ÎçҹѰ»¨ Media Reports Appeal in Indenture Litigation
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- ÎçҹѰ»¨ ("ÎçҹѰ»¨") (Nasdaq: LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB) announced that The Bank of New York Mellon Trust Company, N.A. has appealed the Delaware Court of Chancery's ruling that the pending split-off ("Split-Off") of the ÎçҹѰ»¨ Capital and ÎçҹѰ»¨ Starz tracking stock groups will not constitute a disposition of all or substantially all the assets of ÎçҹѰ»¨ Media, LLC under the indenture governing its public indebtedness. ÎçҹѰ»¨ is requesting expedition of this appeal and hopes to complete the Split-Off prior to September 23, 2011, which is the last trading day on which ÎçҹѰ»¨ can complete the Split-Off under the terms of ÎçҹѰ»¨'s charter without seeking another vote of the ÎçҹѰ»¨ Capital and ÎçҹѰ»¨ Starz tracking stockholders.
The consummation of the Split-Off is conditioned on a final non-appealable judgment in the Delaware matter, in addition to the other conditions disclosed in ÎçҹѰ»¨'s proxy statement.
About ÎçҹѰ»¨
ÎçҹѰ»¨ Media owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to three tracking stock groups: (1) the ÎçҹѰ»¨ Interactive group (Nasdaq: LINTA, LINTB), which includes ÎçҹѰ»¨ Media's interests in QVC, Provide Commerce, Backcountry.com, Celebrate Interactive, Bodybuilding.com and Expedia, (2) the ÎçҹѰ»¨ Starz group (Nasdaq: LSTZA, LSTZB), which includes ÎçҹѰ»¨ Media's interest in Starz, LLC, and (3) the ÎçҹѰ»¨ Capital group (Nasdaq: LCAPA, LCAPB), which includes all businesses, assets and liabilities not attributed to the Interactive group or the Starz group including its subsidiaries the Atlanta National League Baseball Club, Inc., and TruePosition, Inc., ÎçҹѰ»¨ Media's interest in SIRIUS XM Radio, Inc., and minority equity investments in Live Nation, Time Warner Inc. and Viacom.
Additional Information
Nothing in this press release shall constitute a solicitation to buy or an offer to sell shares of the split-off entity or any of ÎçҹѰ»¨'s tracking stocks. The offer and sale of shares in the proposed split-off will only be made pursuant to ÎçҹѰ»¨ CapStarz, Inc.'s effective registration statement (f/k/a ÎçҹѰ»¨ Splitco, Inc.). ÎçҹѰ»¨ stockholders and other investors are urged to read the Form S-4 registration statement on file with the SEC, including ÎçҹѰ»¨'s proxy statement/prospectus contained therein, because they contain important information about the split-off. Copies of ÎçҹѰ»¨'s and ÎçҹѰ»¨ CapStarz, Inc.'s SEC filings are available free of charge at the SEC's website (). Copies of the filings together with the materials incorporated by reference therein are also available, without charge, by directing a request to ÎçҹѰ»¨, 12300 ÎçҹѰ»¨ Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5408.
Source: ÎçҹѰ»¨
Released June 7, 2011