Liberty Media Corp. and Sirius XM Holdings Inc. have agreed to simplify the ownership structure of Sirius XM and combine Liberty Media's Liberty SiriusXM tracking stock group with SiriusXM. The transaction, announced Dec. 12, is expected to close early in the third quarter of 2024. Financial terms were not disclosed. Englewood, Colorado-based Liberty Media was advised by O'Melveny & Myers; and Skadden, Arps, Slate, Meagher & Flom. Sirius XM, based in New York, was counseled by a Simpson Thacher & Bartlett team led by New York-based partners Eric Swedenburg and Johanna Mayer. The special committee of SiriusXM was represented by Debevoise & Plimpton. Willkie Farr & Gallagher guided Solomon Partners, acting as financial advisor to the SiriusXM special committee. The Willkie Farr team was led by partners Steve Seidman and Sean Ewen.
Entertainment, Sports & Media
December 13, 2023, 11:14 AM