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Exhibit 99.5

FORM OF BENEFICIAL OWNER ELECTION FORM

        I (we) acknowledge receipt of your letter and the enclosed materials relating to the offering of rights (the "Series C Liberty SiriusXM Rights") to purchase shares of Series C Liberty SiriusXM common stock, par value $0.01 per share (the "Series C Liberty SiriusXM Common Stock"), of Liberty Media Corporation (the "Company").

        In Part I of this form, I (we) instruct you whether to exercise, sell or transfer the Series C Liberty SiriusXM Rights distributed pursuant to the terms and subject to the conditions set forth in the prospectus dated May 14, 2020.

PART I

BOX 1.   o   Please do not exercise Series C Liberty SiriusXM Rights.

BOX 2.
 
o
 
Please exercise Series C Liberty SiriusXM Rights as set forth below:

 

 
   Number of
Series C Liberty
SiriusXM Rights 		   
   Subscription
Price 		   
   Payment

Basic Subscription Privilege:

                      x   $25.47   =   $             (Line 1)

Oversubscription Privilege:

                      x   $25.47   =   $             (Line 2)

        By exercising the oversubscription privilege (the "Oversubscription Privilege") with respect to my (our) Series C Liberty SiriusXM Rights, I (we) hereby represent and certify that I (we) have fully exercised my (our) basic subscription privilege (the "Basic Subscription Privilege") received in respect of shares of Series C Liberty SiriusXM Common Stock held in the below described capacity.

Total Payment Required = $            

(Sum of Lines 1 and 2 must equal total of amounts in Boxes 3 and 4)

BOX 3.   o   Payment in the following amount is enclosed:                 

BOX 4.
 
o
 
Please deduct payment from the following account maintained by you as follows:

 

     
​ ​ ​
Type of Account   Account No.

Amount to be deducted: $            

Date:                         , 2020

   Signature(s):  

 
Signature(s):		  


      (If held jointly)

 

BOX 5.   o   Please sell                  of my Series C Liberty SiriusXM Rights.

BOX 6.
 
o
 
Please have Broadridge Corporate Issuer Solutions, Inc. effect my specific instructions that I have attached hereto and for which I have had an Eligible Institution guarantee my signature.

 

   Signature(s):  

 
Signature(s):		  


      (If held jointly)


Please type or print name(s) below:    

 
 
 
​ ​ ​

 
 
 
​ ​ ​

Signature(s) Guaranteed by:
 
 

 
 
 
​ ​ ​
Eligible Institution    

2



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