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FWONK

Formula One Group

https://www.libertymedia.com/companies/formula-one-group.html

Industry

Entertainment

Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company was founded in 1950 and is based in Englewood, Colorado. Formula One Group is a subsidiary of Liberty Media Corporation.

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American Express has announced a new multi-year global sponsorship with Formula 1, expanding its presence from five races in the Americas to over 20 races worldwide. This partnership will enhance access and experiences for American Express Card Members globally.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 12:13 pm

LVMH, led by Bernard Arnault, has secured a 10-year sponsorship deal with Formula One, following its significant presence at the Paris Olympics. This move highlights LVMH's strategy to leverage global sports events for brand visibility.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:01 pm

Ryan Reynolds' marketing company, Maximum Effort Marketing, co-founded with George Dewey and owned by MNTN, plans a 2025 IPO. MNTN, a connected TV advertising company, raised $119 million in 2021 with BlackRock and Fidelity Management leading the round. Reynolds' involvement and the company's viral marketing success could drive growth.

Portfolio Pulse from Chris Katje

September 30, 2024 | 4:42 pm

Morgan Stanley analyst Benjamin Swinburne maintains an Equal-Weight rating on Liberty Formula One Group (NASDAQ:FWONK) and raises the price target from $80 to $85.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 5:00 pm

Liberty Media and Sirius XM have announced the final exchange ratio for their split-off, where Liberty SiriusXM shareholders will receive 0.8375 shares of new Sirius stock per share. This will be followed by a merger creating a new public company trading under the symbol 'SIRI'.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 12:20 pm

Formula 1 is planning to host a lender presentation for a proposed $850 million Term Loan B on September 3, 2024. Liberty Media Corporation disclosed that Formula 1's operating business cash and equivalents are approximately $1.457 billion as of August 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 1:10 pm

Liberty Formula One Gr (NYSE:FWONK) has seen a 15.79% increase in its short percent of float, now at 2.42% of available shares. This indicates a rise in bearish sentiment, although it remains below the peer group average of 6.76%.

Portfolio Pulse from Benzinga Insights

August 26, 2024 | 1:45 pm

Liberty Media shareholders have approved a redemptive split-off of Liberty SiriusXM Holdings. The new Sirius will merge with Sirius XM Holdings to form a new public company under the Sirius XM name.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:48 pm

Liberty Media Corporation has announced the pricing of its public offering of 10.65 million shares of Series C Liberty Formula One Common Stock (FWONK) at $77.50 per share, aiming to raise $825.375 million. The proceeds will partially fund the acquisition of Dorna Sports, S.L., and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 12:18 pm

Liberty Media's stock is declining following the announcement of a public offering of 10.65 million shares of Series C common stock.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 8:26 pm

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