ÎçҹѰ»¨

Exhibit 99.2

 

August 3, 2023

 

ÎçҹѰ»¨ Completes Reclassification of Tracking Stocks

 

ENGLEWOOD, Colo.—(BUSINESS WIRE)—ÎçҹѰ»¨ (“ÎçҹѰ»¨ Media”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced it completed, effective as of 5:00 p.m., New York City time, on August 3, 2023, the previously announced reclassification of its existing ÎçҹѰ»¨ SiriusXM common stock and ÎçҹѰ»¨ Formula One common stock into three new tracking stocks: new ÎçҹѰ»¨ SiriusXM common stock, new ÎçҹѰ»¨ Formula One common stock and ÎçҹѰ»¨ Live common stock (each with three series of common stock) (the “Reclassification”). In the Reclassification,

 

·each outstanding share of ÎçҹѰ»¨ SiriusXM common stock was reclassified into one share of the corresponding series of new ÎçҹѰ»¨ SiriusXM common stock and 0.2500 of a share of the corresponding series of ÎçҹѰ»¨ Live common stock, and

 

·each outstanding share of ÎçҹѰ»¨ Formula One common stock was reclassified into one share of the corresponding series of new ÎçҹѰ»¨ Formula One common stock and 0.0428 of a share of the corresponding series of ÎçҹѰ»¨ Live common stock.

 

Cash will be paid in lieu of any fractional shares of ÎçҹѰ»¨ Live common stock. Holders of ÎçҹѰ»¨ Media common stock should contact their broker or other nominee for additional details or questions regarding cash in lieu payments.

 

ÎçҹѰ»¨ Media anticipates that the newly issued shares will commence trading or quotation in the regular way on the Nasdaq Global Select Market or the OTC Markets, as applicable, on Friday, August 4, 2023 under the following symbols:

 

Nasdaq Global Select Market
Tracking Stock     Symbol
Series A ÎçҹѰ»¨ SiriusXM common stock     LSXMA
Series B ÎçҹѰ»¨ SiriusXM common stock     LSXMB
Series C ÎçҹѰ»¨ SiriusXM common stock     LSXMK
Series A ÎçҹѰ»¨ Formula One common stock     FWONA
Series C ÎçҹѰ»¨ Formula One common stock     FWONK
Series A ÎçҹѰ»¨ Live common stock     LLYVA
Series C ÎçҹѰ»¨ Live common stock     LLYVK
OTC Markets
Tracking Stock     Symbol
Series B ÎçҹѰ»¨ Formula One common stock     FWONB
Series B ÎçҹѰ»¨ Live common stock     LLYVB

 

Effective as of the Reclassification, ÎçҹѰ»¨ Media has outstanding an aggregate of approximately 25.6 million shares of Series A ÎçҹѰ»¨ Live common stock, 2.5 million shares of Series B ÎçҹѰ»¨ Live common stock and 63.6 million shares of Series C ÎçҹѰ»¨ Live common stock.

 

 

 

 

Forward-Looking Statements

 

This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including certain statements relating to the commencement of trading or quotation, as applicable, of the shares of ÎçҹѰ»¨ Media common stock. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws. These forward-looking statements generally can be identified by phrases such as “possible,” “potential,” “intends” or “expects” or other words or phrases of similar import or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” “could,” or similar variations. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These forward-looking statements speak only as of the date of this communication, and ÎçҹѰ»¨ Media expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in ÎçҹѰ»¨ Media’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of ÎçҹѰ»¨ Media, including its Registration Statement on Form S-4 (File No. 333-268921), as amended, and its most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports ÎçҹѰ»¨ Media subsequently files with the SEC, for additional information about ÎçҹѰ»¨ Media and about the risks and uncertainties related to ÎçҹѰ»¨ Media’s business which may affect the statements made in this communication.

 

About ÎçҹѰ»¨

 

ÎçҹѰ»¨ operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the ÎçҹѰ»¨ SiriusXM Group, the Formula One Group and the ÎçҹѰ»¨ Live Group. The businesses and assets attributed to the ÎçҹѰ»¨ SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include ÎçҹѰ»¨ Media’s interest in SiriusXM. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include ÎçҹѰ»¨ Media’s subsidiary Formula 1 and other minority investments. The businesses and assets attributed to the ÎçҹѰ»¨ Live Group (NASDAQ: LLYVA, LLYVK) include ÎçҹѰ»¨ Media’s interest in Live Nation and other minority investments.

 

ÎçҹѰ»¨
Shane Kleinstein, 720-875-5432

 

Source: ÎçҹѰ»¨