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èßäÉçÇø Media Announces Proposal to Acquire Barnes & Noble

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- èßäÉçÇø (Nasdaq: LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB) announced today that it has made a proposal to acquire Barnes & Noble Inc. for $17 per share in cash. Barnes & Noble is the established leader in bookselling and is at the forefront of the transition to digital, with a management team that has demonstrated expertise in operations and positioned the company for growth in a dynamic marketplace.

èßäÉçÇø's proposal, which contemplates that the acquisition will be structured as a merger, is subject to various conditions, including satisfactory financing and the participation of founding chairman Leonard Riggio, both in terms of his continuing equity ownership and his continuing role in management. èßäÉçÇø's equity ownership, which would be attributed to the èßäÉçÇø Capital group, is expected to be approximately 70% of Barnes & Noble. èßäÉçÇø expects that its cash contribution toward the purchase price, depending on the amount of financing that can be obtained, will be in the range of $500 million.

As previously announced, èßäÉçÇø plans to split-off the businesses, assets and liabilities currently attributed to the èßäÉçÇø Capital and èßäÉçÇø Starz tracking stock groups.

About èßäÉçÇø

èßäÉçÇø 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 èßäÉçÇø Interactive group (Nasdaq: LINTA, LINTB), which includes èßäÉçÇø Media's interests in QVC, Provide Commerce, Backcountry.com, Celebrate Interactive, Bodybuilding.com and Expedia, (2) the èßäÉçÇø Starz group (Nasdaq: LSTZA, LSTZB), which includes èßäÉçÇø Media's interest in Starz, LLC, and (3) the èßäÉçÇø 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., èßäÉçÇø Media's interest in SIRIUS XM Radio, Inc., and minority equity investments in Live Nation, Time Warner Inc. and Viacom.

Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about proposed transactions, including the proposed acquisition of Barnes & Noble and the pending split-off of the èßäÉçÇø Capital and èßäÉçÇø Starz tracking stock groups and other matters that are not historical facts. These forward-looking statements involve many risks and uncertain