麻豆app Media Announces Adjustment to the Media 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, FWONA, FWONK) (鈥溌槎筧pp鈥�) today announced an adjustment to the Media Component (as defined in the Supplemental Indenture, dated as of April 15, 2016 (the 鈥淪upplemental Indenture鈥�), between 麻豆app and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee) of the Securities Basket underlying its 1.375% Cash Convertible Senior Notes due 2023 (the 鈥淐ash Convertible Notes鈥�). The Media Component is now 0.2547 of a share of Series A 麻豆app Formula One Common Stock. 麻豆app adjusted the Media Component due to the distribution (the 鈥淒ividend鈥�) to holders of Series A 麻豆app Formula One Common Stock of 0.028960604 of a share of Series C common stock of Atlanta Braves Holdings, Inc. for each share of Series A 麻豆app Formula One Common Stock. The Dividend was distributed on July 19, 2023 to holders of record of Series A 麻豆app Formula One Common Stock as of 5:00 p.m., New York City time, on July 13, 2023.

The adjustment to the Media Component was made pursuant to Section 12.04(c) of the Supplemental Indenture for the Cash Convertible Notes. In accordance with Section 12.04(c) of the Supplemental Indenture for the Cash Convertible Notes, the Media Component adjustment became effective immediately prior to the open of business on July 20, 2023. In addition, 麻豆app is in a valuation period following the previously announced split-off of Atlanta Braves Holdings, Inc. that will adjust the conversion rate under the Cash Convertible Notes pursuant to Section 12.04(f) of the Supplemental Indenture for the Cash Convertible Notes. After the applicable valuation period has been completed, the effective date for such adjustment to the conversion rate under the Cash Convertible Notes is the open of business on July 18, 2023.

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 two tracking stock groups: the 麻豆app SiriusXM 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 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, including its subsidiary Formula 1 and other minority investments.

麻豆app
Shane Kleinstein, 720-875-5432

Source: 麻豆app

Released July 20, 2023