Liberty Media Prices Private Offering of $444,614,000 of 2.25% Exchangeable Senior Debentures due 2046
Upon an exchange of debentures, Liberty, at its option, may deliver Time
Warner Inc. ("Time Warner") common stock, cash or a combination of Time
Warner common stock and cash. The number of shares of Time Warner common
stock attributable to a debenture represents an initial exchange price
of approximately
The offering is expected to close on
Liberty expects to use the net proceeds of the offering to provide additional funds for operations and for general corporate purposes, including to make acquisitions.
The debentures, as well as the associated cash proceeds, will be
attributed to the
The debentures have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), or any state securities laws
and, unless so registered, may not be offered or sold in
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 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.
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