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Liberty Media Proposes Combining With SiriusXM to Form ‘New SiriusXM’

“SiriusXM minority shareholders will also benefit from enhanced trading dynamics, including increased liquidity and likelihood of future index inclusion.”

Barrett News Media

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Liberty Media has proposed combining with SiriusXM. The group, which also owns controlling interest in the Atlanta Braves and Formula One Racing, has proposed forming a “new, consolidated public company” with the satellite radio giant.

According to the Liberty Media website, the company already owns 83% of SiriusXM. Combining the to companies would give Liberty full control of both SiriusXM and Pandora.

If a deal were to close, minority shareholders would own 16% of SiriusXM. Liberty proposes the other 84% would belong to holders of LSXM stock. 

“Liberty’s proposal rationalizes the dual corporate structure between LSXM and SiriusXM and provides value to all shareholders with a more flexible and attractive currency in New SiriusXM,” Liberty president and CEO Greg Maffei said. “SiriusXM minority shareholders will also benefit from enhanced trading dynamics, including increased liquidity and likelihood of future index inclusion.”

SiriusXM issued a statement acknowledging the proposal. The company had no recommendation to shareholders at this time.

“There can be no assurance that the proposal, or any other transaction, will be completed or, if so, as to the terms and conditions of any such transaction,” the statement says.

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Media Business

NAFB Executive Director Tom Brand, Strong AM Radio Advocate, Resigning

The NAFB executive board and its directors will lead the search for a new executive director.

Eduardo Razo

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The The National Association of Farm Broadcasting logo

Changes are coming to the National Association of Farm Broadcasting (NAFB) as Tom Brand resigned from his executive director position. The resignation will take effect on December 31.

Brand became a member of the NAFB team in August 2011 after serving as farm director at KFEQ Radio in St. Joseph, Missouri.

“I want to thank Tom for his leadership of NAFB for the last 12-plus years,” Joe Gill, NAFB’s 2023 president, said. “His passion and dedication to farm broadcasting has been invaluable, and I’m truly grateful for his service to the NAFB.” 

The National Association of Farm Broadcasting’s executive board and its directors will lead the search for a new executive director, and the organization will share information about the pursuit once it is announced.

“A lot of things have changed since I came to NAFB in August 2011. Our industry looks different, but it has done a wonderful job remaining relevant and is positioned for the future. I’m pleased with the status of the association, noting growth in multiple areas — membership, offerings to members, financial stability, and impact to the agriculture community,” Brand said. 

“Looking back on more than 30 years of involvement with NAFB, I recognize listeners are truly connected to their farm broadcasters; advertisers understand the importance of that connection; and I know farm broadcasting is proven and will continue to deliver its message to this important part of the nation’s economy.”

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Bloomberg Media CEO Scott Havens Departs to Join New York Mets

Havens was elevated to the CEO of Bloomberg in January of last year, after previously serving as Chief Growth Officer and Global Head of Strategic Partnerships.

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Bloomberg Media CEO M. Scott Havens is departing his role to become the President of MLB’s New York Mets.

Havens was elevated to the CEO of Bloomberg Media in January of last year, after previously serving as Chief Growth Officer and Global Head of Strategic Partnerships.

He joined the company in 2015 after spending time as the Senior Vice President of Digital at Time Inc. He was also the President of The Atlantic, and also spent time at Portfolio.com, and Yahoo! Finance, among others.

In his new role, Havens will report directly to New York Mets owner Steve Cohen.

“The opportunity to join the Mets organization is a lifelong dream fulfilled,” said Havens. “I’m thrilled to build upon the great work underway, accelerating the push to modernize our strategy across the organization, driving new digital and media innovation, and ultimately, to provide our fans with the best experience in sports. I’m grateful to Steve and Alex for this opportunity and am looking forward to working with the entire leadership team to shape the future of the Mets together.”

“Bringing someone on board of Scott’s caliber is an exciting development for the Mets organization,” added Mets Owners Steve and Alex Cohen. “Scott has vast experience leading world-class media and digital technology-led companies such as Bloomberg Media and Time Inc. and he’ll provide a modern vision and strategic direction for our organization.

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Ex-CNN President Jeff Zucker Acquiring Two U.K. Media Outlets

Reports indicate that Zucker is planning to expand U.K. publications into the U.S.

Eduardo Razo

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A photo of Jeff Zucker
(Photo: Mike Coppola / Getty Images)

Former CNN president Jeff Zucker is getting back into the news media industry. According to The New York Times, Zucker is reportedly set to acquire The Daily Telegraph and The Spectator, two influential conservative publications in the U.K.

Zucker’s RedBird IMI bid approximately $1.4 billion for the publications that went up for auction following the Barclay family’s default on a loan.

Reports indicate that Zucker is planning to expand U.K. publications into the U.S. However, he will not be responsible for daily news coverage and instead will focus on strategy.

Recently, news reports have linked the former CNN chief as a potential buyer of CNN in case Warner Bros. Discovery decides to sell the cable network. He has confirmed his interest in acquiring CNN.

During the Yahoo Finance Invest Conference in early November, Zucker stated that CNN is not currently for sale and that his RedBird IMI Capital firm is not investigating a purchase. However, Zucker referred to CNN as a “fantastic asset.”

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