Liberty Media Corporation (Nasdaq: LMCA and LMCB) (“Liberty”) has been advised by Nasdaq that, in connection with Liberty’s upcoming spin-off (the “Spin-Off”) of its wholly owned subsidiary Liberty Spinco, Inc. (“Spinco”) (which, following the Spin-Off, will hold the businesses, assets and liabilities of Liberty not associated with Starz, LLC), shares of Spinco’s Series A and Series B common stock will trade on a when-issued basis on the Nasdaq Global Select Market under the symbols “LMCAV” and “LMCBV,” respectively, on January 10, 2013 and January 11, 2013. Shares of Spinco common stock are expected to be issued in the Spin-Off, which will be effected through the distribution (the “Distribution”) of shares of Spinco common stock to holders of record of Liberty common stock at 5:00 p.m., New York City time, on January 10, 2013. However, because Nasdaq has established January 14, 2013 as the ex-dividend date for the Distribution, and as a result of related “due bill” trading procedures, persons acquiring shares of Liberty common stock in the market through January 11, 2013 will still receive shares of Spinco common stock in the Distribution. Liberty expects to complete the Distribution at 5:00 p.m., New York City time, on January 11, 2013. The issuance of Spinco shares and the completion of the Spin-Off are subject to certain conditions.
If the Spin-Off is completed, it is expected that Spinco’s Series A and Series B common stock will trade in the regular way on the Nasdaq Global Select Market as follows:
- Under the temporary symbols “LMCAD” and “LMCBD,” respectively, beginning on January 14, 2013.
- Under the permanent symbols “LMCA” and “LMCB,” respectively, beginning on January 22, 2013.
Shortly prior to the Spin-Off, Liberty will change its name to “Starz” and Spinco will change its name to “Liberty Media Corporation.” As a result of these name changes and Spinco’s use of the “LMCA” and “LMCB” trading symbols as described above, following the spin-off, Starz’s Series A and Series B Liberty Capital common stock will begin trading under the new symbols “STRZA” and “STRZB,” respectively, on the Nasdaq Global Select Market on January 14, 2013. Prior to such time, however, Liberty’s Series A and Series B Liberty Capital common stock will continue to trade under the symbols “LMCA” and “LMCB,” respectively.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV