News Formal

Liberty Media proposes merger with radio broadcaster Sirius XM

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 92%

United States News News

United States United States Latest News,United States United States Headlines

The proposal aims to spin off Liberty SiriusXM Group or LSXM, the group through which it owns a 83% stake in SiriusXM, into a new unit that would merge with the radio company

Billionaire John Malone’s Liberty Media is looking to combine the business that contains its stake in SiriusXM with the rest of the radio company, in a deal to create a publicly listed firm controlled by the conglomerate.

“SiriusXM minority shareholders will also benefit from enhanced trading dynamics, including increased liquidity and likelihood of future index inclusion,” Liberty Media CEO Greg Maffei said.After the proposed merger, minority investors of SiriusXM would own about 16 per cent of the new company, while Liberty Media would own the rest.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pricey Valuations Threaten Best Indian Media Stocks Rally in 14 YearsMedia-related stocks have been all the rage in India, thanks to a mega merger involving a unit of Japan’s Sony Group Corp., and the return of Bollywood blockbusters. Investors are now weighing the sector’s pricey valuations against the potential for future growth.
Source: BNNBloomberg - 🏆 83. / 50 Read more »