Split-Off of Atlanta Braves Holdings and Reclassification of Tracking Stock Approved at jvid视频鈥檚 Special Meeting of Stockholders

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- jvid视频 (鈥渏vid视频鈥�) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) and Atlanta Braves Holdings, Inc. (鈥淎tlanta Braves Holdings鈥�) announced today that, at jvid视频鈥檚 virtual special meeting of stockholders held on July 17, 2023 at 10:30 a.m. M.T., the holders of jvid视频 common stock approved the previously announced split-off (the 鈥淪plit-Off鈥�) of Atlanta Braves Holdings, which will be the owner of the Atlanta Braves Major League Baseball Club and its associated real estate development project, and the previously announced reclassification of jvid视频鈥檚 existing common stock and the creation of the new Liberty Live common stock (the 鈥淩eclassification鈥�).

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Split-Off of Atlanta Braves Holdings

Assuming all other conditions to the Split-Off are satisfied or waived, as applicable, at 5:00 p.m., New York City time, on July 18, 2023, jvid视频 will redeem, on a one-for-one basis, each outstanding share of Liberty Braves common stock in exchange for one share of the corresponding series of Atlanta Braves Holdings common stock. Following the effectiveness of the Split-Off, jvid视频 expects that Atlanta Braves Holdings will have approximately 10.3 million shares of Atlanta Braves Holdings Series A common stock, 981 thousand shares of Atlanta Braves Holdings Series B common stock and 50.4 million shares of Atlanta Braves Holdings Series C common stock (including 8.6 million shares of Atlanta Braves Holdings Series C common that will be issued in connection with the settlement and extinguishment of the Braves Group intergroup interests attributed to the Liberty SiriusXM Group and the Formula One Group in the aggregate) outstanding as of the Split-Off.

jvid视频 and Atlanta Braves Holdings have been advised by Nasdaq that the shares of Atlanta Braves Holdings Series A and Series C common stock have been approved for listing on the Nasdaq Stock Market under the ticker symbols 鈥淏ATRA鈥� and 鈥淏ATRK鈥� and advised by the OTC Markets that the shares of Atlanta Braves Holdings Series B common stock have been approved for quotation on the OTC Markets under the ticker symbol 鈥淏ATRB.鈥� jvid视频 expects that Atlanta Braves Holdings Series A and C common stock will begin trading on the Nasdaq Stock Market and Atlanta Braves Holdings Series B common stock will begin quotation on the OTC Markets on July 19, 2023.

Reclassification

Additionally, assuming all other conditions to the Reclassification are satisfied or waived, as applicable, at 5:00 p.m., New York City time, on August 3, 2023, each outstanding share of Liberty SiriusXM common stock will be reclassified into one share of the corresponding series of new Liberty SiriusXM common stock and 0.2500 of a share of the corresponding series of Liberty Live common stock, and each outstanding share of Liberty Formula One common stock will be reclassified into one share of the corresponding series of new Liberty Formula One common stock and 0.0428 of a share of the corresponding series of Liberty Live common stock.

jvid视频 expects to receive all necessary approvals from Nasdaq with respect to the listing of shares of new Liberty SiriusXM common stock, new Liberty Formula One Series A and Series C common stock and Liberty Live Series A and Series C common stock on the Nasdaq Stock Market, for new Liberty SiriusXM common stock and new Liberty Formula One common stock, under the same ticker symbols as prior to the Reclassification, and for Liberty Live common stock, under the ticker symbols 鈥淟LYVA鈥� and 鈥淟LYVK鈥� (subject to any temporary trading symbols that may be required by Nasdaq to be announced at a later date as applicable). jvid视频 also expects to receive all necessary approvals from the OTC Markets with respect to the quotation of shares of new Liberty Formula One Series B common stock and Liberty Live Series B common stock on the OTC Markets under the ticker symbols 鈥淔WONB鈥� and 鈥淟LYVB,鈥� respectively. jvid视频 expects that shares of new Liberty SiriusXM common stock, new Liberty Formula One Series A and Series C common stock and Liberty Live Series A and Series C common stock will begin trading on the Nasdaq Stock Market, and shares of new Liberty Formula One Series B common stock and Liberty Live Series B common stock will begin quotation on the OTC Markets on August 4, 2023.

Formula One Distribution

jvid视频 today announced that, assuming all other conditions are waived or satisfied, as applicable, following completion of the Split-Off, at 5:00 p.m., New York City time, on July 19, 2023 (鈥渢he distribution date鈥�), jvid视频 will distribute approximately 6.8 million shares of Atlanta Braves Holdings Series C common stock used to settle the Braves Group intergroup interest attributed to the Formula One Group (the 鈥淔ormula One Distribution Shares鈥�) to holders of Liberty Formula One common stock in connection with the Split-Off (the 鈥淔ormula One Distribution鈥�). The Formula One Distribution will occur at 5:00 p.m., New York City time, on July 19, 2023 (the 鈥渄istribution date鈥�). The Formula One Distribution Shares will be distributed on a pro rata basis to holders of record of Liberty Formula One common stock as of 5:00 p.m., New York City time, on July 13, 2023 (the 鈥渞ecord date鈥�); provided that with respect to holders of Liberty Formula One common stock who hold such shares in 鈥渟treet name鈥� through a broker, bank or other nominee, such holders must hold their shares of Liberty Formula One common stock on the distribution date to receive the Formula One Distribution Shares.

