X0306 4 2019-01-24 0 0001560385 Liberty Media Corp FWONA 0001426749 Ancient Art, L.P. 500 WEST 5TH STREET SUITE 1110 AUSTIN TX 78701 0 0 1 0 0001502493 Trango II, L.L.C. 500 WEST 5TH STREET SUITE 1110 AUSTIN TX 78701 0 0 1 0 0001119365 LEE QUINCY J 500 WEST 5TH STREET SUITE 1110 AUSTIN TX 78701 0 0 1 0 Series A Liberty Formula One Common Stock 2019-01-24 4 P 0 25000 29.8835 A 2593428 I See Footnote The filing of this Form 4 shall not be construed as an admission that Ancient Art, L.P. ("Ancient Art"), Trango II, L.L.C., the general partner of Ancient Art, and Quincy J. Lee, the principal of Trango, is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the Series A Liberty Formula One Common Stock, par value $.01 per share (the "Common Stock"), of Liberty Media Corporation (the "Issuer") purchased by Teton Capital Partners, L.P. (the "Fund"). Pursuant to Rule 16a-1, Ancient Art, Trango and Mr. Lee disclaim such beneficial ownership except to the extent of its or his spective pecuniary interest therein. The Fund, for which Ancient Art is the investment manager, holds 2,593,428 shares of Common Stock of the Issuer. Trango is the general partner of Ancient Art. Quincy J. Lee reports the Common Stock held indirectly by Ancient Art and Trango because, as the principal of Trango at the time of purchase, he controlled the disposition and voting of the securities. /s/ Quincy J. Lee, manager of Trango II, L.L.C., general partner of Ancient Art, L.P. 2019-01-28 /s/ Quincy J. Lee, manager of Trango II, L.L.C. 2019-01-28 /s/ Quincy J. Lee 2019-01-28