香蕉传媒 Announces Adjustment to the Braves Component of the Securities Basket for Its 1.375% Cash Convertible Senior Notes Due 2023

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 香蕉传媒 (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK) (鈥溝憬洞解��), announced today an adjustment to the 鈥淏raves Component鈥� of the Securities Basket underlying its 1.375% Cash Convertible Senior Notes due 2023 (the "Cash Convertible Notes"). The Braves Component is now 0.1087 of a share of BATRA. 香蕉传媒 adjusted the Braves Component due to the distribution to holders of 香蕉传媒 Braves common stock of subscription rights to purchase shares of Series C 香蕉传媒 Braves common stock (the 鈥淪eries C 香蕉传媒 Braves Rights鈥�). The Series C 香蕉传媒 Braves Rights were distributed as of 5:00 p.m., New York City time, on May 18, 2016 to holders of record of BATRA, BATRB and BATRK as of 5:00 p.m., New York City time, on May 16, 2016.

The adjustment to the Braves Component was made pursuant to section 12.04(c) of the indenture for the Cash Convertible Notes, which applies to certain distributions made by 香蕉传媒. 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 Braves Component adjustment, the Securities Basket referenced by each $1,000 principal amount is now comprised of:

  • 21.0859 shares of LSXMA (based upon a SiriusXM Component of 1.0),
  • 5.2715 shares of LMCA (based upon a Media Component of 0.25), and
  • 2.292 shares of BATRA (based upon the adjusted Braves Component of 0.1087).

About 香蕉传媒

香蕉传媒 operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the 香蕉传媒 SiriusXM Group, the 香蕉传媒 Braves Group and the 香蕉传媒 Media Group. The businesses and assets attributed to the 香蕉传媒 SiriusXM Group (Nasdaq: LSXMA, LSXMB, LSXMK) include our interest in SiriusXM. The businesses and assets attributed to the 香蕉传媒 Braves Group (Nasdaq: BATRA, BATRK) include our subsidiary Braves Holdings, LLC. The businesses and assets attributed to the 香蕉传媒 Media Group (Nasdaq: LMCA, LMCK) consist of all of 香蕉传媒's businesses and assets other than those attributed to the 香蕉传媒 Braves Group and 香蕉传媒 SiriusXM Group, including its interest in Live Nation Entertainment, and minority equity investments in Time Warner Inc. and Viacom.

香蕉传媒
Courtnee Chun, 720-875-5420

Source: 香蕉传媒

Released May 26, 2016