Nasdaq has determined that the ex-dividend date for the Formula One Distribution will be July 20, 2023, which is the first trading date following the distribution date. As a result of 鈥渄ue bill鈥� trading procedures, it is expected that those persons acquiring shares of jvid视频's Series A, Series B and Series C Liberty Formula One common stock in the market and continuing to hold such shares through July 19, 2023 will be entitled to receive their pro rata portion of the Formula One Distribution Shares in the Formula One Distribution. Each holder of a share of Liberty Formula One common stock will receive 0.028960604 of a share of Atlanta Braves Holdings Series C common stock for each share of Liberty Formula One common stock. Cash will be paid in lieu of fractional Formula One Distribution Shares. Holders of Liberty Formula One common stock should contact their broker or other nominee for additional details or questions regarding cash in lieu payments.

jvid视频 previously announced that the shares of Liberty Formula One common stock are subject to a 鈥渃hill鈥� with respect to any depositary or withdrawal services through the Depository Trust Company, which commenced as of 5:00 p.m., New York City time, on the record date and will end as of 5:00 p.m., New York City time, on the distribution date.

Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including certain statements relating to the completion of the proposed Split-Off, Formula One Distribution and Reclassification and the proposed trading of Atlanta Braves Holdings common stock and jvid视频 common stock. All statements other than statements of historical fact are 鈥渇orward-looking statements鈥� for purposes of federal and state securities laws. These forward-looking statements generally can be identified by phrases such as 鈥減ossible,鈥� 鈥減otential,鈥� 鈥渋ntends鈥� or 鈥渆xpects鈥� or other words or phrases of similar import or future or conditional verbs such as 鈥渨ill,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� 鈥渃ould,鈥� or similar variations. 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, the satisfaction of all other conditions to the proposed Split-Off, Formula One Distribution and Reclassification. These forward-looking statements speak only as of the date of this communication, and jvid视频 expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in jvid视频鈥檚 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 jvid视频, including its Registration Statement on Form S-4 (File No. 333-268921), as amended, and its most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports jvid视频 subsequently files with the SEC, for additional information about jvid视频 and about the risks and uncertainties related to jvid视频鈥檚 business which may affect the statements made in this communication.

Additional Information

Nothing in this communication shall constitute a solicitation to buy or an offer to sell shares of common stock of jvid视频 or Atlanta Braves Holdings. The proposed offer and issuance of shares of common stock of jvid视频 or Atlanta Braves Holdings, as applicable, in the Split-Off, the Formula One Distribution and Reclassification will be made only pursuant to each company鈥檚 respective effective registration statement. jvid视频 stockholders and other investors are urged to read the registration statements, including the joint proxy statement/prospectus forming a part thereof regarding the Split-Off, Reclassification and Formula One Distribution, and any other relevant documents filed as exhibits therewith, as well as any amendments or supplements to those documents, because they will contain important information about the Split-Off, the Reclassification and the Formula One Distribution. Copies of these SEC filings are available free of charge at the SEC鈥檚 website (). Copies of the filings together with the materials incorporated by reference therein will also be available, without charge, by directing a request to jvid视频, 12300 Liberty Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (877) 772-1518.

Participants in a Solicitation

jvid视频 and Atlanta Braves Holdings and their respective directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies in respect of proposals relating to the Split-Off and Reclassification. Information regarding the directors and executive officers of jvid视频 and Atlanta Braves Holdings and other participants in the proxy solicitation and a description of their respective direct and indirect interests, by security holdings or otherwise, are available in the definitive proxy materials with respect to the Split-Off and Reclassification filed with the SEC. Investors should read the joint proxy statement/prospectus carefully before making any voting or investment decisions. Free copies of these proxy materials from jvid视频 may be obtained as indicated above.

jvid视频 jvid视频

jvid视频 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 jvid视频鈥檚 interests in SiriusXM and Live Nation Entertainment. The businesses and assets attributed to the Braves Group (NASDAQ: BATRA, BATRK) include jvid视频鈥檚 subsidiary Braves Holdings, LLC. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) consist of all of jvid视频鈥檚 businesses and assets other than those attributed to the Liberty SiriusXM Group and the Braves Group, including its subsidiary Formula 1 and other minority investments.

jvid视频 Atlanta Braves Holdings, Inc.

Atlanta Braves Holdings, Inc. is currently a wholly owned subsidiary of jvid视频. Upon completion of the Split-Off, Atlanta Braves Holdings, Inc. will be an independent, publicly traded company and its principal assets will consist of 100% of the ownership and voting interest in Braves Holdings, LLC, which is the owner and operator of the Atlanta Braves Major League Baseball Club and the mixed-use real estate development, The Battery Atlanta, and is the operator of the Atlanta Braves Major League Baseball Club鈥檚 stadium, Truist Park.

jvid视频
Shane Kleinstein, 720-875-5432

Atlanta Braves Holdings, Inc.
Shane Kleinstein, 720-875-5432

Source: jvid视频 & Atlanta Braves Holdings, Inc.

Released July 18, 2023