Liberty Media Corporation Announces Completion of Final Closing Under $500
Million Repurchase Agreement with SiriusXM
ENGLEWOOD, Colo. -- April 28, 2014
Liberty Media Corporation (“Liberty”) (Nasdaq: LMCA, LMCB) today announced the
completion of the final closing under the previously announced share
repurchase agreement, dated as of October 9, 2013, between Liberty and Sirius
XM Holdings Inc. (NASDAQ: SIRI) (“Sirius”). Pursuant to the agreement, Sirius
had agreed to repurchase $500 million of its common stock from Liberty as part
of Sirius’ share repurchase program. On April 25, 2014, Sirius purchased its
final installment of shares, equal to 92,888,561 shares, at a previously
established price per share of $3.66, for an aggregate purchase price of $340
million. For additional information about the terms and conditions of the
repurchase agreement, see Liberty’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on October 10, 2013.
About Liberty Media Corporation
Liberty Media Corporation owns interests in a broad range of media,
communications and entertainment businesses, including its subsidiaries Sirius
XM Holdings Inc., Atlanta National League Baseball Club, Inc. and
TruePosition, Inc., its interests in Charter Communications and Live Nation
Entertainment, and minority equity investments in Time Warner Inc., Time
Warner Cable, and Viacom.
Liberty Media Corporation
Courtnee Ulrich, 720-875-5420
Press spacebar to pause and continue. Press esc to stop.