Liberty Media Proposes Merger With Sirius XM

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Liberty Media owns a roughly 83% stake in Sirius XM, whose holdings span satellite radio, podcasts and the Pandora audio-streaming service.

Liberty Media has proposed a deal to split off its shares of Sirius XM into a new, publicly traded subsidiary, which would then merge with Sirius XM.

Liberty Media said it has made an offer to Sirius XM’s board to split off its shares into a new subsidiary, called New SiriusXM. Current shareholders of the Liberty Sirius XM tracking stock group would receive shares of the new company.

 

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