猫咪社区

猫咪社区 and Starz Announce Completion of Spin-Off

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 猫咪社区 (鈥溍ㄟ渖缜�鈥�) (Nasdaq: former LMCAV, former LMCBV, LMCAD, LMCBD) and Starz (Nasdaq: STRZA, STRZB) announced the completion of the spin-off (the 鈥淪pin-Off鈥�) of 猫咪社区 from Starz at 5:00 p.m., New York City time, today. As a result, 猫咪社区 and Starz are now separate publicly traded companies. As announced earlier, in connection with the Spin-Off, 猫咪社区 changed its name from 鈥溍ㄟ渖缜� Spinco, Inc.鈥� to 鈥溍ㄟ渖缜�,鈥� and Starz changed its name from 鈥溍ㄟ渖缜�鈥� to 鈥淪tarz.鈥� Both companies will begin trading regular way on The Nasdaq Stock Market, under the symbols listed above, on Monday, January 14, 2013.

Following the Spin-Off, 猫咪社区鈥檚 principal businesses and assets include its consolidated subsidiaries Atlanta National League Baseball Club, Inc. and TruePosition, Inc., equity affiliates Sirius XM Radio Inc. and Live Nation Entertainment, Inc. and minority investments in public companies such as Barnes & Noble, Inc., Time Warner Inc., Time Warner Cable Inc. and Viacom Inc.. Starz鈥� businesses and assets consist of those of Starz, LLC, its wholly owned subsidiary.

As a result of the Spin-Off, Christopher Albrecht, Irving Azoff, Derek Chang, Susan Lyne, Jeffrey Sagansky, Daniel Sanchez, Charles Tanabe and Robert Wiesenthal joined the board of directors of Starz, following the resignation of all of the former 猫咪社区 directors (other than Gregory Maffei, who remains a director of Starz). 猫咪社区鈥檚 board of directors currently consists of all of the directors who previously served on the board of directors of the former 猫咪社区 Media Corporation prior to the Spin-Off: John Malone, Gregory Maffei, Robert Bennett, Donne Fisher, Ian Gilchrist, Evan Malone, David Rapley, Larry Romrell and Andrea Wong.

Prior to the Spin-Off, Starz utilized cash on hand and borrowings under its bank credit facility and distributed an additional $1.2 billion to 猫咪社区 (previously, Starz had distributed $600 million to 猫咪社区). Starz has approximately $450 million available to borrow under its bank credit facility after this distribution.

Following the Spin-Off, 猫咪社区 will have approximately $450 million available under its stock repurchase program, and Starz will have approximately $400 million available under its stock repurchase program.

About 猫咪社区

猫咪社区 (Nasdaq: former LMCAV, former LMCBV, LMCAD, LMCBD) owns interests in a broad range of media, communications and entertainment