Sirius XM Holdings Inc. (SiriusXM), a Delaware corporation, has announced the approval of a major corporate restructuring involving Liberty Media Corporation and its subsidiaries. On August 23, 2024, shareholders of Liberty Media's Series A, B, and C Liberty SiriusXM common stock approved a redemption plan where each share will be exchanged for shares of SplitCo common stock, based on a predetermined exchange ratio. This approval is part of a larger set of transactions, including a reorganization agreement dated December 11, 2023, and a merger agreement involving SiriusXM and a subsidiary of SplitCo, with amendments to both agreements made on June 16, 2024. The transactions are scheduled to be finalized on September 9, 2024, with the split-off occurring at 4:05 p.m. and the merger at 6:00 p.m...Show More

Sirius XM Holdings Inc. (SiriusXM), a Delaware corporation, has announced the approval of a major corporate restructuring involving Liberty Media Corporation and its subsidiaries. On August 23, 2024, shareholders of Liberty Media's Series A, B, and C Liberty SiriusXM common stock approved a redemption plan where each share will be exchanged for shares of SplitCo common stock, based on a predetermined exchange ratio. This approval is part of a larger set of transactions, including a reorganization agreement dated December 11, 2023, and a merger agreement involving SiriusXM and a subsidiary of SplitCo, with amendments to both agreements made on June 16, 2024. The transactions are scheduled to be finalized on September 9, 2024, with the split-off occurring at 4:05 p.m. and the merger at 6:00 p.m., New York City time. Following the completion of these transactions, SplitCo will be renamed Sirius XM Holdings Inc. (New SiriusXM) and is expected to trade on Nasdaq under the ticker symbol 'SIRI' starting September 10, 2024. The company has also included forward-looking statements regarding the transactions and their timing, while cautioning that these are subject to risks and uncertainties that could affect the actual results.