Exhibit 99.1
Â鶹app Media Completes Recapitalization into Three Tracking Stocks
Today Â鶹app (“Â鶹app”) (Nasdaq: LMCA, LMCB, LMCK) completed a previously announced transaction whereby it recapitalized its existing common stock into three new tracking stocks: the Â鶹app Braves common Stock, the Â鶹app Media common Stock and the Â鶹app SiriusXM common Stock (the “recapitalization”). In the recapitalization, each issued and outstanding share of Â鶹app’s existing common stock was reclassified and exchanged for (a) 1 share of the corresponding series of Â鶹app SiriusXM common stock, (b) 0.1 of a share of the corresponding series of Â鶹app Braves common stock and (c) 0.25 of a share of the corresponding series of Â鶹app Media common stock.
Â鶹app 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 Â鶹app SiriusXM common stock |
LSXMA |
|
Series B Â鶹app SiriusXM common stock |
LSXMB |
|
Series C Â鶹app SiriusXM common stock |
LSXMK |
|
Series A Â鶹app Media common stock |
LMCA |
|
Series C Â鶹app Media common stock |
LMCK |
|
Series A Â鶹app Braves common stock |
BATRA |
|
Series C Â鶹app Braves common stock |
BATRK |
|
OTC Markets |
|
|
Tracking Stock |
Symbol |
|
Series B Â鶹app Media common stock |
LMCB |
|
Series B Â鶹app Braves common stock |
BATRB |
About Â鶹app
Â鶹app (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 Â鶹app Braves Group, the Â鶹app Media Group and the Â鶹app SiriusXM Group. The businesses and assets attributed to the Â鶹app SiriusXM Group include our interest in SiriusXM. The businesses and assets attributed to the Â鶹app Braves Group include our subsidiary Braves Holdings, LLC. The businesses and assets attributed to the Â鶹app Media Group consist of all of Â鶹app's businesses and assets other than those attributed to the Â鶹app Braves Group and Â鶹app 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.
Â鶹app
Courtnee Chun, 720-875-5420
Source: Â鶹app
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