SiriusXM completes Liberty Media split-off, becomes independent public company with simplified structure

SIRIUS XM HOLDINGS INC.

Completed Split-Off and Merger; New Sirius renamed Sirius XM Holdings Inc., Old Sirius renamed Sirius XM Inc.
Reiterated FY2024 revenue guidance of ~$8.75B and adjusted EBITDA of ~$2.7B.
Updated FY2024 free cash flow guidance to ~$1.0B (down ~$200M due to transaction costs and incremental interest).
Board authorized $1.166B stock repurchase program, continuation of previous program.
Quarterly dividend confirmed; outstanding common stock reduced by ~12% before 1-for-10 adjustment.

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