Exhibit 99.1
ÎçҹѰ»¨ Media Completes Recapitalization into Three Tracking Stocks
Today ÎçҹѰ»¨ (“ÎçҹѰ»¨”) (Nasdaq: LMCA, LMCB, LMCK) completed a previously announced transaction whereby it recapitalized its existing common stock into three new tracking stocks: the ÎçҹѰ»¨ Braves common Stock, the ÎçҹѰ»¨ Media common Stock and the ÎçҹѰ»¨ SiriusXM common Stock (the “recapitalization”). In the recapitalization, each issued and outstanding share of ÎçҹѰ»¨’s existing common stock was reclassified and exchanged for (a) 1 share of the corresponding series of ÎçҹѰ»¨ SiriusXM common stock, (b) 0.1 of a share of the corresponding series of ÎçҹѰ»¨ Braves common stock and (c) 0.25 of a share of the corresponding series of ÎçҹѰ»¨ Media common stock.
ÎçҹѰ»¨ 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 Monday, April 18, 2016 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»¨ Media common stock |
LMCA |
|
Series C ÎçҹѰ»¨ Media common stock |
LMCK |
|
Series A ÎçҹѰ»¨ Braves common stock |
BATRA |
|
Series C ÎçҹѰ»¨ Braves common stock |
BATRK |
|
OTC Markets |
|
|
Tracking Stock |
Symbol |
|
Series B ÎçҹѰ»¨ Media common stock |
LMCB |
|
Series B ÎçҹѰ»¨ Braves common stock |
BATRB |
About ÎçҹѰ»¨
ÎçҹѰ»¨ (Nasdaq: LMCA, LMCB, LMCK) 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»¨ Braves Group, the ÎçҹѰ»¨ Media Group and the ÎçҹѰ»¨ SiriusXM Group. The businesses and assets attributed to the ÎçҹѰ»¨ SiriusXM Group include our interest in SiriusXM. The businesses and assets attributed to the ÎçҹѰ»¨ Braves Group include our subsidiary Braves Holdings, LLC. The businesses and assets attributed to the ÎçҹѰ»¨ Media Group consist of all of ÎçҹѰ»¨'s businesses and assets other than those attributed to the ÎçҹѰ»¨ Braves Group and ÎçҹѰ»¨ SiriusXM Group, including its interest in Live Nation Entertainment, and minority equity investments in Time Warner Inc. and Viacom.
Forward-Looking Statements
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This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the commencement of quotation of the new LMCB and BATRB. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.
ÎçҹѰ»¨
Courtnee Chun, 720-875-5420
Source: ÎçҹѰ»¨
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