13G Filing: Park West Asset Management and Liberty Media Corp (NASDAQ:LSXMA)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

Check the appropriate box to designate the
rule pursuant to which this Schedule 13G is filed:

[   ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[   ] Rule 13d-1(d)

* The remainder of this cover page shall be
filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of
this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).

* The beneficial ownership percentage is based upon 10,236,525 shares of Series A Liberty Braves Common Stock,
par value $.01 per share, of Liberty Media Corporation (“Series A Braves Common Stock”), a Delaware corporation (the
“Company”), issued and outstanding as of January 31, 2017, based on information reported by the Company in its Annual
Report on Form 10-K, filed with the Securities and Exchange Commission on February 28, 2017. Park West Asset Management LLC (“PWAM”)
is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company (“PWIMF”),
and Park West Partners International, Limited, a Cayman Islands exempted company (“PWPI” and, collectively with PWIMF,
the “PW Funds”), and Peter S. Park (“Mr. Park” and, collectively with PWIMF and PWAM, the “Reporting
Persons”) is the sole member and manager of PWAM. As of March 17, 2017, PWIMF held 540,546 shares of Series A Braves Common
Stock and PWPI held 70,557 shares of Series A Braves Common Stock. As a result of the foregoing, for purposes of Reg. Section 240.13d-3,
PWAM and Mr. Park are each deemed to beneficially own 611,103 shares of Series A Braves Common Stock held in the aggregate by the
PW Funds, or approximately 6.0% of the shares of Series A Braves Common Stock deemed to be issued and outstanding as of March 17,
2017.

* The beneficial
ownership percentage is based upon 10,236,525 shares of Series A Liberty Braves Common Stock, par value $.01 per share, of Liberty
Media Corporation (“Series A Braves Common Stock”), a Delaware corporation (the “Company”), issued and
outstanding as of January 31, 2017, based on information reported by the Company in its Annual Report on Form 10-K, filed with
the Securities and Exchange Commission on February 28, 2017. Park West Asset Management LLC (“PWAM”) is the investment
manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company (“PWIMF”), and Park West Partners
International, Limited, a Cayman Islands exempted company (“PWPI” and, collectively with PWIMF, the “PW Funds”),
and Peter S. Park (“Mr. Park” and, collectively with PWIMF and PWAM, the “Reporting Persons”) is the sole
member and manager of PWAM. As of March 17, 2017, PWIMF held 540,546 shares of Series A Braves Common Stock and PWPI held 70,557
shares of Series A Braves Common Stock. As a result of the foregoing, for purposes of Reg. Section 240.13d-3, PWAM and Mr. Park
are each deemed to beneficially own 611,103 shares of Series A Braves Common Stock held in the aggregate by the PW Funds, or approximately
6.0% of the shares of Series A Braves Common Stock deemed to be issued and outstanding as of March 17, 2017.

* The beneficial ownership percentage is based upon 10,236,525 shares of Series A Liberty Braves Common Stock,
par value $.01 per share, of Liberty Media Corporation (“Series A Braves Common Stock”), a Delaware corporation (the
“Company”), issued and outstanding as of January 31, 2017, based on information reported by the Company in its Annual
Report on Form 10-K, filed with the Securities and Exchange Commission on February 28, 2017. Park West Asset Management LLC (“PWAM”)
is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company (“PWIMF”),
and Park West Partners International, Limited, a Cayman Islands exempted company (“PWPI” and, collectively with PWIMF,
the “PW Funds”), and Peter S. Park (“Mr. Park” and, collectively with PWIMF and PWAM, the “Reporting
Persons”) is the sole member and manager of PWAM. As of March 17, 2017, PWIMF held 540,546 shares of Series A Braves Common
Stock and PWPI held 70,557 shares of Series A Braves Common Stock.

 ___________________________________________________

* This Schedule 13G is being jointly filed
by (i) PWAM, a Delaware limited liability company and the investment manager to (a) PWIMF, a Cayman Islands exempted company that
is the holder of 540,546 shares of Series A Braves Common Stock of the Company reported on this Schedule 13G, and (b) PWPI, a
Cayman Islands exempted company that is the holder of 70,557 shares of Series A Braves Common Stock of the Company reported on
this Schedule 13G (ii) PWIMF; and (iii) Mr. Park, as the sole member and manager of PWAM.

The 611,103 shares of Series A Braves Common
Stock held in the aggregate by the PW Funds, which constitute approximately 6.0% of the shares of Series A Braves Common Stock
deemed to be outstanding as of March 17, 2017, may be deemed to be beneficially owned (x) indirectly by PWAM, as the investment
adviser to PWIMF and PWPI, and (y) indirectly by Mr. Park, as the sole member and manager of PWAM.

The foregoing beneficial ownership percentage is based upon 10,236,525 shares of Series A Braves Common Stock
of the Company, issued and outstanding as of January 31, 2017, based on information reported by the Company in its Annual Report
on Form 10-K, filed with the Securities and Exchange Commission on February 28, 2017.

SIGNATURE

          After reasonable inquiry and to the
best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Attention: Intentional misstatements or omissions
of fact constitute

Federal criminal violations (See 18 U.S.C.
1001)

Exhibit Index

Exhibit A

JOINT FILING AGREEMENT

In accordance with Rule
13d-1(k) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of
them of a statement on Schedule 13G (including amendments thereto) with respect to the Series A Liberty Braves Common Stock, par
value $.01 per share, of Liberty Media Corporation, and further agree that this Joint Filing Agreement be included as Exhibit A
to such Schedule 13G. In evidence thereof, the undersigned hereby execute this agreement this 27th day of March, 2017.