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schema:articleBody	Formula One owner Liberty Media saw its revenues from the sport collapse by more than $200 million in the first quarter due to the coronavirus pandemic, it said Thursday. The pandemic has prevented the season from starting, with 10 races either cancelled or postponed. It will now only get underway on July 5 at the earliest, in Austria. F1 revenue for Liberty Media dropped to just $39 million in the first three months of the year, from $246 million in the same period in 2019, a dramatic drop of 84 percent. The operating loss reached $137 million compared to a loss of $47 million over the same period last year. "F1 currently hopes to start racing in July and continue until December with a target of around 15-18 races," said a statement released by Liberty who took over F1 in 2017. "It is still unclear whether spectators will be able to attend." The revenues generated by F1 of Liberty Media, owned by American billionaire John Malone, come from the sums paid by the organisers of the Grand Prix, broadcasters and sponsorship. However, with racing shelved due to the pandemic and with Liberty Media facing contractual obligations to the teams, the American group in April transferred $1.5 billion which was allocated initially to its SiriusXM satellite radio operations. Meanwhile, the share price of Liberty Media's F1 activities stood 0.4 percent lower in midsession trading on the Nasdaq on Thursday at $29.47. The stock has lost almost 33 percent of its value since the start of the year. jld/dif/dj/jh
schema:headline	Liberty Media see F1 revenues slump by $200 million
schema:mentions	NASDAQ 2009 flu pandemic Formula One Grand Prix motorcycle racing USA Gymnastics Radio broadcasting Austria Billionaire United States Coronavirus Broadcast relay station John C. Malone Liberty Records Liberty Media Sirius XM Satellite Radio
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-07 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	68 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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