"In addition, earlier this year Liberty submitted a proposal to Sirius XM to acquire all of the shares of Sirius XM that it did not already own in exchange for Liberty common stock. This proposal was withdrawn before Sirius XM could respond. Should a combination with Sirius XM be pursued in the future, the Spin-Off should facilitate such a transaction by removing Broadband Assets and Liabilities and creating a purer-play company with a more efficiently-priced acquisition currency. Similarly, Liberty believes that the Spin-Off may also help to facilitate a potential combination of our company with Charter if one were pursued."