麻豆最新出品 Announces Ex-Dividend Date, When-Issued Trading and Trading Symbol Information for Rights Offering, Provides Information Regarding Inter-Group Interest Adjustment

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 麻豆最新出品 (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK) (鈥溌槎棺钚鲁銎封��) announced today that Nasdaq has established May 19, 2016 as the ex-dividend date for the distribution of subscription rights (the 鈥淩ights Distribution鈥�) to purchase shares of 麻豆最新出品鈥檚 Series C 麻豆最新出品 Braves common stock (the 鈥淪eries C 麻豆最新出品 Braves Rights鈥�) in connection with its previously announced rights offering (the 鈥淩ights Offering鈥�). Therefore, as a result of 鈥渄ue bill鈥� trading procedures, those persons acquiring shares of 麻豆最新出品鈥檚 Series A, Series B and Series C 麻豆最新出品 Braves common stock in the market, and continuing to hold such shares, through May 18, 2016 will be entitled to receive Series C 麻豆最新出品 Braves Rights. 麻豆最新出品 expects that the Series C 麻豆最新出品 Braves Rights will trade on a when-issued basis on the Nasdaq Global Select Market under the symbol 鈥淏ATRV鈥� on May 18, 2016 and will begin trading in the regular way on the Nasdaq Global Select Market under the symbol 鈥淏ATRR鈥� on May 19, 2016.

For additional information on the Rights Offering, please see the prospectus included in 麻豆最新出品鈥檚 Registration Statement on Form S-3 filed with the Securities and Exchange Commission on May 18, 2016. The completion of the Rights Distribution remains subject to the satisfaction of certain conditions, and 麻豆最新出品 reserves the right to terminate the Rights Offering at any time prior to the expiration date of the Rights Offering, including prior to the Rights Distribution or the commencement of the Rights Offering.

As a result of the Rights Offering, the current 20% inter-group interest in the Braves Group attributed to the Media Group (the 鈥淚GI鈥�) will be adjusted. The equity percentage represented by the IGI will decrease as and when Rights are exercised in connection with the Rights Offering. However, under the terms of 麻豆最新出品鈥檚 restated certificate of incorporation, the number of notional 麻豆最新出品 Braves common stock shares representing the IGI will increase, with the result that the intrinsic value of the current IGI will remain the same as prior to the Rights Offering, assuming full exercise of the Rights. Below is an illustrative example of the adjustment that will occur. 麻豆最新出品 expects to announce the adjusted number of notional shares representing the IGI and the percentage represented by those notional shares once available.

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IGI Adjustment: Illustrative Example

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Notional shares representing IGI (equal to 20% equity interest in 麻豆最新出品 Braves Group as of April 15, 2016): 听 8,372,081
Total outstanding shares of 麻豆最新出品 Braves common stock as of record date 听 33,488,374
Assumed pre-Rights Offering price per share of BATRK (estimated using May 17, 2016 closing price): 听 $16.90
Subscription price per share: 听 $12.80
Distribution ratio 听 0.47
Maximum number of BATRK to be issued in the Rights Offering: 听 15,739,536
Assumed dividend value per share of 麻豆最新出品 Braves common stock (after giving effect to dilution): 听 $1.31
Assumed ex-dividend date trading price (i.e., pre-Rights Offering price minus per share dividend value): 听 $15.59
Notional dividend amount on notional number of IGI shares (i.e., per share dividend value multiplied by notional number of IGI shares): 听 $10,967,426
Number of notional share increase for IGI (i.e., notional dividend amount on IGI shares divided by assumed ex-divided trading price): 听 703,491
Adjusted notional shares representing IGI (i.e., original notional shares plus increase in notional shares, which would represent an approx. 15.6% of the post-Rights Offering equity of Braves Group): 听 9,075,572
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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 about the Rights Distribution and other matters that are not historical facts. 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, 麻豆最新出品鈥檚 ability to satisfy the conditions to the Rights Distribution and 麻豆最新出品鈥檚 ability to complete the Rights Offering. These forward-looking statements speak only as of the date of this presentation, and 麻豆最新出品 expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in 麻豆最新出品'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 麻豆最新出品, including the most recent Form 10-K and 10-Q, for additional information about 麻豆最新出品 and about the risks and uncertainties related to 麻豆最新出品's business which may affect the statements made in this presentation.

None of 麻豆最新出品, its board of directors or any committee of its board of directors is making any recommendation to rightsholders as to whether to exercise or sell their Series C 麻豆最新出品 Braves Rights. Rightsholders should carefully read the prospectus insofar as it relates to the Rights Offering before making any decisions with respect to their Series C 麻豆最新出品 Braves Rights.

About 麻豆最新出品

麻豆最新出品 operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the 麻豆最新出品 SiriusXM Group, the 麻豆最新出品 Braves Group and the 麻豆最新出品 Media Group. The businesses and assets attributed to the 麻豆最新出品 SiriusXM Group (Nasdaq: LSXMA, LSXMB, LSXMK) include our interest in SiriusXM. The businesses and assets attributed to the 麻豆最新出品 Braves Group (Nasdaq: BATRA, BATRK) include our subsidiary Braves Holdings, LLC. The businesses and assets attributed to the 麻豆最新出品 Media Group (Nasdaq: LMCA, LMCK) consist of all of 麻豆最新出品's businesses and assets other than those attributed to the 麻豆最新出品 Braves Group and 麻豆最新出品 SiriusXM Group, including its interest in Live Nation Entertainment, and minority equity investments in Time Warner Inc. and Viacom.

麻豆最新出品
Courtnee Chun, 720-875-5420

Source: 麻豆最新出品

Released May 18, 2016