Liberty Formula One Group (NASDAQ:FWONA) Q4 2017 Earnings Conference Call - Final Transcript

Mar 01, 2018 • 12:15 pm ET

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Liberty Formula One Group (NASDAQ:FWONA) Q4 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Liberty Media Corporation 2017 Year-End Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded today, March 1, 2018.

I would now like to turn the conference over to Ms. Courtnee Chun, Senior Vice President of Investor Relations. Please go ahead ma'am.

Executive
Courtnee Chun

Thank you. Before we begin, we'd like to remind everyone this call includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about business strategies, market potential, new service and product launches, the subordinated exchangeable debt offerings, discussions involving IR communications, matters relating to Formula One including future financial performance, expenses, tax matters, brand expansion, including internationally, experience improvement, new opportunities for commercial partnership, sponsorship, promotion and television and other matters that are not historical facts.

These forward-looking involve statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including without limitation, possible changes in market acceptance of new products or services, the ability of our businesses to attract and retain customers, competitive issues, regulatory issues and the availability of capital on terms acceptable to Liberty Media. These forward-looking statements speak only as of the date of this call and Liberty Media expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in Liberty Media's expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement is based.

On today's call, we will discuss certain non-GAAP financial measures, including adjusted OIBDA of Liberty Media and adjusted EBITDA of Sirius XM. The required definitions and reconciliations, Schedules 1, 2, 3 can be found at the end of the earnings press release issued today, which is available on our website.

This call also may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Liberty Broadband. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These forward-looking statements speak only as of the date of this call and Liberty Broadband expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in Liberty Broadband's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Now I'd like to introduce Liberty Media's President and CEO, Greg Maffei.

Executive
Greg Maffei

Thank you, Courtnee, and good morning, or I guess it's good afternoon here on the East Coast, to all of you on the call. Today's speaker on the call we also have Liberty CFO, Mark Carleton and Formula One's Chairman and CEO, Chase Carey. During Q&A, we'll also be available to answer questions related to Liberty Broadband if there are any.

So beginning with Liberty Sirius XM, and as you may know,