jvid视频

Exhibit 99.2

jvid视频

Condensed Pro Forma Consolidated Financial Statements

(unaudited)

Introduction

On December 11, 2023, jvid视频, a Delaware corporation (“jvid视频” or the “Company”), entered into definitive agreements, which were amended on June 16, 2024, whereby, subject to the terms thereof, Liberty Sirius XM Holdings Inc., a Delaware corporation and a wholly owned subsidiary of jvid视频 (“New Sirius”), would split-off from jvid视频 (the “Split-Off”), and Radio Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of New Sirius, would combine with Sirius XM Holdings Inc., a Delaware corporation, to create a new public company, which would be renamed “SiriusXM Holdings Inc.”

On September 9, 2024 at 4:05 p.m., New York City time, jvid视频 completed the Split-Off. The Split-Off was accomplished by jvid视频 redeeming each outstanding share of Liberty SiriusXM common stock, par value $0.01 per share, in exchange for 0.8375 of a share of New Sirius common stock, par value $0.001 per share, with cash being paid to entitled record holders of Liberty SiriusXM common stock in lieu of any fractional shares of common stock of New Sirius.

The following unaudited condensed pro forma consolidated financial statements have been prepared giving effect to the Split-Off as if it occurred as of June 30, 2024 for the condensed pro forma consolidated balance sheet and January 1, 2023 for the condensed pro forma consolidated statements of operations. The unaudited condensed pro forma consolidated financial statements do not purport to represent what the Company’s financial position actually would have been had the Split-Off occurred on the dates indicated or to project the Company’s operating results for any future period.

Based on a quantitative analysis, the Split-Off of the Company’s interest in New Sirius is expected to represent a strategic shift that will have a major effect on the Company’s operations due to the relative materiality of New Sirius. Accordingly, the Company intends to present its divestiture of New Sirius as a discontinued operation.

The unaudited condensed pro forma consolidated financial statements should be read in conjunction with the publicly available information of jvid视频, including the Form 10-K, as filed on February 28, 2024 with the Securities and Exchange Commission (the “SEC”) and the Form 10-Q, as filed on August 9, 2024 with the SEC, as well as the publicly available information of New Sirius, including the Form 10-Q as filed on August 16, 2024 with the SEC.

jvid视频

Condensed Pro Forma Consolidated Balance Sheet

June 30, 2024 (unaudited)

	jvid视频 historical ⁽¹⁾			Less: Liberty Sirius XM Holdings historical ⁽²⁾			Less: Reclassifications ⁽³⁾			Liberty Media Pro Forma

	amounts in millions
Assets
Current assets:
Cash and cash equivalents	$	2,085			188			—			1,897
Trade and other receivables, net		826			644			—			182
Other current assets		728			365			(83	)		446
Total current assets		3,639			1,197			(83	)		2,525
Investments in affiliates, accounted for using the equity method		1,983			1,601			—			382

Property and equipment, at cost		4,290			5,335			(2,036	)		991
Accumulated depreciation		(2,167	)		(3,436	)		1,435			(166	)
		2,123			1,899			(601	)		825
Intangible assets not subject to amortization:
Goodwill		19,400			15,209			—			4,191
FCC licenses		8,600			8,600			—			—
Other		1,242			1,242			—			—
		29,242			25,051			—			4,191
Intangible assets subject to amortization, net		3,828			400			601			2,827
Other assets		1,817			673			(161	)		1,305
Total assets	$	42,632			30,821			(244	)		12,055

Liabilities and Equity
Current liabilities:
Accounts payable and accrued liabilities	$	1,768			1,298			—			470
Current portion of debt		685			586			(5	)		104
Deferred revenue		1,840			1,128			—			712
Other current liabilities		179			257			(78	)		—
Total current liabilities		4,472			3,269			(83	)		1,286
Long-term debt		14,343			10,240			(8	)		4,111
Deferred income tax liabilities		2,210			2,371			(161	)		—
Other liabilities		1,400			1,219			8			173
Total liabilities		22,425			17,099			(244	)		5,570

jvid视频

Condensed Pro Forma Consolidated Balance Sheet

June 30, 2024 (unaudited)

