ 35,984 ​ ​ ​ ​ ​ 1,326,683 ​ ​ ​ ​ ​ 91,696 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 5,625,333 ​ ​
​
2024
​ ​ ​ ​ 2,425,443 ​ ​ ​ ​ ​ (598,222) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 819,086 ​ ​ ​ ​ ​ 727,827 ​ ​ ​ ​ ​ 375,259 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 3,749,394 ​ ​
​
2023
​ ​ ​ ​ 4,104,109 ​ ​ ​ ​ ​ (1,772,621) ​ ​ ​ ​ ​ (603,174) ​ ​ ​ ​ ​ 1,773,120 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 605,132 ​ ​ ​ ​ ​ 59,439 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 4,166,004 ​ ​
​
2022
​ ​ ​ ​ 1,935,773 ​ ​ ​ ​ ​ (395,466) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ (236,242) ​ ​ ​ ​ ​ 396,740 ​ ​ ​ ​ ​ (211,602) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 1,489,203 ​ ​
​
2021
​ ​ ​ ​ 1,773,064 ​ ​ ​ ​ ​ (388,774) ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 919,194 ​ ​ ​ ​ ​ 467,020 ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ β€” ​ ​ ​ ​ ​ 2,770,504 ​ ​
​
(a)
Reflects, for Messrs. Chang, Malone and Maffei, the applicable amounts reported in the Summary Compensation Table and for the non-PEO NEOs, the average of the applicable amounts reported in the Summary Compensation Table in each of the fiscalΜύyears indicated.
​
(b)
No equity award adjustments are made for Mr.ΜύMalone as he did not hold any equity awards in 2021, 2022, 2023, 2024 or 2025.
(c)
Reflects, with respect to Messrs. Chang and Maffei, the fair value and, with respect to the non-PEO NEOs, the average of the fair values, as of the end of the covered fiscal year of awards granted in, and remaining outstanding and unvested (in whole or in part) as of the end of, the covered fiscal year.
​
(d)
Reflects, with respect to Messrs. Chang and Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the end of the covered fiscal year of awards granted in prior fiscalΜύyears that remained outstanding and unvested (in whole or in part) as of the end of the covered fiscal year.
​
(e)
Reflects, with respect to Messrs. Chang and Maffei, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, as of the day awards became vested in the covered fiscal year, when such awards were also granted in the covered fiscal year.
​
(f)
Reflects, with respect to Messrs. Chang and Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the day awards became vested in the covered fiscal year, when such awards were granted in a prior fiscal year.
​
(g)
Reflects, with respect to Mr.ΜύChang, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, at the end of the prior fiscal year of awards granted in a prior fiscal year that were forfeited in the covered fiscal year.
Μύ Μύ Μύ Μύ
Compensation Actually Paid vs. Total Shareholder Return Μύ Μύ
Relationship Between Compensation Actually Paid and Cumulative Total Shareholder Return
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_totalsharepeo-pn.jpg]
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_totalshareneo-pn.jpg]
Μύ Μύ Μύ Μύ
Compensation Actually Paid vs. Net Income Μύ Μύ
Relationship Between Compensation Actually Paid and Net Income
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_netincpeo-pn.jpg]
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_netincneo-pn.jpg]
Μύ Μύ Μύ Μύ
Compensation Actually Paid vs. Company Selected Measure Μύ Μύ
Relationship Between Compensation Actually Paid and Adjusted OIBDA
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_oibdapeo-pn.jpg]
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_oibdaneo-pn.jpg]
Μύ Μύ Μύ Μύ
Total Shareholder Return Vs Peer Group Μύ Μύ
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_totalsharepeo-pn.jpg]
[MISSING IMAGE: /investors/financial-information/sec-filings/xbrl_doc_only/4335/bc_totalshareneo-pn.jpg]
Μύ Μύ Μύ Μύ
Tabular List, Table Μύ Μύ
2025 Key Performance Measures
The table below contains an unranked list of the most important financial performance measures we use to link executive compensation actually paid to performance.
