Liberty Media Corp (FWONA): M&A transaction — Liberty Media completes split-off of Sirius XM, merger creates independent Sirius XM Holdings

Liberty Media Corp

On Sept 9, 2024, Liberty Media split-off Liberty Sirius XM Holdings by exchanging each share for 0.8375 New Sirius shares.
New Sirius merged with Sirius XM Holdings; surviving entity renamed Sirius XM Holdings Inc. with 339,133,937 shares outstanding.
Former Liberty SiriusXM stockholders own ~81% of new Sirius XM Holdings; former Sirius XM minority holders own ~19%.
Liberty SiriusXM tracking stocks (LSXMA, LSXMB, LSXMK) delisted from Nasdaq effective Sept 9, 2024.
Pro forma financials show Liberty Media's remaining assets (Formula 1, Liberty Live) with total equity of $6.5B as of June 30, 2024.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Liberty Media Corp completed a disposition involving Liberty Sirius XM Holdings Inc. for redeeming each outstanding share of Liberty SiriusXM common stock in exchange for 0.8375 of a share of New Sirius common stock, with cash in lieu of fractional (closed 2024-09-09).

Action: disposition
Counterparty: Liberty Sirius XM Holdings Inc.
Consideration: redeeming each outstanding share of Liberty SiriusXM common stock in exchange for 0.8375 of a share of New Sirius common stock, with cash in lieu of fractional
Closing: 2024-09-09

Exact text from the filing

the “ Split-Off ”) of its former wholly owned subsidiary, Liberty Sirius XM Holdings Inc. (“ New Sirius ”). The Split-Off was accomplished by Liberty Media redeeming each outstanding share of Liberty SiriusXM common stock, par value $0.01 per

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Liberty Media Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-098251

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