Liberty Media shareholders approve purchase of F1

John Malone's Liberty is one step away from owning F1
John Malone's Liberty is one step away from owning F1

Liberty Media Corporation ("Liberty Media") (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK) announced today that, at its special meeting of stockholders held on January 17, 2017 at 11:00 a.m. MT, the holders of its common stock entitled to vote thereat approved (i) a proposal relating to the issuance of shares of Series C Liberty Media common stock in connection with its pending acquisition of Formula 1 (the "Acquisition") and (ii) a proposal relating to the adoption of the amendment and restatement of Liberty Media's restated certificate of incorporation to effect the name change of the "Media Group" and the "Liberty Media Common Stock" to the "Formula One Group" and the "Liberty Formula One Common Stock," respectively.

The closing of the Acquisition remains conditioned upon approval from the Federation Internationale de l'Automobile, the governing body of Formula 1. The Acquisition is still expected to close before the end of the first quarter in 2017.

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