On September 4, 2024, Sirius XM Holdings Inc. and Liberty Media Corporation announced the final exchange ratio for a significant corporate restructuring involving a redemptive split-off and merger. The split-off, scheduled for 4:05 p.m. on September 9, 2024, will see Liberty Media redeeming each outstanding share of its Series A, B, and C Liberty SiriusXM common stock for 0.8375 of a share of common stock of the newly formed Liberty Sirius XM Holdings Inc. ('New Sirius'). Following this, at 6:00 p.m. on the same day, Radio Merger Sub, LLC, a subsidiary of New Sirius, will merge with Sirius XM, with Sirius XM becoming a wholly owned subsidiary of New Sirius. Sirius XM stockholders will receive one-tenth of a share of New Sirius...Show More

On September 4, 2024, Sirius XM Holdings Inc. and Liberty Media Corporation announced the final exchange ratio for a significant corporate restructuring involving a redemptive split-off and merger. The split-off, scheduled for 4:05 p.m. on September 9, 2024, will see Liberty Media redeeming each outstanding share of its Series A, B, and C Liberty SiriusXM common stock for 0.8375 of a share of common stock of the newly formed Liberty Sirius XM Holdings Inc. ('New Sirius'). Following this, at 6:00 p.m. on the same day, Radio Merger Sub, LLC, a subsidiary of New Sirius, will merge with Sirius XM, with Sirius XM becoming a wholly owned subsidiary of New Sirius. Sirius XM stockholders will receive one-tenth of a share of New Sirius common stock for each share of Sirius XM, with cash paid in lieu of fractional shares. The newly named New SiriusXM expects its common stock to begin trading on Nasdaq under the ticker symbol 'SIRI' on September 10, 2024. The transactions are subject to the satisfaction of certain conditions. The press release also contains forward-looking statements regarding the timing and completion of the transactions.