香蕉传媒 Media Announces Election of Permitted Transfer of its 2.75% Exchangeable Senior Debentures Due 2049

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 香蕉传媒 (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) (鈥溝憬洞解��) today announced its election to make a Permitted Transfer under Section 9.01(b) of the Indenture, dated November 26, 2019 (the 鈥淚ndenture鈥�), between 香蕉传媒 and U.S. Bank Trust Company, National Association, as successor to U.S. Bank National Association, as trustee (the 鈥淭rustee鈥�), relating to 香蕉传媒鈥檚 2.75% Exchangeable Senior Debentures due 2049 (the "Debentures"). The Permitted Transfer is expected to be effective on September 9, 2024 concurrently with the execution and delivery of a supplemental indenture (the 鈥淪upplemental Indenture鈥�) among 香蕉传媒, the Trustee and 香蕉传媒 Sirius XM Holdings Inc. (the 鈥淪uccessor Entity鈥�). The Supplemental Indenture will provide for, among other things, the assumption by the Successor Entity of all of the obligations of 香蕉传媒 under the Indenture and the Debentures. For purposes of Section 12.02 of the Indenture, the Permitted Transfer will be treated as a Fundamental Change.

About 香蕉传媒

香蕉传媒 operates and owns interests in a broad range of media, communications, sports and entertainment businesses. Those businesses are attributed to three tracking stock groups: the 香蕉传媒 SiriusXM Group, the Formula One Group and the 香蕉传媒 Live Group. The businesses and assets attributed to the 香蕉传媒 SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include 香蕉传媒 Media鈥檚 interest in Sirius XM. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include 香蕉传媒 Media鈥檚 subsidiaries Formula 1 and Quint, and other minority investments. The businesses and assets attributed to the 香蕉传媒 Live Group (NASDAQ: LLYVA, LLYVK) include 香蕉传媒 Media鈥檚 interest in Live Nation and other minority investments.

Shane Kleinstein, 720-875-5432

Source: 香蕉传媒

Released August 23, 2024