Widgetized Section

Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone

Liberty Media restructures

Back in November 2015, Liberty Media’s founder John Malone stated that he would be restructuring Liberty Media’s investments and holding, and converting them into tracking stocks. On April 15 he carried out his promise.

The result is a recapitalised trio of businesses: a Liberty Braves tracker, a Liberty Media tracker, and a SiriusXM tracking stock.

Shareholders, in a typically complex Malone move, will receive a variety of share swaps in the new entities.

The Liberty statement said: “In the recapitalization, each issued and outstanding share of Liberty’s existing common stock was reclassified and exchanged for (a) 1 share of the corresponding series of Liberty SiriusXM common stock, (b) 0.1 of a share of the corresponding series of Liberty Braves common stock and (c) 0.25 of a share of the corresponding series of Liberty Media common stock.”

Liberty said it 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.

You must be logged in to post a comment Login