ENGLEWOOD, Colo., June 7 /PRNewswire-FirstCall/ -- Liberty Media Corporation (NYSE: L, LMCB) today announced that it has successfully completed the spin off of Liberty Media International, Inc. (LMI) through the distribution of all of the outstanding shares of LMI common stock to LMC stockholders of record on June 7, 2004. Liberty Media no longer has any ownership interest in LMI and LMI will begin trading regular way tomorrow, June 8, as an independent publicly-traded company on the NASDAQ National Market under the symbols LBTYA and LBTYB. In the spin off, each share of Liberty Media Corporation Series A and Series B common stock received 0.05 shares of the new Liberty Media International, Inc. Series A and Series B common stock, respectively. As previously announced by LMI on June 4, 2004, LMI has filed a registration statement with the Securities and Exchange Commission for a distribution it plans to make to its shareholders of transferable subscription rights to purchase shares of Series A and Series B common stock of LMI. The record date, subscription ratio and subscription price for the rights offering have not yet been determined. Liberty Media International, Inc. (Nasdaq: LBTYA, LBTYB) is a holding company owning interests in broadband distribution and content companies operating outside the U.S., principally in Europe, Asia, and Latin America. Through its subsidiaries and affiliates, LMI is the largest cable television operator outside the United States in terms of video subscribers. LMI's businesses include UnitedGlobalCom, Inc., Jupiter Telecommunications Co., Ltd., Jupiter Programming Co., Ltd., Liberty Cablevision of Puerto Rico, Inc. and Pramer S.C.A. Liberty Media Corporation (NYSE: L, LMC.B) is a holding company owning interests in a broad range of electronic retailing, media, communications and entertainment businesses classified in four groups; Interactive, Networks, Tech/Ventures and Corporate. Liberty Media's businesses include some of the world's most recognized and respected brands, including QVC, Encore, STARZ!, Discovery, IAC/InterActiveCorp, and The News Corporation Limited. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of Liberty Media common stock or LMI common stock. In addition, a registration statement with respect to the proposed LMI rights offering, relating to transferable subscription rights and shares of LMI common stock, has been filed with the Securities and Exchange Commission but has not yet become effective. The securities covered by the registration statement may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any State.
SOURCE Liberty Media Corporation