Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 97

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 9C
Chunk 97
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 effect to the Formula E Acquisition as if it had been completed as of January 1, 2023. No effect has been given to the Telenet Wyre Transaction since it would not have had a significant impact on our results of operations during 2023. These pro forma amounts are not necessarily indicative of the operating results that would have occurred if the Formula E Acquisition had occurred on such date. The pro forma adjustments are based on certain assumptions that we believe are reasonable. Year ended December 31,20242023(unaudited)Revenue (in millions)$4,589.4 $4,384.3 Net earnings (loss) from continuing operations attributable to Liberty Global shareholders (in millions)$1,791.5 $(3,871.9)Basic earnings (loss) from continuing operations attributable to Liberty Global shareholders per share$4.89 $(9.10)Diluted earnings (loss) from continuing operations attributable to Liberty Global shareholders per share$4.78 $(9.10)Our consolidated statement of operations for the year ended December 31, 2024 includes revenue of $17.9 million and net loss of $20.0 million attributable to Formula E, excluding the share of results of affiliates, net, related to our previously held minority equity interest in Formula E.

(6)    Dispositions

Spin-offOn November 8, 2024, we completed the Spin-off, following a series of transactions that resulted in the transfer of the Sunrise Entities to an independent, separate publicly-traded Swiss company, Sunrise Communications AG. No gain or loss has been recognized in connection with the Spin-off.The Spin-off was accomplished through the distribution of Sunrise common shares, in the form of Sunrise American depository shares (ADSs), to Liberty Global shareholders (the Sunrise Distribution). Liberty Global shareholders received one Sunrise Class A ADS for every five Liberty Global Class A or Class C common shares and two Sunrise Class B ADSs for each Liberty Global Class B common share.In connection with the Spin-off, we entered into several agreements with Sunrise (the Spin-off Agreements). The following summarizes the material agreements:•A master separation agreement (the Master Separation Agreement), which provides for, among other things, the principal corporate transactions (including the internal restructuring) required to effect the Spin-off, certain conditions to the Spin-off and provisions governing the relationship between Liberty Global and Sunrise with respect to and resulting from the Spin-off;•A tax separation agreement (the Tax Separation Agreement), which