Liberty Media Corporation Announces Completion of Final Closing Under $500 Million Repurchase Agreement with SiriusXM
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 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
Source: Liberty Media Corporation
Released April 28, 2014