Turner Broadcasting System, Inc. and Subsidiaries - Page 10

                                       - 10 -                                         
               a.  MGM owed the banks $294,809,215 and owed the holders of            
          the MGM Notes approximately $400 million.                                   
               b.  Public shareholders (i.e., shareholders other than                 
          Kerkorian and Tracinda) owned 24,839,712 shares (49.9 percent) of           
          the 49,745,137 outstanding shares of stock of MGM.                          
               c.  Tracinda owned 22,973,585 shares (46.2 percent) of the             
          stock of MGM.                                                               
               d.  Kerkorian owned 1,931,840 shares (3.9 percent) of the              
          stock of MGM.                                                               
               e.  MGM owned all the UA stock, which had been recapitalized           
          to have the same number of outstanding shares as MGM.                       
               f.  TBS had raised $1,203,257,700 cash and had arranged to             
          issue 49,745,137 shares of TBS Preferred Stock.                             
               g.  Tracinda had received in escrow $64,533,655 from the               
          Subscribing Public on or prior to November 26, 1985, as the                 
          subscription price for 7,029,810 shares of UA stock they had                
          subscribed to purchase from Tracinda for $9.18 per share.10                 
               h.  The UA Executive Stock Purchase Agreements, pertaining             
          to the sale of 3,200,000 shares of UA stock to UA executives, had           
          been executed.                                                              





               10Tracinda bore the expenses of its offering of UA shares to           
          the subscribing public shareholders that were estimated to be               
          $1,265,365 ($.18 per share) in the UA Prospectus.                           




Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011