Liberty Media Corp.on May 5 disclosed certain proposed terms for its proposed rights offering.
The offering is related to distribution of subscription rightsto holders of the company's series A, B and C Liberty Braves common stock to purchaseshares of its series C Liberty Braves common stock.
The proposed size of the rights offering will be $200 million,whereas the subscription price per series C Liberty Braves Right will be decidedbased on a 20% discount to the volume weighted trading price of the series C LibertyBraves common stock for the 18-trading day period ending May 11.
The proposed rights offering is expected to commence May 19 and,subject to extension, it will remain open for 20 trading days.
Liberty Media recently completedthe recapitalization of its existing common stock into three new tracking stockgroups: the Liberty Braves common stock, the Liberty Media common stock and theLiberty SiriusXM common stock.