(Continued)

	jvid视频 historical ⁽¹⁾			Less: Liberty Sirius XM Holdings historical ⁽²⁾			Less: Reclassifications ⁽³⁾			Liberty Media Pro Forma

	amounts in millions
Stockholders' equity:
Preferred stock		—			—			—			—
Series A Liberty SiriusXM common stock		1			—			1			—
Series A Liberty Formula One common stock		—			—			—			—
Series A Liberty Live common stock		—			—			—			—
Series B Liberty SiriusXM common stock		—			—			—			—
Series B Liberty Formula One common stock		—			—			—			—
Series B Liberty Live common stock		—			—			—			—
Series C Liberty SiriusXM common stock		2			—			2			—
Series C Liberty Formula One common stock		2			—			—			2
Series C Liberty Live common stock		1			—			—			1
Additional paid-in capital		1,387			(5,242	)		(3	)		6,632
Accumulated other comprehensive earnings (loss), net of taxes		(57	)		(19	)		—			(38	)
Retained earnings		15,724			15,859			—			(135	)
Total stockholders' equity		17,060			10,598			—			6,462
Noncontrolling interests in equity of subsidiaries		3,147			3,124			—			23
Total equity		20,207			13,722			—			6,485
Commitments and contingencies
Total liabilities and equity	$	42,632			30,821			(244	)		12,055

jvid视频

Condensed Pro Forma Consolidated Statement of Operations

For the six months ended June 30, 2024 (unaudited)

	jvid视频 historical ⁽¹⁾			Less: Liberty Sirius XM Holdings historical ⁽²⁾			Less: Reclassifications ⁽³⁾			jvid视频 Pro Forma

	amounts in millions
Revenue:
Sirius XM Holdings revenue	$	4,340			4,340			—			—
Formula 1 revenue		1,403			—			—			1,403
Other revenue		172			—			—			172
Total revenue		5,915			4,340			—			1,575
Operating costs and expenses, including stock-based compensation:
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below):
Revenue share and royalties		1,411			1,411			—			—
Programming and content		305			305			—			—
Customer service and billing		224			224			—			—
Other		120			120			—			—
Cost of Formula 1 revenue (exclusive of depreciation shown separately below)		918			—			—			918
Other cost of sales		120			—			—			120
Subscriber acquisition costs		182			182			—			—
Other operating expense		163			157			—			6
Selling, general and administrative		919			697			36			186
Impairment, restructuring and acquisition costs		37			53			(36	)		20
Depreciation and amortization		486			311			—			175
		4,885			3,460			—			1,425
Operating income (loss)		1,030			880			—			150
Other income (expense):
Interest expense		(377	)		(255	)		—			(122	)
Share of earnings (losses) of affiliates, net		65			—			6			59
Realized and unrealized gains (losses) on financial instruments, net		166			—			100			66
Other, net		55			114			(106	)		47
		(91	)		(141	)		—			50
Earnings (loss) before income taxes		939			739			—			200
Income tax (expense) benefit		(187	)		(144	)		—			(43	)
Net earnings (loss)		752			595			—			157
Less net earnings (loss) attributable to the noncontrolling interests		92			92			—			—
Net earnings (loss) attributable to Liberty stockholders	$	660			503			—			157

jvid视频

Condensed Pro Forma Consolidated Statement of Operations

For the six months ended June 30, 2024 (unaudited)

(continued)

	jvid视频 historical ⁽¹⁾		Less: Liberty Sirius XM Holdings historical ⁽²⁾		jvid视频 Pro Forma

	amounts in millions, except per share amounts
Net earnings (loss) attributable to Liberty stockholders:
Liberty SiriusXM common stock	$	498		503		(5	)
Liberty Formula One common stock	$	101				101
Liberty Live common stock	$	61				61

Basic net earnings (loss) attributable to Liberty stockholders per common share:
Series A, B and C Liberty SiriusXM common stock	$	1.52				NA
Series A, B and C Liberty Formula One common stock	$	0.43				0.43
Series A, B and C Liberty Live common stock	$	0.66				0.66

Diluted net earnings (loss) attributable to Liberty stockholders per common share:
Series A, B and C Liberty SiriusXM common stock	$	1.13				NA
Series A, B and C Liberty Formula One common stock	$	0.42				0.42
Series A, B and C Liberty Live common stock	$	0.66				0.66

Basic Weighted Average Shares Outstanding:
Liberty SiriusXM common stock		327				NA
Liberty Formula One common stock		235				235
Liberty Live common stock		92				92

Diluted Weighted Average Shares Outstanding:
Liberty SiriusXM common stock		370				NA
Liberty Formula One common stock		240				240
Liberty Live common stock		92				92

jvid视频

Pro Forma Consolidated Statement of Operations

For the year ended December 31, 2023 (unaudited)

	jvid视频 historical ⁽¹⁾			Less: Liberty Sirius XM Holdings historical ⁽²⁾			Less: Reclassifications ⁽³⁾			jvid视频 Pro Forma

