Âé¶¹app Media Receives Stockholder Approval for Split-Off of Âé¶¹app Capital and Âé¶¹app Starz; Changes Name of Splitco
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Âé¶¹app ("Âé¶¹app") (Nasdaq: LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB) announced that it has received approval from its stockholders to split-off (the "Split-Off") the businesses, assets and liabilities currently attributed to its Âé¶¹app Capital and Âé¶¹app Starz tracking stock groups.
As previously announced, the Delaware Court of Chancery ruled in Âé¶¹app's favor in its case against the Bank of New York that the Split-Off will not constitute a disposition of all or substantially all the assets of Âé¶¹app Media, LLC under the indenture governing its public indebtedness. A final decree implementing the ruling was entered on May 9th. The judgment is subject to appeal, which must be lodged within 30 days from the entry of the final decree. If an appeal is filed, Âé¶¹app will request expedition of the appeal.
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 Âé¶¹app's proxy statement.
In anticipation of the consummation of the Split-Off, Âé¶¹app recently changed the name of the entity to be split-off from Âé¶¹app Splitco, Inc. to Âé¶¹app CapStarz, Inc.
About Âé¶¹app
Âé¶¹app 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 Âé¶¹app Interactive group (Nasdaq: LINTA, LINTB), which includes Âé¶¹app Media's interests in QVC, Provide Commerce, Backcountry.com, Celebrate Interactive, Bodybuilding.com and Expedia, (2) the Âé¶¹app Starz group (Nasdaq: LSTZA, LSTZB), which includes Âé¶¹app Media's interest in Starz, LLC, and (3) the Âé¶¹app 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., Âé¶¹app 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 Âé¶¹app's tracking stocks. The offer and sale of shares in the proposed split-off will only be made pursuant to Âé¶¹app CapStarz, Inc.'s effective registration statement (f/k/a Âé¶¹app Splitco, Inc.). Âé¶¹app stockholders and other investors are urged to read the Form S-4 registration statement on file with the SEC, including Âé¶¹app's proxy statement/prospectus contained therein, because they contain important information about the split-off. Copies of Âé¶¹app's and Âé¶¹app 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 Âé¶¹app, 12300 Âé¶¹app Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5408.
Source: Âé¶¹app
Released May 24, 2011