Liberty Media adjusts media component of 1.375% convertibles basket

By Wendy Van Sickle

Columbus, Ohio, July 20 – Liberty Media Corp. adjusted the media component of the securities basket underlying its 1.375% cash convertible senior notes due 2023, according to a news release.

The media component is now 0.2547 of a share of series A Liberty Formula One common stock.

The adjustment is the result of the distribution to holders of the series A Liberty Formula One common stock of 0.028960604 of a share of series C common stock of Atlanta Braves Holdings, Inc. per series A Liberty Formula One share.

The dividend was distributed on July 19 to holders of series A Liberty Formula One of record as of 5 p.m. ET on July 13.

The adjustment to the media component of the securities basket became effective immediately prior to the open of business on Thursday.

In addition, Liberty is in a valuation period following the previously announced split-off of Atlanta Braves Holdings that will adjust the conversion rate under the convertibles. After the valuation period, the effective date for the adjustment of the conversion rate will be the open of business on July 18.

Liberty Media is an Englewood, Colo.-based media, communications and entertainment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.