Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

In connection with the preparation of its Annual Report on Form 10-K for the year ended December 31, 2021, Liberty Media Acquisition Corporation (the "Company") management determined that it needed to account for its Forward Purchase Agreement as a single freestanding financial instrument versus two freestanding financial instruments under which the equity to be issued would get equity treatment and the underlying warrants to be issued were accounted for in accordance with the guidance contained in Accounting Standards Codification Topic 815, Derivatives and Hedging. As a result of assessing the Forward Purchase Agreement as a single freestanding financial instrument, the Company now classifies the entirety of the Forward Purchase Agreement as a liability at its fair value and adjusts the Forward Purchase Agreement to fair value at each reporting period through the statements of operations.

On March 23, 2022, the Audit Committee of the Board of Directors of the Company (the "Audit Committee"), after considering the recommendations of management, determined that the Company's previously issued (i) audited balance sheet of the Company, dated as of January 26, 2021, included in a Current Report on Form 8-K filed by the Company on February 1, 2021, (ii) unaudited interim financial statements included in the Company's Quarterly Report Form 10-Q for the quarterly period ended March 31, 2021 filed with the SEC on May 17, 2021, (iii) unaudited interim financial statements included in the Company's Quarterly Report Form 10-Q for the quarterly period ended June 30, 2021 filed with the SEC on July 16, 2021 and (iv) unaudited interim financial statements included in the Company's Quarterly Report Form 10-Q for the quarterly period ended September 30, 2021 filed with the SEC on October 19, 2021 should be restated for the Forward Purchase Agreement and no longer be relied upon.

The Audit Committee and management have discussed the matters disclosed in this Item 4.02 with Marcum LLP, its independent registered public accounting firm.


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