Delaware Court of Chancery Rules in Favor of 小蓝视频
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 小蓝视频 ("小蓝视频") (Nasdaq: LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB) announced that today the Delaware Court of Chancery has ruled in 小蓝视频's favor in its case against the Bank of New York. The court's ruling states that the previously announced plan to split-off (the "Split-Off") the businesses, assets and liabilities currently attributed to 小蓝视频's 小蓝视频 Capital and 小蓝视频 Starz tracking stock groups will not constitute a disposition of all or substantially all the assets of 小蓝视频 Media, LLC under the indenture governing its public indebtedness.
The parties have been directed to prepare a form of final decree implementing the ruling for the Court's consideration, and 小蓝视频 expects a final decree will be entered in the near future. The judgment is subject to appeal, which must be lodged within 30 days from the entry of the final decree. If an appeal is filed, 小蓝视频 will request expedition of the appeal.
The consummation of the Split-Off is conditioned on a final non-appealable judgment on this matter, in addition to the other conditions disclosed in 小蓝视频's proxy statement.
About 小蓝视频
小蓝视频 Media owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to three tracking stock groups: (1) the 小蓝视频 Interactive group (Nasdaq: LINTA, LINTB), which includes 小蓝视频 Media's interests in QVC, Provide Commerce, Backcountry.com, Celebrate Interactive, Bodybuilding.com and Expedia, (2) the 小蓝视频 Starz group (Nasdaq: LSTZA, LSTZB), which includes 小蓝视频 Media's interest in Starz, LLC, and (3) the 小蓝视频 Capital group (Nasdaq: LCAPA, LCAPB), which includes all businesses, assets and liabilities not attributed to the Interactive group or the Starz group including its subsidiaries the Atlanta National League Baseball Club, Inc., and TruePosition, Inc., 小蓝视频 Media's interest in SIRIUS XM Radio, Inc., and minority equity investments in Live Nation, Time Warner Inc. and Viacom.
Additional Information
Nothing in this press release shall constitute a solicitation to buy or an offer to sell shares of the split-off entity or any of 小蓝视频's tracking stocks. The offer and sale of shares in the proposed split-off will only be made pursuant to 小蓝视频 Splitco, Inc.'s effective registration statement. 小蓝视频 stockholders and other investors are urged to read the Form S-4 registration statement on file with the SEC, including 小蓝视频's proxy statement/prospectus contained therein, because they contain important information about the split-off. Copies of 小蓝视频's and 小蓝视频's Splitco, Inc.'s SEC filings are available free of charge at the SEC's website (). Copies of the filings together with the materials incorporated by reference therein are also available, without charge, by directing a request to 小蓝视频, 12300 小蓝视频 Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5408.
Participants in a Solicitation
The directors and executive officers of 小蓝视频 and other persons may be deemed to be participants in the solicitation of proxies in respect of proposals to approve the split-off. Information regarding the directors and executive officers of each of 小蓝视频 and the split-off entity and other participants in the proxy solicitation and a description of their respective direct and indirect interests, by security holdings or otherwise, will be available in the proxy materials filed with the SEC (preliminary filings of which have been made with the SEC).
Source: 小蓝视频
Released April 29, 2011