ENGLEWOOD, Colo.--(BUSINESS WIRE)--
Liberty Media Corporation (Nasdaq: LMCA and LMCB) ("Liberty") has been
advised by Nasdaq that, in connection with Liberty's upcoming spin-off
(the "Spin-Off") of its wholly owned subsidiary Liberty Spinco, Inc.
("Spinco") (which, following the Spin-Off, will hold the businesses,
assets and liabilities of Liberty not associated with Starz, LLC),
shares of Spinco's Series A and Series B common stock will trade on a
when-issued basis on the Nasdaq Global Select Market under the symbols
"LMCAV" and "LMCBV," respectively, on January 10, 2013 and January 11,
2013. Shares of Spinco common stock are expected to be issued in the
Spin-Off, which will be effected through the distribution (the
"Distribution") of shares of Spinco common stock to holders of record of
Liberty common stock at 5:00 p.m., New York City time, on January 10,
2013. However, because Nasdaq has established January 14, 2013 as the
ex-dividend date for the Distribution, and as a result of related "due
bill" trading procedures, persons acquiring shares of Liberty common
stock in the market through January 11, 2013 will still receive shares
of Spinco common stock in the Distribution. Liberty expects to complete
the Distribution at 5:00 p.m., New York City time, on January 11, 2013.
The issuance of Spinco shares and the completion of the Spin-Off are
subject to certain conditions.
If the Spin-Off is completed, it is expected that Spinco's Series A and
Series B common stock will trade in the regular way on the Nasdaq Global
Select Market as follows:
Under the temporary symbols "LMCAD" and "LMCBD," respectively,
beginning on January 14, 2013.
Under the permanent symbols "LMCA" and "LMCB," respectively, beginning
on January 22, 2013.
Shortly prior to the Spin-Off, Liberty will change its name to "Starz"
and Spinco will change its name to "Liberty Media Corporation." As a
result of these name changes and Spinco's use of the "LMCA" and "LMCB"
trading symbols as described above, following the spin-off, Starz's
Series A and Series B Liberty Capital common stock will begin trading
under the new symbols "STRZA" and "STRZB," respectively, on the Nasdaq
Global Select Market on January 14, 2013. Prior to such time, however,
Liberty's Series A and Series B Liberty Capital common stock will
continue to trade under the symbols "LMCA" and "LMCB," respectively.
About Liberty Media Corporation
Liberty Media (Nasdaq: LMCA, LMCB) owns interests in a broad range of
media, communications and entertainment businesses, including its
subsidiaries Atlanta National League Baseball Club, Inc. and
TruePosition, Inc., its interests in Starz, LLC, SiriusXM, Live Nation
Entertainment and Barnes & Noble, and minority equity investments in
Time Warner Inc. and Viacom.
This press release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
including statements about the completion of our pending separation from
Starz LLC, the trading of our respective stocks, and other matters that
are not historical facts. These forward-looking statements involve many
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements, including
our ability to complete the separation as planned and reported. These
forward-looking statements speak only as of the date of this press
release, and Liberty Media expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
Liberty Media's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. Please refer to the publicly filed documents of Liberty Media,
including the most recent Forms 10-Q and 10-K, for additional
information about Liberty Media and about the risks and uncertainties
related to Liberty Media's business which may affect the statements made
in this press release.
Liberty Media Corporation
Courtnee Ulrich, 720-875-5420
Source: Liberty Media Corporation
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