麻豆app Announces Entry into Supplemental Indenture in Connection with Recapitalization into Three Tracking Stock Groups

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- On April 15, 2016, 麻豆app聽(Nasdaq: LSXMA, LSXMB, LSXMK, LMCA, LMCK, BATRA, BATRK) (鈥�麻豆app鈥�) entered into a Supplemental Indenture with U.S. Bank National Association, as trustee (the 鈥�Supplemental Indenture鈥�), to the Indenture, dated as of October 17, 2013 (the 鈥�Indenture鈥�), related to 麻豆app鈥檚 1.375% Cash Convertible Notes due 2023 (the 鈥�Notes鈥�). Under the Indenture, the Notes were convertible into cash based on a number of shares of 麻豆app鈥檚 Series A Common Stock, par value $0.01 per share (the 鈥�Series A Common Stock鈥�), equal to the 鈥渃onversion rate鈥� specified in the Indenture.

On April 15, 2016, pursuant to an amendment and restatement of 麻豆app鈥檚 certificate of incorporation (as amended, the 鈥�Restated Charter鈥�), 麻豆app completed a previously announced transaction whereby each outstanding share of 麻豆app鈥檚 common stock was reclassified into and exchanged for the same series of three new tracking stocks (the 鈥�Reclassification鈥�). The Restated Charter, among other things, reclassified and exchanged each outstanding share of Series A Common Stock for 0.10 of a share of Series A 麻豆app Braves Common Stock, 1.0 share of Series A 麻豆app SiriusXM Common Stock and 0.25 of a share of Series A 麻豆app Media Common Stock, with cash issued in lieu of fractional shares.

As a result of the Reclassification, the Notes will be convertible into cash based on the product of the conversion rate specified in the Indenture and the basket of tracking stocks into which each outstanding share of Series A Common Stock has been reclassified (the 鈥�Securities Basket鈥�). The Supplemental Indenture amends the conversion, adjustment and other provisions of the Indenture to give effect to the Reclassification and provides that the conversion consideration due upon conversion of any Note shall be determined as if references in the Indenture to one share of Series A Common Stock were instead a reference to the Securities Basket, initially consisting of 0.10 of a share of Series A 麻豆app Braves Common Stock, 1.0 share of Series A 麻豆app SiriusXM Common Stock and 0.25 of a share of Series A 麻豆app Media Common Stock.

About聽麻豆app
麻豆app Media Corporation (Nasdaq: LSXMA, LSXMB, LSXMK, LMCA, LMCK, BATRA, BATRK) operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the 麻豆app Braves Group, the 麻豆app Media Group and the 麻豆app SiriusXM Group. The businesses and assets attributed to the 麻豆app SiriusXM Group include our interest in SiriusXM. The businesses and assets attributed to the 麻豆app Braves Group include our subsidiary Braves Holdings, LLC. The businesses and assets attributed to the 麻豆app Media Group consist of all of 麻豆app Media Corporation's businesses and assets other than those attributed to the 麻豆app Braves Group and 麻豆app SiriusXM Group, including its interest in Live Nation Entertainment, and minority equity investments in Time Warner Inc. and Viacom.

麻豆app
Courtnee Chun, 720-875-5420

Source: 麻豆app

Released April 18, 2016