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Stock Market & Financial Investment News

News Breaks
January 3, 2014
16:38 EDTSIRI, LMCALiberty Media proposes to make Sirius XM subsidiary of company
Liberty Media (LMCA) announced that it has made a proposal to Sirius XM (SIRI) that outlines the terms by which Sirius public shareholders would become shareholders of Liberty in a tax-free transaction in which each share of Sirius common stock would be converted into 0.0760 of a new share of Liberty Series C common stock, and, immediately prior to such conversion, Liberty intends to distribute, on a 2:1 basis, shares of Liberty’s Series C common stock to all holders of record of Liberty’s Series A and B common stock to create a liquid trading market for Liberty’s Series C common stock. Upon the completion of the proposed transaction, Liberty expects that Sirius’ public shareholders would own approximately 39% of Liberty’s then-outstanding common stock. The proposed exchange ratio of 0.0760 would value Sirius common shares at approximately $3.68 per share based on closing prices of Liberty’s Series A shares on January 3. This exchange ratio represents a 4.5% premium to the exchange ratio implied by the closing prices of Liberty’s Series A and Sirius’ shares on January 2 and a 3.1% premium to the exchange ratio implied by the closing share prices of January 3.
News For LMCA;SIRI From The Last 14 Days
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April 17, 2015
14:06 EDTLMCADOJ lawyers leaning toward suit to block Comcast-TWC deal, Bloomberg says
Lawyers at the Justice Department’s antitrust division are leaning toward making a recommendation to file suit to block Comcast’s (CMCSA) proposed purchase of Time Warner Cable (TWC), according to Bloomberg, citing people familiar with the matter. Staff attorneys could submit their review to Renata Hesse, a deputy assistant attorney general for antitrust, as soon as next week, the report added. John Malone, the chairman of Liberty Media (LMCA), has previously said that Charter Communications (CHTR) would look to buy Time Warner Cable if its deal with Comcast falls through. Shares of Comcast are down 2.6% to $58.11 in afternoon trading after Bloomberg's report, while Time Warner Cable shares are down 5.6% to $149.30. Reference Link
April 14, 2015
07:13 EDTLMCALiberty Media management to meet with UBS
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April 13, 2015
07:22 EDTLMCAWave of media M&A may be on the way, WSJ says
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07:12 EDTLMCALiberty Media management to meet with UBS
Meeting to be held in Paris on April 13 hosted by UBS.

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