Â鶹app Media Reports Appeal in Indenture Litigation
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Â鶹app ("Â鶹app") (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 Â鶹app Capital and Â鶹app Starz tracking stock groups will not constitute a disposition of all or substantially all the assets of Â鶹app Media, LLC under the indenture governing its public indebtedness. Â鶹app 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 Â鶹app can complete the Split-Off under the terms of Â鶹app's charter without seeking another vote of the Â鶹app Capital and Â鶹app 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 Â鶹app's proxy statement.
About Â鶹app
Â鶹app 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 Â鶹app Interactive group (Nasdaq: LINTA, LINTB), which includes Â鶹app Media's interests in QVC, Provide Commerce, Backcountry.com, Celebrate Interactive, Bodybuilding.com and Expedia, (2) the Â鶹app Starz group (Nasdaq: LSTZA, LSTZB), which includes Â鶹app Media's interest in Starz, LLC, and (3) the Â鶹app 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., Â鶹app 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 Â鶹app's tracking stocks. The offer and sale of shares in the proposed split-off will only be made pursuant to Â鶹app CapStarz, Inc.'s effective registration statement (f/k/a Â鶹app Splitco, Inc.). Â鶹app stockholders and other investors are urged to read the Form S-4 registration statement on file with the SEC, including Â鶹app's proxy statement/prospectus contained therein, because they contain important information about the split-off. Copies of Â鶹app's and Â鶹app 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 Â鶹app, 12300 Â鶹app Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5408.
Source: Â鶹app
Released June 7, 2011