On September 4, 2024, Liberty Media Corporation and Sirius XM Holdings Inc. announced the final exchange ratio for their upcoming transactions, which include a redemptive split-off and a 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 new entity, Sirius XM Holdings Inc. ('New Sirius'), with cash paid for any fractional shares. Following the split-off, at 6:00 p.m. on the same day, Radio Merger Sub, LLC, a subsidiary of New Sirius, will merge with Sirius XM, making it a wholly owned subsidiary of New Sirius. Sirius XM stockholders will receive 0.1 of...Show More

On September 4, 2024, Liberty Media Corporation and Sirius XM Holdings Inc. announced the final exchange ratio for their upcoming transactions, which include a redemptive split-off and a 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 new entity, Sirius XM Holdings Inc. ('New Sirius'), with cash paid for any fractional shares. Following the split-off, at 6:00 p.m. on the same day, Radio Merger Sub, LLC, a subsidiary of New Sirius, will merge with Sirius XM, making it a wholly owned subsidiary of New Sirius. Sirius XM stockholders will receive 0.1 of a share of New Sirius common stock for each share held, again with cash in lieu of fractional shares. The transactions will result in the creation of a new public company operating under the Sirius XM name and brand, with shares trading on Nasdaq under the ticker 'SIRI' starting September 10, 2024. Post-transaction, former Liberty SiriusXM common stockholders are expected to own approximately 81% of New Sirius, with the remaining 19% owned by former Sirius XM minority stockholders.