Summary by Moomoo AI
On August 23, 2024, Liberty Media Corporation announced the approval of a redemptive split-off of its subsidiary, Liberty Sirius XM Holdings Inc., which will result in the delisting of Liberty Media's Series A, B, and C Liberty SiriusXM common stock from the Nasdaq following market close on September 9, 2024. The shares of the newly formed subsidiary, referred to as SplitCo, are expected to begin trading on Nasdaq under the ticker symbol 'SIRI' starting September 10, 2024. This decision follows a special meeting where shareholders approved both the split-off and an adjournment proposal, allowing for additional time to solicit proxies if necessary. The split-off is part of a larger reorganization agreement with Sirius XM Holdings Inc., which includes a merger of a wholly owned subsidiary of SplitCo with and into Sirius XM. The forward-looking statements in the report are subject to risks and uncertainties that could affect the timing and outcome of the proposed transactions.
