Simpson Thacher & Bartlett LLP is advising Sirius XM Holdings Inc. (NASDAQ: SIRI) in its agreement with Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) to combine SiriusXM with Liberty Media’s Liberty SiriusXM tracking stock group (NASDAQ: LSXMA, LSXMB and LSXMK) (collectively, “LSXM”). The transaction will create a new public company, which will continue to operate under the SiriusXM name and brand. The transaction is subject to customary conditions and is expected to close in the third quarter of 2024.
SiriusXM is the leading audio entertainment company in North America with a portfolio of audio businesses including its flagship subscription entertainment service SiriusXM; the ad-supported and premium music streaming services of Pandora; an expansive podcast network; and a suite of business and advertising solutions. Liberty Media Corporation operates and owns interests in a broad range of media, communications and entertainment businesses.
The Simpson Thacher team includes: Eric Swedenburg, Johanna Mayer, Stephen Powell (M&A); Marisa Stavenas, Lia Toback, Catherine Ciriello, John Balletta, J. Carr Gamble (Capital Markets); Brian Steinhardt, Dennis Durkin, Anita Wu, Diana Yen (Banking and Credit); Sophie Staples, Andrew Purcell, Edward Grais, Matthew Lester, Paul Jansch (Tax); Jamin Koslowe, Jeffrey Penn, Matias Botto (Executive Compensation and Benefits); Karen Kelley and Rob Hayes (PCAP); Jonathan Lindabury and Jakarri Hamlin (Derivatives), Kelly Karapetyan (Antitrust).