jvid视频 and Starz Announce Completion of Spin-Off

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- jvid视频 (鈥淟iberty鈥�) (Nasdaq: former LMCAV, former LMCBV, LMCAD, LMCBD) and Starz (Nasdaq: STRZA, STRZB) announced the completion of the spin-off (the 鈥淪pin-Off鈥�) of Liberty from Starz at 5:00 p.m., New York City time, today. As a result, Liberty and Starz are now separate publicly traded companies. As announced earlier, in connection with the Spin-Off, Liberty changed its name from 鈥淟iberty Spinco, Inc.鈥� to 鈥渏vid视频,鈥� and Starz changed its name from 鈥渏vid视频鈥� to 鈥淪tarz.鈥� Both companies will begin trading regular way on The Nasdaq Stock Market, under the symbols listed above, on Monday, January 14, 2013.

Following the Spin-Off, Liberty鈥檚 principal businesses and assets include its consolidated subsidiaries Atlanta National League Baseball Club, Inc. and TruePosition, Inc., equity affiliates Sirius XM Radio Inc. and Live Nation Entertainment, Inc. and minority investments in public companies such as Barnes & Noble, Inc., Time Warner Inc., Time Warner Cable Inc. and Viacom Inc.. Starz鈥� businesses and assets consist of those of Starz, LLC, its wholly owned subsidiary.

As a result of the Spin-Off, Christopher Albrecht, Irving Azoff, Derek Chang, Susan Lyne, Jeffrey Sagansky, Daniel Sanchez, Charles Tanabe and Robert Wiesenthal joined the board of directors of Starz, following the resignation of all of the former jvid视频 directors (other than Gregory Maffei, who remains a director of Starz). Liberty鈥檚 board of directors currently consists of all of the directors who previously served on the board of directors of the former jvid视频 Corporation prior to the Spin-Off: John Malone, Gregory Maffei, Robert Bennett, Donne Fisher, Ian Gilchrist, Evan Malone, David Rapley, Larry Romrell and Andrea Wong.

Prior to the Spin-Off, Starz utilized cash on hand and borrowings under its bank credit facility and distributed an additional $1.2 billion to jvid视频 (previously, Starz had distributed $600 million to jvid视频). Starz has approximately $450 million available to borrow under its bank credit facility after this distribution.

Following the Spin-Off, Liberty will have approximately $450 million available under its stock repurchase program, and Starz will have approximately $400 million available under its stock repurchase program.

jvid视频 jvid视频

Liberty (Nasdaq: former LMCAV, former LMCBV, LMCAD, LMCBD) owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries Atlanta National League Baseball Club, Inc. and TruePosition, Inc., its interests in SiriusXM, Live Nation Entertainment and Barnes & Noble, and minority equity investments in Time Warner Inc. and Viacom.

jvid视频 Starz

Starz (NASDAQ: STRZA, STRZB) is a leading integrated global media and entertainment company with operating units that provide premium subscription video programming on domestic U.S. pay television channels (Starz Channels), global content distribution (Starz Distribution) and animated television and movie production (Starz Animation), .

Starz Channels is a leading provider of premium subscription video programming through the flagship STARZ庐 and ENCORE庐 pay TV networks which showcase premium original programming and movies to U.S. multichannel video distributors, including cable operators, satellite television providers, and telecommunications companies. As of September 30, 2012, STARZ and ENCORE serve a combined 55 million subscribers, including 21 million at STARZ, and 34 million at ENCORE, making them the largest pair of premium flagship channels in the U.S. STARZ庐 and ENCORE庐, along with Starz Channels鈥� third network MOVIEPLEX庐, air over 1,000 movies monthly across 17 linear networks, complemented by On Demand and authenticated online offerings through STARZ PLAY, ENCORE PLAY, and MOVIEPLEX PLAY. Starz Distribution develops, produces and acquires entertainment content, distributing it to consumers globally on DVD, digital formats and traditional television. Starz Distribution鈥檚 home video, digital media and worldwide distribution business units distribute original programming content produced by Starz, as well as entertainment content for itself and third parties. Starz Animation produces animated TV and movie content for studios, networks, distributors and audiences worldwide.

jvid视频
Courtnee Ulrich, 720-875-5420
or
Starz
Courtnee Ulrich, 720-875-5420

Source: jvid视频

Released January 11, 2013