Liberty Media Corporation Completes Acquisition Of Liberty Satellite & Technology, Inc. ENGLEWOOD, Colo., Nov. 12 /PRNewswire-FirstCall/ -- Liberty Media Corporation (NYSE: L; LMC.B) announced today that it completed its previously announced acquisition of all the issued and outstanding shares of Liberty Satellite & Technology, Inc. (BULLETIN BOARD: LSTTA, LSTTB) ("LSAT") that it did not already own. Each LSAT stockholder, other than Liberty Media, will receive 0.2750 shares of Liberty Media Series A common stock for each share of LSAT Series A or Series B common stock held. Liberty Media will issue approximately 1.8 million shares of Liberty Media Series A common stock to the LSAT shareholders. The transaction was accomplished through a merger of Liberty Satellite Acquisition Co., a newly formed controlled subsidiary of Liberty Media, with and into LSAT, with LSAT as the surviving corporation in the merger. The merger was taxable to the LSAT shareholders. Liberty Satellite and Technology, Inc., known as LSAT, pursues strategic opportunities worldwide in the distribution of Internet data and other content via satellite and related businesses. Through its majority-owned subsidiary, On Command Corporation, LSAT is a leading provider of in-room movies, broadband access and other entertainment and business services to the hotel industry. LSAT also holds strategic ownership positions in a range of video programming, satellite-delivered broadband distribution and satellite communication businesses, including Wildblue Communications, Astrolink International, and Sky Latin America. LSAT is a consolidated subsidiary of Liberty Media Corporation. Liberty Media Corporation (NYSE: L; LMC.B) owns interests in a broad range of electronic retailing, video programming, broadband distribution, interactive technology services and communications businesses. Liberty Media and its affiliated companies operate in the United States, Europe, South America and Asia with some of the world's most recognized and respected brands, including QVC, Encore, STARZ!, Discovery, IAC/InterActiveCorp, and UnitedGlobalCom, Inc. DATASOURCE: Liberty Media Corporation CONTACT: Mike Erickson of Liberty Media Corporation, +1-877-772-1518; or John Beattie of Liberty Satellite & Technology, Inc., +1-720-875-6861

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