Formula One Beats 1Q Expectations; We Remain Skeptical About 2020 Race Schedule
Formula One Group started off 2019 on a strong note as revenue and adjusted EBITDA both beat consensus and our expectations for the first quarter. Management provided an update on the 2020 season which previously was missing five 2019 races. F1 now expects to have 21 races on the schedule for 2020, in line with 2019. We have updated our model to include the expected return to the Netherlands, increasing our projected 2020 race schedule to 20 races. As a result, we are raising our fair value esti...Liberty Media owns interests in subsidiaries and other companies which are engaged in the media and entertainment industries. The company's businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc., which transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, and the Braves Holdings, LLC, which is engaged in television and radio broadcasting, ticket sales and advertising and corporate sponsorship, and its equity affiliate Live Nation Entertainment, Inc., which is a live entertainment company. The company also owns a portfolio of minority debt and equity investments in media companies, including iHeart Media, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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