John Malone Finishes Liberty Starz Monitoring Stock And Ups Share Repurchases

This can give Liberty Media Chairman John Malone along with other professionals a great deal to discuss later today at the organization’s annual dog-and-pony show for traders.Your decision toconvert Liberty Starz and Liberty Capital from monitoring stocks right into a single resource-based stockshould diminish the growingsense that Malonewas fattening up Starz for any large deal — possibly a purchase.The funnel continues to be trading heavily in original programming, and Liberty Starz just revealed a $1.5B credit facility.Janney Capital Marketplaces analyst Tony Wible states the Street “likely is going to be included the way it translates this news” from the alternation in Liberty Starz’ status. Meanwhile, Liberty’s $1.25B stock repurchase “should help ease (traders’) concern.” And hope springs eternal:Burns Tabak analyst David Joyce states that “in time we'd expect M&A activity with one of these assets to get again.” Here’s the organization’s release: ENGLEWOOD, Colo. — Liberty Media Corporation (Nasdaq: LCAPA, LCAPB, LSTZA, LSTZB) (Liberty) today introduced that it is board of company directors has all chosen to get rid of Libertys monitoring stock structure by transforming each share of their Liberty Starz common stock into .88129 of the share from the corresponding number of Liberty Capital common stock, good at 5:00 p.m., NY City time, on November 28, 2011 (the Conversion Date). Cash is going to be compensated instead of fractional shares. We're very happy to announce the mixture of Liberty Starz and Liberty Capital into an resource-backed security, stated Greg Maffei, Liberty Leader and Boss. The board of company directors determined it was the best proceed to boost the value for Liberty Capital and Liberty Starz investors by getting rid of the tracker discount, growing liquidity within the stock and developing a more powerful acquisition currency. Additionally, we lately required benefit of the attractive debt marketplaces to boost capital at Starz, and that we convey more possibilities to deploy it in a combined Liberty Media. The conversion of shares of Liberty Starz common stock is going to be effected pursuant to Article IV, Section A.2(b)(ii) of Libertys restated charter and can lead to the conversion of all the outstanding shares of Liberty Starz common stock around the Conversion Date unless of course, pursuant towards the restated charter, the board determines to terminate the Conversion just before the Conversion Date. The conversion doesn't need any pursuit by Libertys investors and can don't have any effect on the companies, liabilities and assets of Liberty. Following a conversion, Liberty may have two number of common stock, that will trade underneath the Nasdaq symbols LMCA and LMCB. Libertys board also going to boost the repurchase authorization for Liberty Capital common stock to $1.25 billion following a conversion. Holders of certificated shares of Liberty Starz common stock will get instructions of transmittal from Computershare Trust Company, N.A., with instructions regarding how to surrender their certificates formerly representing shares of Liberty Starz common stock for certificates representing shares from the corresponding number of Liberty Capital common stock. Certificated holders must surrender their stock certificates, plus a completed and duly performed letter of transmittal (and then any other documentation needed therefore), to Computershare, Corporate Actions, P.O. Box 43014, Providence, RI 02940-3014, to be able to receive certificates representing their Liberty Capital common stock shares. Regarding holders of Liberty Starz common stock locked in book-entry form, their accounts is going to be debited its their shares of Liberty Starz common stock and immediately credited using the relevant number and number of shares of Liberty Capital common stock around the Conversion Date.