In December 2023, Liberty Media announced that its Sirius XM tracking stock, Liberty Sirius XM Group (NASDAQ: LSXMA) (NASDAQ: LSXMB) (NASDAQ: LSXMK) would be merged with Sirius XM Holdings to create a new public company ("New Sirius XM") with a single outstanding share class. Having the Liberty Sirius XM Group tracking stock as the primary owner of Sirius XM's outstanding shares has, admittedly, been confusing for years. Combining the two, which should occur during the third quarter, will end the confusion and any unexplained arbitrage between the securities.