Proposals Relating to the Acquisition of Formula 1 Approved at Ā鶹app Mediaā€™s Special Meeting of Stockholders

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Ā鶹app (ā€œĀ鶹app Mediaā€) (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK)Ā announced today that, at its special meeting of stockholders held on January 17, 2017 at 11:00 a.m.Ā MT, the holders of its common stock entitled to vote thereat approved (i) a proposal relating to the issuance of shares of Series C Ā鶹app Media common stock in connection with its pending acquisition of Formula 1 (the ā€œAcquisitionā€) and (ii) a proposal relating to the adoption of the amendment and restatement of Ā鶹app Mediaā€™s restated certificate of incorporation to effect the name change of the "Media Group" and the ā€œĀ鶹app Media Common Stockā€ to the "Formula One Group" and the "Ā鶹app Formula One Common Stock," respectively.

The closing of the Acquisition remains conditioned upon approval from the FƩdƩration Internationale de l'Automobile, the governing body of Formula 1. The Acquisition is still expected to close before the end of the first quarter in 2017.

Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the Acquisition and its expected timingĀ and other matters that are not historical facts. 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, including, without limitation, the satisfaction of the remaining condition to the Acquisition. These forward looking statements speak only as of the date of this press release, and Ā鶹app 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 Ā鶹app Mediaā€™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 Ā鶹app Media, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, for risks and uncertainties related to Ā鶹app Media's business which may affect the statements made in this press release.

AboutĀ Ā鶹app

Ā鶹appĀ operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: theĀ Ā鶹app SiriusXM Group, theĀ Braves GroupĀ and theĀ Ā鶹app Media Group. The businesses and assets attributed to theĀ Ā鶹app SiriusXM Group (Nasdaq: LSXMA, LSXMB, LSXMK) include Ā鶹app's interest inĀ SiriusXM. The businesses and assets attributed to theĀ Braves GroupĀ (Nasdaq: BATRA, BATRK) include Ā鶹app's subsidiaryĀ Braves Holdings, LLC. The businesses and assets attributed to theĀ Ā鶹app Media GroupĀ (Nasdaq: LMCA, LMCK) consist of all ofĀ Ā鶹app Media Corporation'sĀ businesses and assets other than those attributed to theĀ Ā鶹app SiriusXM GroupĀ and theĀ Braves Group, including its interests in Live Nation Entertainment and Formula 1, and minority equity investments in Time Warner Inc. and Viacom.

Ā鶹app
Courtnee Chun, 720-875-5420

Source: Ā鶹app

Released January 17, 2017