---
schema_version: "secwatch.filing_event.v1"
accession: "0000930413-23-002576"
form_type: "8-K"
ticker: "SIRI"
cik: "0000908937"
company_name: "SIRIUS XM HOLDINGS INC."
filed_at: "2023-12-12T23:59:59+00:00"
generated_at: "2026-06-07T14:32:34.074180+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Liberty Media & SiriusXM combine tracking stock with SiriusXM to form New SiriusXM with single-class stock

## Summary
- LSXM tracking stockholders receive ~8.4 shares of New SiriusXM per LSXM share; existing SIRI minority holders get 1:1.
- Pro forma ownership: former LSXM holders ~81%, existing SIRI minority ~19%; ~3.4B basic shares outstanding.
- Transaction includes ~$1.7B net liabilities assumption and $1.1B committed financing from Morgan Stanley, BofA, J.P. Morgan.
- Deal expected to close early Q3 2024; tax-free to LSXM and SIRI stockholders (except cash in lieu of fractional shares).
- New SiriusXM maintains low-to-mid 3x leverage target; no change to dividend policy while de-emphasizing buybacks.

## SEC filing metadata
- accession: 0000930413-23-002576
- form_type: 8-K
- ticker: SIRI
- cik: 0000908937
- company_name: SIRIUS XM HOLDINGS INC.
- filed_at: 2023-12-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/908937/000093041323002576/0000930413-23-002576-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/908937/000093041323002576/c107443_8k-ixbrl.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000930413-23-002576
- JSON: https://secwatch.observer/filing/0000930413-23-002576.json
- Plain text: https://secwatch.observer/filing/0000930413-23-002576.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.