Industry News

Liberty Media Proposes SiriusXM Merger

Numerous news outlets are reporting the proposal by Liberty Media to merge its business with an 83% stake in SiriusXM – Liberty SiriusXM Group (LSXM) – with the satellite radio company that become aim publicly traded company controlled by the conglomerate. Liberty Media CEO Greg Maffei says, “SiriusXM minority shareholders will also benefit from enhanced trading dynamics, including increased liquidity and likelihood of future index inclusion.” A merger between the two would result in SiriusXM minority investors owning about 16% of the new company, with Liberty Media controlling the rest. SiriusXM says it is evaluating the offer. Read the CNBC story here.