Exhibit (a)(1)(J)
EMAIL TO EMPLOYEES REGARDING FINAL RESULTS OF TENDER OFFER
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Date:
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April 7, 2009 |
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Subject:
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Final Results of Stock Option Exchange Offer |
On March 9, 2009, Liberty Media Corporation (Liberty) initiated an exchange offer pursuant
to which eligible employees of QVC and BuySeasons were offered the opportunity to exchange all (but
not less than all) of their outstanding stock options to purchase shares of Series A Liberty
Interactive common stock (LINTA shares) with an exercise price greater than $7.00 in exchange for
new options to acquire LINTA shares.
The exchange offer expired at 5:00 p.m., Eastern Daylight Savings Time, on Monday, April 6,
2009. Pursuant to the exchange offer, eligible optionholders tendered, and Liberty accepted for
cancellation, eligible options to purchase an aggregate of 11,311,787 LINTA shares from 398
participants, representing approximately 99.73% of the total LINTA shares underlying options
eligible for exchange in the exchange offer. On Monday, April 6, 2009, after the cancellation of
the options accepted by Liberty in the exchange offer, Liberty granted to eligible optionholders
who participated in the exchange offer new options, consisting of market options to purchase
2,828,022 shares at an exercise price of $3.41 per share, which was the per share closing price of
LINTA shares as reported by The Nasdaq Global Select Market on April 6, 2009, and premium
options to purchase 2,828,022 shares at an exercise price of $6.00 per share.
Employees who participated in the exchange offer will receive a summary of the new options
granted to them in exchange for their tendered eligible options. In addition, Liberty will provide
employees who participated in the exchange offer with the stock option agreements with respect to
their new options as soon as practicable.