ENGLEWOOD, Colo., Jan. 5, 2011 /PRNewswire/ -- Liberty Media LLC
("Liberty"), a subsidiary of Liberty Media Corporation (Nasdaq:
LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB), announced an adjustment
to the number and type of shares into which its 3.5% Senior
Exchangeable Debentures due in 2031 (the "Debentures") are
exchangeable. As a result of Motorola Inc.'s separation of
Motorola Mobility Holdings, Inc. (NYSE: MMI) in a 1 for 8 stock
distribution, and the subsequent 1 for 7 reverse stock split of
Motorola, Inc. (which has been renamed Motorola Solutions, Inc.
(NYSE: MSI)), effective January 4,
2011, the reference shares attributable to each Debenture
will consist of 5.2598 shares of Motorola Solutions and 4.6024
shares of Motorola Mobility Holdings. Holders of the
Debentures are entitled, upon exchange, to the exchange market
value of the reference shares. Liberty may pay the exchange
market value in cash, by delivering the reference shares, or in a
combination of cash and reference shares.
The adjustments described above, which are required by the terms
of the governing indenture, will not affect the amount of the
semi-annual interest payments received by holders of the
debentures, which will continue to be a rate of interest equal to
3.5% per annum of the original principal amount of the
debentures.
About Liberty Media LLC
Liberty Media LLC is an intermediate holding company of Liberty
Media Corporation, owning interests in a broad range of electronic
retailing, media, communications, and entertainment businesses.
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Contact:
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Liberty Media
Corporation
Courtnee Ulrich
720-875-5420
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SOURCE Liberty Media LLC