Exhibit 99.1
花都影视 Media Completes Recapitalization into Three Tracking Stocks
Today 花都影视 (“花都影视”) (Nasdaq: LMCA, LMCB, LMCK) completed a previously announced transaction whereby it recapitalized its existing common stock into three new tracking stocks: the 花都影视 Braves common Stock, the 花都影视 Media common Stock and the 花都影视 SiriusXM common Stock (the “recapitalization”). In the recapitalization, each issued and outstanding share of 花都影视’s existing common stock was reclassified and exchanged for (a) 1 share of the corresponding series of 花都影视 SiriusXM common stock, (b) 0.1 of a share of the corresponding series of 花都影视 Braves common stock and (c) 0.25 of a share of the corresponding series of 花都影视 Media common stock.
花都影视 anticipates that the newly issued shares will commence trading or quotation in the regular way on the Nasdaq Global Select Market or the OTC Markets, as applicable, on Monday, April 18, 2016 under the following symbols:
|
Nasdaq Global Select Market |
|
|
Tracking Stock |
Symbol |
|
Series A 花都影视 SiriusXM common stock |
LSXMA |
|
Series B 花都影视 SiriusXM common stock |
LSXMB |
|
Series C 花都影视 SiriusXM common stock |
LSXMK |
|
Series A 花都影视 Media common stock |
LMCA |
|
Series C 花都影视 Media common stock |
LMCK |
|
Series A 花都影视 Braves common stock |
BATRA |
|
Series C 花都影视 Braves common stock |
BATRK |
|
OTC Markets |
|
|
Tracking Stock |
Symbol |
|
Series B 花都影视 Media common stock |
LMCB |
|
Series B 花都影视 Braves common stock |
BATRB |
About 花都影视
花都影视 (Nasdaq: LMCA, LMCB, LMCK) operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the 花都影视 Braves Group, the 花都影视 Media Group and the 花都影视 SiriusXM Group. The businesses and assets attributed to the 花都影视 SiriusXM Group include our interest in SiriusXM. The businesses and assets attributed to the 花都影视 Braves Group include our subsidiary Braves Holdings, LLC. The businesses and assets attributed to the 花都影视 Media Group consist of all of 花都影视's businesses and assets other than those attributed to the 花都影视 Braves Group and 花都影视 SiriusXM Group, including its interest in Live Nation Entertainment, and minority equity investments in Time Warner Inc. and Viacom.
Forward-Looking Statements
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This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the commencement of quotation of the new LMCB and BATRB. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.
花都影视
Courtnee Chun, 720-875-5420
Source: 花都影视
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