In an exhilarating turn of events, Sirius XM Holdings Inc. has orchestrated a masterstroke, aligning with its majority stakeholder Liberty Media Corp. This strategic maneuver, announced on a momentous Tuesday, is set to revolutionize the satellite radio giant’s ownership framework.
Legal Maestros and Financial Virtuosos
Steering this ambitious project, SiriusXM has enlisted the legal expertise of Simpson Thacher & Bartlett LLP. Parallel to this, a team of legal virtuosos from Debevoise & Plimpton LLP are advising a special board committee, with O’Melveny & Myers LLP representing Liberty Media’s interests.
Late September revelations hinted at SiriusXM’s contemplation of a Liberty Media proposal, sparking widespread speculation and excitement.
The Genesis of a New Powerhouse
At the core of this deal is a bold blueprint: Liberty Media will bifurcate its Sirius XM tracking stock group, spawning a new subsidiary. This entity will then seamlessly merge with Sirius XM, ushering in a new public company under the iconic SiriusXM banner.
