Liberty Media Announces Adjustment to the Media Component of the Securities Basket for its 1.375% Cash Convertible Senior Notes Due 2023
21 7월 2023 - 5:15AM
Business Wire
Liberty Media Corporation (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA,
FWONK) (“Liberty”) today announced an adjustment to the Media
Component (as defined in the Supplemental Indenture, dated as of
April 15, 2016 (the “Supplemental Indenture”), between Liberty 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
“Cash Convertible Notes”). The Media Component is now 0.2547 of a
share of Series A Liberty Formula One Common Stock. Liberty
adjusted the Media Component due to the distribution (the
“Dividend”) to holders of Series A Liberty 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 Liberty Formula
One Common Stock. The Dividend was distributed on July 19, 2023 to
holders of record of Series A Liberty 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, Liberty 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 Liberty Media Corporation
Liberty Media Corporation operates and owns interests in a broad
range of media, communications and entertainment businesses. Those
businesses are attributed to two tracking stock groups: the Liberty
SiriusXM Group and the Formula One Group. The businesses and assets
attributed to the Liberty SiriusXM Group (NASDAQ: LSXMA, LSXMB,
LSXMK) include Liberty Media Corporation’s interests in SiriusXM
and Live Nation Entertainment. The businesses and assets attributed
to the Formula One Group (NASDAQ: FWONA, FWONK) consist of all of
Liberty Media Corporation’s businesses and assets other than those
attributed to the Liberty SiriusXM Group, including its subsidiary
Formula 1 and other minority investments.
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Liberty Media Corporation Shane Kleinstein, 720-875-5432
Liberty Media (NASDAQ:LSXMA)
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