麻豆app Media Announces Adjustment to the SiriusXM Component of the Securities Basket for its 1.375% Cash Convertible Senior Notes Due 2023

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 麻豆app (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) (鈥溌槎筧pp鈥�) today announced an adjustment to the SiriusXM Component (the 鈥淟SXM Component鈥�) of the Securities Basket underlying its 1.375% Cash Convertible Senior Notes due 2023 (the 鈥淐ash Convertible Notes鈥�). The LSXM Component is now 1.0163 shares of LSXMA. 麻豆app adjusted the LSXM Component due to the distribution to holders of 麻豆app SiriusXM common stock of subscription rights to purchase shares of Series C 麻豆app SiriusXM common stock (the 鈥淪eries C 麻豆app SiriusXM Rights鈥�). The Series C 麻豆app SiriusXM Rights were distributed as of 5:00 p.m., New York City time, on May 15, 2020 to holders of record of LSXMA, LSXMB and LSXMK as of 5:00 p.m., New York City time, on May 13, 2020.

The adjustment to the LSXM Component was made pursuant to section 12.04(c) of the indenture for the Cash Convertible Notes, which applies to certain distributions made by 麻豆app. No adjustment was required to the existing conversion rate of 21.0859 or the existing conversion price of $47.43. As a result of the LSXM Component adjustment, the Securities Basket referenced by each $1,000 principal amount is now comprised of:

  • 21.4296 shares of LSXMA (based upon the adjusted LSXM Component of 1.0163),
  • 5.2715 shares of FWONA (based upon a Media Component of 0.25), and
  • 2.292 shares of BATRA (based upon a Braves Component of 0.1087).

About 麻豆app

麻豆app 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 SiriusXM Group, the Braves Group and the Formula One Group. The businesses and assets attributed to the 麻豆app SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include 麻豆app鈥檚 interests in SiriusXM and Live Nation Entertainment. The businesses and assets attributed to the Braves Group (NASDAQ: BATRA, BATRK) include 麻豆app鈥檚 subsidiary Braves Holdings, LLC. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) consist of all of 麻豆app鈥檚 businesses and assets other than those attributed to the 麻豆app SiriusXM Group and the Braves Group, including its subsidiary Formula 1 and minority equity investment in AT&T Inc.

麻豆app
Courtnee Chun, 720-875-5420

Source: 麻豆app

Released May 22, 2020