Liberty Media Corporation Update Regarding iHeartMedia, Inc.
June 22 2018 - 11:10AM
Business Wire
Liberty Media Corporation (“Liberty Media”) (NASDAQ: LSXMA,
LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) today provided the
following update on the proposed iHeartMedia, Inc. (“iHeart”)
equity investment:
Liberty Media withdrew its proposal for iHeart after reviewing
results which were below expectations and negatively impacted our
initial estimates of value. We remain open to future discussions as
iHeart proceeds with its reorganization.
About Liberty Media
Corporation
Liberty Media Corporation operates and owns interests in a broad
range of media, communications and entertainment businesses. Those
businesses are attributed to three tracking stock groups: the
Liberty SiriusXM Group, the Braves Group and the Formula One Group.
The businesses and assets attributed to the Liberty SiriusXM Group
(Nasdaq: LSXMA, LSXMB, LSXMK) include Liberty Media Corporation's
interest in SiriusXM. The businesses and assets attributed to the
Braves Group (Nasdaq: BATRA, BATRK) include Liberty Media
Corporation's subsidiary Braves Holdings, LLC. The businesses and
assets attributed to the Formula One Group (Nasdaq: FWONA, FWONK)
consist of all of Liberty Media Corporation's businesses and assets
other than those attributed to the Liberty SiriusXM Group and the
Braves Group, including its subsidiary Formula 1, its interest in
Live Nation Entertainment and minority equity investment in
AT&T Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20180622005417/en/
Liberty Media CorporationCourtnee Chun, 720-875-5420
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