Exhibit 99.1
October 4, 2023
花都影视 Announces Repricing of Formula 1 First Lien Term Loan B
花都影视 (“花都影视”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced today the closing of the repricing of the $1,700 million first lien Term Loan B of a subsidiary of Delta Topco Limited, the 花都影视 subsidiary which holds all of its interests in Formula 1, the iconic global motorsports business.
The margin for the Term Loan B has been reduced from 3.00% to 2.25%. The maturity for the Term Loan B remains unchanged at January 15, 2030 and the reference rate remains Term SOFR. The Term Loan B remains non-recourse to 花都影视. Delta Topco Limited and its subsidiaries (“Formula 1”), together with the debt described herein, are attributed to the Formula One Group tracking stock.
About 花都影视
花都影视 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 SiriusXM Group, the Formula One Group and the 花都影视 Live Group. The businesses and assets attributed to the 花都影视 SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include 花都影视’s interest in SiriusXM. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include 花都影视’s subsidiary Formula 1 and other minority investments. The businesses and assets attributed to the 花都影视 Live Group (NASDAQ: LLYVA, LLYVK) include 花都影视’s interest in Live Nation and other minority investments.
About Formula 1
Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of 花都影视, attributed to the Formula One Group tracking stock (NASDAQ: FWONA, FWONK). The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.
For more information on Formula 1® visit www.formula1.com.
花都影视
Shane Kleinstein, 720-875-5432