Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * BENNETT ROBERT R 2. Issuer Name and Ticker or Trading Symbol Liberty Media Corp [FWONK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman of the Board (Last) (First) (Middle) 12300 LIBERTY BOULEVARD 3. Date of Earliest Transaction (Month/Day/Year) 11/09/2026 (Street) ENGLEWOOD, CO 80112 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy) - FWONA

$102.83

11/09/2026

A(1)

600,000

(2)

11/09/2033

Series A Common Stock

600,000

$ 0

600,000

D

Stock Option (Right to Buy) - FWONB

$85.09

11/09/2026

D(3)

400,000

(3)

12/03/2032

Series B Common Stock(4)

400,000

(3)

0

D

Stock Option (Right to Buy) - FWONK

$108.01

11/09/2026

A(5)

60,000

(2)

11/09/2033

Series C Common Stock

60,000

$ 0

60,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BENNETT ROBERT R 12300 LIBERTY BOULEVARD ENGLEWOOD, CO 80112	X		Chairman of the Board

Signatures

/s/ Brittany A. Uthoff as Attorney-in-Fact for Robert R. Bennett		11/12/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents options to purchase shares of the Issuer's Series A Common Stock granted pursuant to the Settlement Agreement (as defined in Footnote 3).
(2)	The options vested as to 20% on the grant date and vest as to an additional 20% on each of the first four anniversaries thereof.
(3)	Reflects the disposition of options to purchase shares of the Issuer's Series B Common Stock ("FWONB"), pursuant to the Stock Option Award and Settlement Agreement, dated as of November 4, 2026, between the Reporting Person and the Issuer (the "Settlement Agreement"), in connection with the closing of the exchange contemplated by the Exchange Agreement, dated as of November 4, 2026, among the Issuer and the persons named therein (the "Closing"). Following the Closing, pursuant to the Settlement Agreement, on November 9, 2026, the options vested in full and were cancelled in exchange for a cash payment of $17.74 per share underlying the options, less applicable tax withholding, representing the excess of the fair market value of a share of FWONB on November 9, 2026 over the exercise price of the options.
(4)	On May 12, 2026, the Issuer reincorporated from a corporation incorporated under the laws of the State of Delaware to a corporation incorporated under the laws of the State of Nevada by means of a plan of conversion. At the effective time of the conversion, any option to purchase shares of the Issuer's Series B Liberty Formula One Common Stock of the Delaware Corporation automatically converted into a corresponding award with respect to the same number of shares of Series B Common Stock of the Nevada Corporation with the same terms. The conversion did not alter the proportionate interests of security holders.
(5)	Represents options to purchase shares of the Issuer's Series C Common Stock granted pursuant to the Settlement Agreement.
Remarks: The transactions reported on this Form 4 were approved by a special committee of the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.

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