Liberty Media Corp. engages in the operation media, communications, and entertainment businesses. It operates through the SIRIUS XM and Formula 1 segments. The SIRIUS XM segment provides subscription based satellite radio service. The Formula 1 segment refers to a global motorsports business that holds exclusive commercial rights with respect to the World Championship, an annual, motor race-based competition. The company was founded on March 28, 1991 and is headquartered in Englewood, CO.