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MarketScreener Homepage  >  Equities  >  Nasdaq  >  The Liberty SiriusXM Group    LSXMK

THE LIBERTY SIRIUSXM GROUP

(LSXMK)
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LIBERTY MEDIA CORP : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

11/10/2020 | 05:13pm EST

Item 7.01. Regulation FD Disclosure.

On November 9, 2020 and November 10, 2020, Liberty Media Corporation (the "Company") announced the proposed offering and pricing, respectively, of $800 million aggregate principal amount of its 0.50% Exchangeable Senior Debentures due 2050 (the "Debentures") pursuant to an exemption under the Securities Act of 1933, as amended. The Company also granted to the initial purchasers an option to purchase additional Debentures with an aggregate principal amount of up to $120 million.

As of September 30, 2020, the Company beneficially owned approximately 33% of the issued and outstanding shares of Live Nation Entertainment, Inc. common stock ("Live Nation common stock"). Of the shares the Company beneficially owns, as of September 30, 2020, 53,745,033 have been pledged as collateral (such pledged shares, the "Pledged Live Nation Collateral") to secure obligations under a margin facility (the "Live Nation Margin Loan Facility") entered into by a special purpose subsidiary of the Company.

On November 9, 2020, the Live Nation Margin Loan Facility was amended to, among other things, extend the maturity date and the availability period until December 2022, decrease the borrowing capacity to $200,000,000, release a portion of the Pledged Live Nation Collateral, decrease the undrawn commitment fee to 0.50% per annum (based on the undrawn amount) and increase the interest rate on borrowings to LIBOR plus 2.00%. Based on the last reported sale price on the New York Stock Exchange for the Live Nation common stock of $64.36 per share on November 9, 2020, all but approximately 9 million shares of the Pledged Live Nation Collateral will be released.

This Current Report on Form 8-K and the press releases attached hereto as Exhibits 99.1 and 99.2 are being furnished to the Securities and Exchange Commission under Item 7.01 of Form 8-K in satisfaction of the public disclosure requirements of Regulation FD and shall not be deemed "filed" for any purpose.

Item 9.01. Financial Statements and Exhibits.




(d) Exhibits.



Exhibit No.   Description
  99.1          Press Release, dated November 9, 2020, regarding the proposed private
              offering.
  99.2          Press Release, dated November 10, 2020, regarding the pricing.
104           Cover Page Interactive Data File (formatted as Inline XBRL and
              contained in Exhibit 101)

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 7 890 M - -
Net income 2020 251 M - -
Net Debt 2020 10 045 M - -
P/E ratio 2020 104x
Yield 2020 -
Capitalization 13 656 M 13 656 M -
EV / Sales 2020 3,00x
EV / Sales 2021 2,84x
Nbr of Employees -
Free-Float 89,8%
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Technical analysis trends THE LIBERTY SIRIUSXM GROUP
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 5
Average target price 56,00 $
Last Close Price 39,87 $
Spread / Highest target 68,0%
Spread / Average Target 40,5%
Spread / Lowest Target 22,9%
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