Liberty Interactive owns interests in a broad range video and online commerce businesses including QVC, Provide Commerce, Backcountry.com, Celebrate Interactive, Bodybuilding.com, Evite, and Expedia.
Immediately prior to the September 2011 split-off that is discussed below, Liberty Interactive Corporation and Liberty Media Corporation underwent changes to their corporate names. Prior to the split-off, Liberty Interactive Corporation was named Liberty Media Corporation, and the entity today known as Liberty Media Corporation was named Liberty CapStarz, Inc. Management felt that these names would best reflect the businesses, assets and liabilities held by each entity following the September 2011 split-off. Through out these FAQs, we refer to the entity that existed as Liberty Media Corporation prior to the September 2011 split-off as Liberty Interactive Corporation or "the Company" and the entity formerly known as Liberty CapStarz, Inc. as Liberty Media Corporation.
Each holder of Liberty Media Corporation Series A common stock received 0.25 of a share of Liberty Interactive Series A common stock and 0.05 of a share of Liberty Capital Series A common stock for each share of old Liberty Series A common stock held; and Each holder of Liberty Media Corporation Series B common stock received 0.25 of a share of Liberty Interactive Series B common stock and 0.05 of a share of Liberty Capital Series B common stock for each share of old Liberty Series B common stock held.
With the reclassification of Liberty Capital in March 2008, each holder of Liberty Capital group Series A common stock received 4 shares of Liberty Entertainment Series A common stock and maintained existing holdings of Liberty Capital group Series A common stock.
Each holder of Liberty Capital group Series B common stock received 4 shares of Liberty Entertainment Series B common stock and maintained existing holdings of Liberty Capital group Series B common stock.
Shares of Liberty Interactive were not affected by the reclassification of the Liberty Capital common stock.
Each holder of Liberty Entertainment Series A common stock and Liberty Entertainment Series B common stock received 1 share of DIRECTV Class A common stock and retained .1 share of Liberty Starz Series A common stock.
The businesses and assets held by the Company are engaged in, or are ownership interests in companies that are engaged in, sales of goods and services primarily through television programming and the internet, and currently include our subsidiaries QVC and Provide Commerce and our interests in Expedia.
Prior to the September 2011 split-off as described below, the Company, previously known as Liberty Media Corporation, was the owner of all the businesses and assets that were attributed to the Liberty Capital, Liberty Interactive and Liberty Starz tracking stock groups. Its common equity was publicly traded as three tracking stocks. Those tracking stocks are intended to reflect the performance of three groups of businesses and assets: the Liberty Capital, Liberty Interactive and Liberty Starz groups. On May 9, 2006, shares of the Company were exchanged for shares of the Liberty Interactive and Liberty Capital tracking stocks and the old Liberty Media Corporation Series A and Series B shares, which traded under the L and LMC.B ticker symbols, ceased trading. Investors can no longer purchase L or LMC.B shares.
On March 3, 2008, holders of Liberty Capital tracking stock were issued shares of Liberty Entertainment tracking stock.
On November 20, 2009, holders of Liberty Entertainment tracking stock were issued shares of DIRECTV and Liberty Starz tracking stock. Liberty Entertainment Series A and Series B shares, which traded under the LMDIA and LMDIB ticker symbols, ceased trading.
On September 23, 2011, holders of the Company's Liberty Capital and Liberty Starz tracking stock were issued shares of the entity now known as Liberty Media Corporation in connection with the Company's split-off of its Liberty Capital and Liberty Starz tracking stock groups. In order to accomplish this, the Company redeemed all of the outstanding shares of its Liberty Capital and Liberty Starz common stock in exchange for shares of the Liberty Capital and Liberty Starz common stock of the entity now known as Liberty Media Corporation. Liberty Media, which was a wholly owned subsidiary of the Company at the time, was then split-off from the Company and now is a separate, publicly traded company.
The 2008 reclassification and issuance of the Liberty Interactive, Liberty Entertainment and Liberty Capital tracking stocks was structured not to be taxable to Liberty shareholders.
In November 20, 2009, shares of Liberty Entertainment were exchanged for shares of DIRECTV and the Liberty Starz tracking stock and the old Liberty Entertainment Series A and Series B shares ceased trading. Investors can no longer purchase LMDIA or LMDIB shares.
The September 23, 2011 split-off of the Liberty Capital and Liberty Starz tracking stock groups from the Company was structured not to be taxable to Liberty Capital, Liberty Starz and Liberty Interactive shareholders.
As a shareholder of L you should have received a letter of transmittal to submit with your shares. If you did not receive this document or have misplaced this document, please call Computershare, Liberty's transfer agent at (866) 367-6355 (toll free) or (781) 575-3580 and a customer service representative will be able to assist you. Shareholders of LCAPA on March 3, 2008, do not need to take any action to obtain their shares of Liberty Entertainment common stock. Holders of book-entry shares of Liberty Capital common stock will have their Liberty Entertainment shares credited to their accounts promptly following the closing. Holders of certificated shares of Liberty Capital common stock will receive certificates representing their shares of Liberty Entertainment common stock shortly following the closing. Shareholders of LMDIA on November 20, 2009, do not need to take any action to obtain their shares of DIRECTV and Liberty Starz common stock. Holders of book-entry shares of Liberty Entertainment common stock will have their DIRECTV and Liberty Starz shares credited to their accounts promptly following the closing. Holders of certificated shares of Liberty Entertainment common stock will receive certificates representing their shares of DIRECTV and Liberty Starz common stock shortly following the closing. Shareholders of LINTA on September 23, 2011 were not affected by the September 2011 split-off and therefore do not need to take any action with respect to their shares of Liberty Interactive common stock.
The Company's board of directors has authorized the repurchase of up to $740 million of its common stock. The Company reports its share repurchase activities on a quarterly basis.
Yes. The Company's annual meeting occurred on September 7, 2011. A web cast of the meeting can be found on the Events page under the Investors section of the web site.
Liberty Interactive Corporation financial statements can be found on our web site under the Investor Relations section or through the SEC section or at www.sec.gov.
To contact the Company's transfer agent, Computershare, please go to the Contact Us section or you can call them directly at either of the following numbers: (866) 367-6355 (toll free) or (781) 575-3580
We can add your name to one of our distribution lists, via our Contact Us page, you can view the Press Release section of this Web site or you can visit our Event Calendar pages on this Web site.
Liberty Media Corporation, which consists of its Liberty Capital tracking stock group (Nasdaq: LCAPA/LCAPB) and Liberty Starz track stock group (Nasdaq: LSTZA/LSTZB), Discovery Holding Company (Nasdaq: DISCA/DISCB) and Liberty Global (Nasdaq: LBTYA/LBTYK) are separate public companies and are not affiliated with Liberty Interactive.
Shares of Discovery Holding Company and Liberty Global were not affected by the issuance of the Liberty Interactive, Liberty Entertainment group and Liberty Capital tracking stocks.
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