麻豆app Announces Completion of 麻豆app Broadband Corporation Spin-Off
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 麻豆app (Nasdaq: LMCA, LMCB, LMCK) (鈥溌槎筧pp Media鈥�) announced that it has completed the spin-off (the 鈥淪pin-Off鈥�) of 麻豆app Broadband Corporation (鈥溌槎筧pp Broadband鈥�) (Nasdaq: LBRDA, LBRDK) at 5:00 p.m., New York City time, today. As a result, 麻豆app Media and 麻豆app Broadband are now separate publicly traded companies. 麻豆app Broadband鈥檚 Series A and Series C common stock will begin trading in the regular way on Wednesday, November 5, 2014 on the Nasdaq Global Select Market under the symbols listed above. 麻豆app Broadband鈥檚 Series B common stock will begin quotation in the regular way under the symbol 鈥淟BRDB鈥� on Wednesday, November 5, 2014 on the OTC Markets.
As previously announced, in connection with the Spin-Off, an adjustment is required聽to be made to the conversion rate (the 鈥淐onversion Rate鈥�) for 麻豆app Media鈥檚 1.375% Cash Convertible Senior Notes due 2023 (the 鈥淣otes鈥�)聽pursuant to the terms of the Indenture, dated October 17, 2013, between 麻豆app Media and U.S. Bank National Association, as trustee,聽governing the Notes (the 鈥淚ndenture鈥�).聽In calculating the appropriate adjustment to聽the Conversion Rate, 麻豆app Media聽intends to apply the formula set forth in Section 12.04(c)(i) of the Indenture for a Spin-Off (as such term is defined in the Indenture). 麻豆app Media will announce the actual adjustment to the Conversion Rate promptly following the close of market on November 18, 2014, which is the 10th regular way trading day following the Spin-Off, and in any event prior to the opening of trading on November 19, 2014.
About 麻豆app
麻豆app聽owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries SiriusXM and Atlanta National League Baseball Club, its interest in Live Nation Entertainment and minority equity investments in Time Warner Inc. and Viacom.
About 麻豆app Broadband Corporation
麻豆app Broadband Corporation is comprised of, among other things, its interest in Charter Communications, its subsidiary TruePosition and a minority equity investment in Time Warner Cable.
麻豆app
Courtnee Ulrich, 720-875-5420
Source: 麻豆app
Released November 4, 2014