Liberty Media Proposes Merger With SiriusXM to Form New Public Company

Liberty Media proposed combining its Liberty SiriusXM tracking stock with SiriusXM Holdings to form a new public company.
The deal would involve splitting off Liberty's stake in SiriusXM into a new subsidiary that would merge with the rest of SiriusXM.
The proposed merger is intended to be tax-free and would require approval from a special committee.
Under the proposal, SiriusXM shareholders would receive one share of the new company's stock and 55 cents per share in cash.
The merger aims to rationalize the current dual corporate structure between Liberty and SiriusXM.