OREANDA-NEWS. August 12, 2016. Liberty Media Corporation ("Liberty") (Nasdaq: LSXMA, LSXMB, LSXMK,
BATRA, BATRK, LMCA, LMCK) announced today that it intends to issue
senior debentures exchangeable for Time Warner Inc. ("Time Warner")
common stock in a private offering. The debentures will be exchangeable
at the option of holders. Upon an exchange of debentures, Liberty, at
its option, may deliver Time Warner common stock, cash or a combination
of Time Warner common stock and cash. Liberty expects to use the net
proceeds of the offering to provide additional funds for our operations
and for general corporate purposes, including to make acquisitions.
The offering of the debentures will not be registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any state
securities laws and, unless so registered, the debentures may not be
offered or sold in the United States except pursuant to an exemption
from, or in a transaction not subject to, the registration requirements
of the Securities Act and applicable state securities laws. The
debentures will be offered by means of an offering memorandum solely to
"Qualified Institutional Buyers" pursuant to, and as that term is
defined in, Rule 144A of the Securities Act. This press release does not
constitute an offer to sell or the solicitation of an offer to buy the
debentures, nor shall there be any sale of debentures in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such state.
Forward-Looking Statements
This press release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to the intended launch of a private
offering of debentures and the use of proceeds therefrom. 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, general
market conditions. These forward looking statements speak only as of the
date of this press release, and Liberty expressly disclaims any
obligation or undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
Liberty's 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 Liberty, including its most
recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q,
for risks and uncertainties related to Liberty.
About Liberty Media Corporation
Liberty Media Corporation operates and owns interests in a broad range
of media, communications and entertainment businesses. Those businesses
are attributed to three tracking stock groups: the Liberty SiriusXM
Group, the Liberty Braves Group and the Liberty Media Group. The
businesses and assets attributed to the Liberty SiriusXM Group (Nasdaq:
LSXMA, LSXMB, LSXMK) include our interest in SiriusXM. The businesses
and assets attributed to the Liberty Braves Group (Nasdaq: BATRA, BATRK)
include our subsidiary Braves Holdings, LLC. The businesses and assets
attributed to the Liberty Media Group (Nasdaq: LMCA, LMCK) consist of
all of Liberty Media Corporation's businesses and assets other than
those attributed to the Liberty SiriusXM Group and the Liberty Braves
Group, including its interest in Live Nation Entertainment, and minority
equity investments in Time Warner Inc. and Viacom.
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