Overview:

Liberty Media Corp. spun off Liberty Sirius XM and Liberty Braves, and then reorganized Liberty Media Corp. to Liberty Media Group. The net effect and for ease of entry is to spinoff Liberty Sirius XM and Liberty Braves from Liberty Media Corp, followed by a name change of Liberty Media Corp to Liberty Media Group, and ending with a reverse stock split. Liberty Media Group will retain the ticker symbol of Liberty Media Corp.

The cost basis allocation information from IRS form 8937 was found on Liberty Media web site.

The SEC filing for this reorganization is Form S-4, dated 12/22/15, and was found through the Liberty Media Group web site.

General Steps:

This action requires 2 spinoff transactions in the accounting software. The information below is based on the information available from the cost basis allocation information on the Liberty Media Group web site. In addition, the change from Liberty Media Corp to Liberty Media Group will require a reverse stock split.

Entries:

Liberty Media performed these transactions for three classes of shares, Class A, Class B, and Class C.

While the general steps do not change from one class to the next, some of the numbers used in the spinoff do change. As such, the steps for each class are written out separately. Please click the entry below for whichever Class of Liberty Media shares your club had prior to this transaction. If your club held more than one Class of shares (LMCA, LMCB, LMCK), please make sure to check the listings below for each Class that the club held.

Steps for Class A shares (LMCA)

First Spinoff Entry

• Date: 4/15/2016
• Select Parent Security (or Parent Company) : Liberty Media class A (LMCA)
• Remaining Basis Percentage: 21.65
• Cash received: See your broker statement for cash-in-lieu received
• Spinoff Security (or Symbol of New Company) : Liberty Sirius XM class A (LSXMA)
• Shares received : 1.0 x (# of LMCA shares owned) (Remember to include fractional shares.)
  For example, if you owned 100 LMCA shares, you should receive 1.0 x 100 = 100 LSXMA shares.
• Price Per Share : 31.00 (Average of High and low on 1^st trading date)

Save the transaction and the spinoff has been entered.

Second Spinoff Entry

• Date: 4/16/2016
• Select Parent Security (or Parent Company) : Liberty Media class A (LMCA)
• Remaining Basis Percentage: 67.42
• Cash received: See your broker statement for cash-in-lieu received
• Spinoff Security (or Symbol of New Company) : Liberty Braves class A (BATRA)
• Shares received : 0.1 x (# of LMCA shares owned) (Remember to include fractional shares.)
  For example, if you owned 100 LMCA shares, you should receive 0.1 x 100 = 10 BATRA shares.
• Price Per Share : 27.93 (Average of High and low on 1^st trading date)

Save the transaction and the spinoff has been entered.

The Reverse Split

• Date: 4/17/2016
• Company: Liberty Media Corp class A (LMCA)
• Split Ratio: 1 for 4
• Cash: See your broker statement for cash-in-lieu received.

Steps for Class B shares (LMCB)

First Spinoff Entry

• Date: 4/15/2016
• Select Parent Security (or Parent Company) : Liberty Media class B (LMCB)
• Remaining Basis Percentage: 21.65
• Cash received: See your broker statement for cash-in-lieu received
• Spinoff Security (or Symbol of New Company) : Liberty Sirius XM class B (LSXMB)
• Shares received : 1.0 x (# of LMCB shares owned) (Remember to include fractional shares.)
  For example, if you owned 100 LMCB shares, you should receive 1.0 x 100 = 100 LSXMB shares.
• Price Per Share : 31.00 (Average of High and low on 1^st trading date)

Save the transaction and the spinoff has been entered.

Second Spinoff Entry

• Date: 4/16/2016
• Select Parent Security (or Parent Company) : Liberty Media class B (LMCB)
• Remaining Basis Percentage: 67.42
• Cash received: See your broker statement for cash-in-lieu received
• Spinoff Security (or Symbol of New Company) : Liberty Braves class B (BATRB)
• Shares received : 0.1 x (# of LMCB shares owned) (Remember to include fractional shares.)
  For example, if you owned 100 LMCB shares, you should receive 0.1 x 100 = 10 BATRB shares.
• Price Per Share : 27.93 (Average of High and low on 1^st trading date)

Save the transaction and the spinoff has been entered.

The Reverse Split

• Date: 4/17/2016
• Company: Liberty Media Corp class B (LMCB)
• Split Ratio: 1 for 4
• Cash: See your broker statement for cash-in-lieu received.

Steps for Class C shares (LMCK)

Renaming Liberty Media Corp. to Liberty Media Group:

• When signed in to myiclub.com, click the ACCOUNTING tab near the top of the page.
• Click the SECURITIES heading on the left hand side of the page.
• Click either SECURITY SETTINGS on the left hand side of the page, or UPDATE SECURITY SETTINGS near the top of the page.
• On the security Settings page, click the Pencil/EDIT button next to the listing for Liberty Media.
• On the following page, change the Company name to Liberty Media Group.
• Note that there is a box titled Symbol, and a box titled Quote Symbol near the bottom of the page. If you would like the ticker to display a short name on the main accounting page, enter the short name in the Symbol box, and the true ticker symbol in the Quote Symbol box. If not, enter the same ticker symbol in both boxes.
• Click the SUBMIT button near the bottom right-hand corner of the page to save any changes.