The new SiriusXM will continue to operate under the companys existing name and brand.
It will continue to have a common stock traded on the Nasdaq Global Select Market.
Libertys tracking stock group would own 81% of the new entity, with SiriusXM owning the rest.
SiriusXM’s LA officesAaronP/Bauer-Griffin/GC Images
The merger is expected to close early in the third quarter of 2024.
Tracking stocks are designed to enable investors to zero in on a particular division of a diversified company.
Sirius CEO Jennifer Witz said the deal will allow SiriusXM to enter its next phase of value creation.
