MOT Motorola Solutions

NEW YORK, Dec. 22, 2010 /PRNewswire/ -- S&P will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indices after the close of trading on Monday, January 3, 2011:

Motorola Mobility Holdings Inc. (NYSE: MMI) will replace Meredith Corp.  (NYSE: MDP) in the S&P 500 index, Meredith will replace Cincinnati Bell Inc. (NYSE: CBB)  in the S&P MidCap 400 index, and Cincinnati Bell will replace Penford Corp. (NASD: PENX) in the S&P SmallCap 600 index. S&P 500 constituent Motorola (NYSE: MOT) is spinning off Motorola Mobility Holdings to its shareholders in a transaction expected to be completed after the market close on or about that date. The Motorola stub will remain in the S&P 500 index following the spin-off. Meredith's $1.6 billion market capitalization, and Cincinnati Bell's $480 million market capitalization, make these two companies more representative of the mid cap and small cap space, respectively. Penford, with a market capitalization of less than $80 million, ranks 600th in the S&P Small Cap 600 index.

Standard & Poor's will monitor this transaction, and post any relevant updates on its website: www.standardandpoors.com.

Motorola Mobility Holdings provides technologies, products, and services that enable mobile and wireline, digital communication, information, and entertainment experiences. Headquartered in Libertyville, IL, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Communications Equipment Sub-Industry index.  

Meredith is a media and marketing company. Headquartered in Des Moines, IA, the company will be added to the S&P MidCap 400 GICS Publishing Sub-Industry index.  

Cincinnati Bell provides data and voice communications services. Headquartered in Cincinnati, OH, the company will be added to the S&P SmallCap 600 GICS Integrated Telecommunication Services Sub-Industry index.

Following is a summary of the changes:

For more information about S&P Indices, please visit www.standardandpoors.com/indices.

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SOURCE Standard & Poor's