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SiriusXM Stock Closes 2.55% Higher After Merger With Liberty Media Tracking Stock
The merger and reverse stock split simplified the audio entertainment giant's financial structure, executives said
The company said Tuesday that the simplified capital structure will support its strategy for growth. “We’ve created a strong and profitable business, anchored by a subscription service that fosters deep and loyal connections with our listeners and a growing digital audio advertising platform which extends our reach to fans around the world, and we are excited about the future as we look to expand and strengthen both platforms.” Following Tuesday’s merger, the former holders of Liberty SiriusXM stock own roughly 81% of the new shares.
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