​
Key Financial Performance Measures
Revenue
Adjusted OIBDA
Free Cash Flow
​
Μύ Μύ Μύ Μύ
Peer Group Total Shareholder Return Amount Μύ Μύ $ 227.74 167.25 118.24 71.2 126.94
Net Income (Loss) Μύ Μύ $ 555,000,000 $ (2,475,000,000) $ 962,000,000 $ 2,029,000,000 $ 744,000,000
Company Selected Measure Amount Μύ Μύ 1,068,000,000 1,517,000,000 4,086,000,000 3,941,000,000 3,481,000,000
PEO Name Mr.ΜύMalone Mr.ΜύChang Μύ Μύ Μύ Μύ Μύ
Total Shareholder Return Amount FWONA Μύ Μύ $ 245.5 $ 230.83 $ 159.25 $ 140.64 $ 156.2
Total Shareholder Return Amount FWONK Μύ Μύ 239.29 225.08 153.35 140.33 148.45
Total Shareholder Return Amount LLYVA Μύ Μύ 232.21 186.29 102.29 Μύ Μύ
Total Shareholder Return Amount LLYVK Μύ Μύ $ 225.9 180.63 99.23 Μύ Μύ
Total Shareholder Return Amount LSXMA Μύ Μύ Μύ 70.25 90.58 91.02 117.74
Total Shareholder Return Amount LSXMB Μύ Μύ Μύ 52 66.48 90.16 118.25
Total Shareholder Return Amount LSXMK Μύ Μύ Μύ 66.16 85.42 89.93 116.87
Total Shareholder Return Amount BATRA Μύ Μύ Μύ Μύ 174.39 131.36 115.6
Total Shareholder Return Amount BATRK Μύ Μύ Μύ Μύ 168.77 129.54 112.94
Measure:: 1 Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Name Μύ Μύ Revenue Μύ Μύ Μύ Μύ
Measure:: 2 Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Name Μύ Μύ Adjusted OIBDA Μύ Μύ Μύ Μύ
Non-GAAP Measure Description Μύ Μύ
(7)
We define Adjusted OIBDA as operating income (loss) plus depreciation and amortization, stock-based compensation, separately reported litigation settlements, transaction related costs (including acquisition, restructuring, integration, and advisory fees), and impairment charges. For purposes of this disclosure, Adjusted OIBDA includes our attributable interests in our equity investments.
Μύ Μύ Μύ Μύ
Measure:: 3 Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Name Μύ Μύ Free Cash Flow Μύ Μύ Μύ Μύ
Mr. Chang [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
PEO Total Compensation Amount Μύ Μύ $ 39,339,990
PEO Actually Paid Compensation Amount Μύ Μύ 32,498,102
Mr. Malone [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
PEO Total Compensation Amount Μύ Μύ 1,364,063 Μύ Μύ Μύ Μύ
PEO Actually Paid Compensation Amount Μύ Μύ 1,364,063 Μύ Μύ Μύ Μύ
Gregory Maffei [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
PEO Total Compensation Amount Μύ Μύ Μύ 24,291,922 28,655,193 22,363,007 21,575,769
PEO Actually Paid Compensation Amount Μύ Μύ Μύ 43,550,114 34,310,721 7,979,878 48,418,806
PEO | Mr. Chang [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ 29,167,625 Μύ Μύ Μύ Μύ
PEO | Mr. Chang [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Chang [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Chang [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Chang [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ (152,654) Μύ Μύ Μύ Μύ
PEO | Mr. Chang [Member] | Stock Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ (21,503,190) Μύ Μύ Μύ Μύ
PEO | Mr. Chang [Member] | Option Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ (14,353,669) Μύ Μύ Μύ Μύ
PEO | Mr. Malone [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Malone [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Malone [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Malone [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Malone [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Malone [Member] | Stock Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Mr. Malone [Member] | Option Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ Μύ Μύ Μύ
PEO | Gregory Maffei [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ
PEO | Gregory Maffei [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ (458,726) (14,301,548) 25,523,112
PEO | Gregory Maffei [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ 12,731,550 12,272,955 7,718,670 8,796,350
PEO | Gregory Maffei [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ 16,384,011 4,795,713
PEO | Gregory Maffei [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ
PEO | Gregory Maffei [Member] | Stock Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ (8,731,320) (7,131,983) (3,954,951)
PEO | Gregory Maffei [Member] | Option Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ Μύ (1,126,049) (3,822,432) (7,800,250) (3,521,474)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ 740,450 1,773,120
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ 35,984 819,086 (236,242) 919,194
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ 1,326,683 727,827 605,132 396,740 467,020
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ 91,696 375,259 59,439 (211,602)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ
Non-PEO NEO | Stock Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ (2,684,015) (598,222) (1,772,621) (395,466) (388,774)
Non-PEO NEO | Option Awards [Member] Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Pay vs Performance Disclosure Μύ Μύ Μύ Μύ Μύ Μύ Μύ
Adjustment to Compensation, Amount Μύ Μύ $ (603,174)