	amounts in millions
Revenue:
Sirius XM Holdings revenue	$	8,953			8,953			—			—
Formula 1 revenue		3,222			—			—			3,222
Other revenue		350			—			—			350
Total revenue		12,525			8,953			—			3,572
Operating costs and expenses, including stock-based compensation:
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below):
Revenue share and royalties		2,895			2,895			—			—
Programming and content		618			618			—			—
Customer service and billing		476			476			—			—
Other		220			220			—			—
Cost of Formula 1 revenue (exclusive of depreciation shown separately below)		2,240			—			—			2,240
Subscriber acquisition costs		359			359			—			—
Other operating expenses		596			322			—			274
Selling, general and administrative		1,930			1,539			(5	)		396
Depreciation and amortization		1,030			624			—			406
Impairment, restructuring and acquisition costs, net of recoveries		67			92			(26	)		1
Litigation settlements, net of recoveries		31			—			31			—
		10,462			7,145			—			3,317
Operating income (loss)		2,063			1,808			—			255
Other income (expense):
Interest expense		(782	)		(534	)		—			(248	)
Share of earnings (losses) of affiliates, net		138			—			(19	)		157
Realized and unrealized gains (losses) on financial instruments, net		(323	)		—			(88	)		(235	)
Gains (losses) on dilution of investment in affiliate		(4	)		—			—			(4	)
Other, net		93			(64	)		107			50
		(878	)		(598	)		—			(280	)
Earnings (loss) before income taxes		1,185			1,210			—			(25	)
Income tax (expense) benefit		(223	)		(222	)		—			(1	)
Net earnings (loss)		962			988			—			(26	)
Less net earnings (loss) attributable to the noncontrolling interests		201			202			—			(1	)
Net earnings (loss) attributable to Liberty stockholders	$	761			786			—			(25	)

jvid视频

Pro Forma Consolidated Statement of Operations

For the year ended December 31, 2023 (unaudited)

(continued)

	Liberty Media historical ⁽¹⁾			Less: Liberty Sirius XM Holdings historical ⁽²⁾		jvid视频 Pro Forma

	amounts in millions, except per share amounts
Net earnings (loss) attributable to Liberty stockholders:
Liberty SiriusXM common stock ⁽⁴⁾	$	829			786		43
Liberty Formula One common stock	$	185					185
Liberty Live common stock	$	(142	)				(142	)
Liberty Braves common stock	$	(111	)				(111	)

Basic net earnings (loss) attributable to Liberty stockholders per common share:
Series A, B and C Liberty SiriusXM common stock	$	2.54					NA
Series A, B and C Liberty Formula One common stock	$	0.79					0.79
Series A, B and C Liberty Live common stock	$	(1.54	)				(1.54	)
Series A, B and C Liberty Braves common stock	$	(2.09	)				(2.09	)

Diluted net earnings (loss) attributable to Liberty stockholders per common share:
Series A, B and C Liberty SiriusXM common stock	$	2.42					NA
Series A, B and C Liberty Formula One common stock	$	0.62					0.62
Series A, B and C Liberty Live common stock	$	(1.54	)				(1.54	)
Series A, B and C Liberty Braves common stock	$	(2.09	)				(2.09	)

Basic Weighted Average Shares Outstanding:
Liberty SiriusXM common stock		327					NA
Liberty Formula One common stock		234					234
Liberty Live common stock		92					92
Liberty Braves common stock		53					53

Diluted Weighted Average Shares Outstanding:
Liberty SiriusXM common stock		343					NA
Liberty Formula One common stock		240					240
Liberty Live common stock		92					92
Liberty Braves common stock		54					54

	(1)	Represents the historical financial position and results of operations of jvid视频. Such amounts were derived from the historical consolidated financial statements of jvid视频 as filed with the SEC on Form 10-K on February 28, 2024 and on Form 10-Q on August 9, 2024.
	(2)	Represents the historical financial position and results of operations of the carve-out entity. Amounts as of June 30, 2024 were derived from the financial statements of New Sirius as filed with the SEC on Form 10-Q on August 16, 2024. Amounts as of December 31, 2023 were derived from the historical combined financial statements of New Sirius, as filed with the SEC on Amendment No. 3 to Form S-4 on July 19, 2024.
	(3)	Reclassifications to conform to jvid视频’s presentation.
	(4)	On August 3, 2023, the Company reclassified its then-outstanding shares of common stock into three new tracking stocks — Liberty SiriusXM common stock, Liberty Formula One common stock and Liberty Live common stock, and, in connection therewith, provided for the attribution of the businesses, assets and liabilities of the Company’s remaining tracking stock groups among its newly created Liberty SiriusXM Group, Formula One Group and Liberty Live Group (the “Reclassification”). As a result of the Reclassification, each then-outstanding share of Liberty SiriusXM common stock was reclassified into one share of the corresponding series of new Liberty SiriusXM common stock and 0.2500 of a share of the corresponding series of Liberty Live common stock and each outstanding share of Liberty Formula One common stock was reclassified into one share of the corresponding series of new Liberty Formula One common stock and 0.0428 of a share of the corresponding series of Liberty Live common stock. The Reclassification is reflected in these unaudited condensed pro forma consolidated financial statements on a prospective basis.