Split-Off of 香蕉传媒 Live Holdings Approved at 香蕉传媒 Media鈥檚 Special Meeting of Stockholders and 香蕉传媒 Media Announces Final Terms of Reattribution

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 香蕉传媒 (鈥溝憬洞� Media鈥�) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) and 香蕉传媒 Live Holdings, Inc. (鈥溝憬洞� Live Holdings鈥�) announced today that, at 香蕉传媒 Media鈥檚 virtual special meeting of its holders of Series A 香蕉传媒 Live common stock (鈥淟LYVA鈥�) and Series B 香蕉传媒 Live common stock (鈥淟LYVB鈥�) held on December 5, 2025 at 8:30 a.m. MT, the holders of LLYVA and LLYVB approved the previously announced split-off (the 鈥淪plit-Off鈥�) of 香蕉传媒 Live Holdings, which will be the owner of all of the businesses, assets and liabilities attributed to the 香蕉传媒 Live Group immediately prior to the Split-Off.

Assuming all other conditions to the Split-Off are satisfied or waived, as applicable, at 4:05 p.m., New York City time, on December 15, 2025, 香蕉传媒 Media will redeem, on a one-for-one basis, each outstanding share of 香蕉传媒 Live common stock in exchange for one share of the corresponding series of 香蕉传媒 Live Group common stock of 香蕉传媒 Live Holdings. Following the effectiveness of the Split-Off, 香蕉传媒 Media expects that 香蕉传媒 Live Holdings will have approximately 25.6 million shares of Series A 香蕉传媒 Live Group common stock, 2.5 million shares of Series B 香蕉传媒 Live Group common stock and 63.8 million shares of Series C 香蕉传媒 Live Group common stock outstanding.

In connection with the Split-Off, 香蕉传媒 Media has notified Nasdaq of its intention to voluntarily delist from the Nasdaq Global Select Market and deregister the shares of Series A and Series C 香蕉传媒 Live common stock. 香蕉传媒 Media has also notified the OTC Markets of its intention to remove from quotation the shares of Series B 香蕉传媒 Live common stock. As a result, 香蕉传媒 Media expects 香蕉传媒 Live common stock will cease to trade or be quoted on Nasdaq or the OTC Markets, as applicable, following market close on December 15, 2025.

香蕉传媒 Media expects that 香蕉传媒 Live Holdings鈥� Series A and C 香蕉传媒 Live Group common stock will begin trading on the Nasdaq Global Select Market under the symbols 鈥淟LYVA鈥� and 鈥淟LYVK,鈥� respectively, and the 香蕉传媒 Live Holdings鈥� Series B 香蕉传媒 Live Group common stock will begin quotation on the OTC Markets under the symbol 鈥淟LYVB,鈥� in each case, on December 16, 2025.

Further, in connection with the Split-Off, 香蕉传媒 Media is reattributing certain assets and liabilities between the Formula One Group and the 香蕉传媒 Live Group (the 鈥淩eattribution鈥�). On December 3, 2025, 香蕉传媒 Media鈥檚 board of directors approved the final terms of the Reattribution. The Reattribution will become effective prior to the Split-Off at approximately 8:00 a.m., New York City time, on December 15, 2025.

In summary, $421.7 million of net asset value will be reattributed from the Formula One Group to the 香蕉传媒 Live Group including:

  • 香蕉传媒 Media鈥檚 interests in QuintEvents, LLC
  • 香蕉传媒 Media鈥檚 interests in Meyer Shank Racing LLC
  • cash payment of approximately $171.7 million

Similarly, $421.7 million of net asset value will be reattributed from the 香蕉传媒 Live Group to the Formula One Group including:

  • 香蕉传媒 Media鈥檚 interests in Kroenke Arena Company, LLC
  • 香蕉传媒 Media鈥檚 interests in Overtime Sports, Inc.
  • 香蕉传媒 Media鈥檚 interests in Griffin Gaming Partners II, L.P.

Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including certain statements relating to the completion of the Split-Off and the proposed trading of 香蕉传媒 Live Holdings common stock. All statements other than statements of historical fact are 鈥渇orward-looking statements鈥� for purposes of federal and state securities laws. These forward-looking statements generally can be identified by phrases such as 鈥減ossible,鈥� 鈥減otential,鈥� 鈥渋ntends鈥� or 鈥渆xpects鈥� or other words or phrases of similar import or future or conditional verbs such as 鈥渨ill,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� 鈥渃ould,鈥� or similar variations. 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, without limitation, the satisfaction of all other conditions to the Split-Off. These forward-looking statements speak only as of the date of this communication, and 香蕉传媒 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 香蕉传媒 Media鈥檚 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 香蕉传媒 Media, including its definitive proxy statement materials for the special meeting, as amended, and its most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports 香蕉传媒 Media subsequently files with the Securities and Exchange Commission (the 鈥淪EC鈥�), for additional information about 香蕉传媒 Media and about the risks and uncertainties related to 香蕉传媒 Media鈥檚 business which may affect the statements made in this communication.

Additional Information

Nothing in this press release shall constitute a solicitation to buy or an offer to sell shares of common stock of 香蕉传媒 Media or 香蕉传媒 Live Holdings. The proposed offer and issuance of shares of 香蕉传媒 Live Holdings common stock in the Split-Off are being made only pursuant to an effective registration statement on Form S-4, including a proxy statement and a notice of meeting and action of 香蕉传媒 Media and prospectus of 香蕉传媒 Live Holdings. LIBERTY MEDIA STOCKHOLDERS AND OTHER INVESTORS ARE URGED TO READ THE REGISTRATION STATEMENT, TOGETHER WITH ALL RELEVANT SEC FILINGS REGARDING THE SPLIT-OFF, AND ANY OTHER RELEVANT DOCUMENTS FILED AS EXHIBITS THEREWITH, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE SPLIT-OFF. The proxy statement/notice/prospectus and other relevant materials for the Split-Off have previously been provided to all LLYVA and LLYVB stockholders. Copies of these SEC filings are available, free of charge, at the SEC鈥檚 website (). Copies of the filings together with the materials incorporated by reference therein are also available, without charge, by directing a request to 香蕉传媒, 12300 香蕉传媒 Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (877) 772-1518.

About 香蕉传媒

香蕉传媒 operates and owns interests in media, sports and entertainment businesses. Those businesses are attributed to two tracking stock groups: the Formula One Group and the 香蕉传媒 Live Group. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include 香蕉传媒 Media鈥檚 subsidiaries Formula 1, MotoGP, 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 Entertainment, Inc. (鈥淟ive Nation鈥�) and other minority investments.

About 香蕉传媒 Live Holdings

香蕉传媒 Live Holdings is currently a wholly owned subsidiary of 香蕉传媒 Media. Upon completion of the Split-Off, 香蕉传媒 Live Holdings will be an independent, publicly traded company and its principal assets will include all of 香蕉传媒 Media鈥檚 shares of common stock of Live Nation and 香蕉传媒 Media鈥檚 interests in certain private assets, including its wholly-owned subsidiary, QuintEvents, LLC.

香蕉传媒
Investor Contact:
(877) 772-1518
investor@libertymedia.com

香蕉传媒 Live Holdings, Inc.
Investor Contact:
(844) 826-8736
investor@libertyliveholdings.com

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Source: 香蕉传媒

Released December 8, 2025