Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Sirius XM and Liberty Media merger triggers mixed market response

EditorRachael Rajan
Published 09/26/2023, 04:17 PM
© Reuters.
FWONA
-
LSXMA
-
LSXMK
-

The proposed merger between Sirius XM (NASDAQ:SIRI) and Liberty Media has elicited a mixed response in the market, with Sirius shares dipping 3.2% and Liberty's shares rising 4.5% on Tuesday. The merger plan involves forming a new entity named "SplitCo", which will manage Liberty's subsidiaries, Liberty Live Group and Formula One Group.

Liberty Media, which currently holds an 83% stake in Sirius XM, has outlined a complex deal involving LSXMA, LSXMB, and LSXMK tracking stocks. The tracking stocks are designed to reflect the economic performance of certain of Liberty Media's businesses or assets. The planned merger has led to varied responses from Sirius XM shareholders as they face several unknown variables in the deal.

The proposed merger between Sirius XM and Liberty Media represents a significant move in the media industry. The potential impact on shareholders and the overall market will continue to unfold as further details about the deal are released.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.