The merger and reverse stock split simplified the audio entertainment giant's financial structure, executives said.
The move beefs up the satellite radio giant's podcast business, which also has deals with Conan O'Brien's Team Coco and SmartLess Media.
The Billboard Global Music Index fell 1.1% to 1,739.18, bringing its year-to-date gain to 13.4%, amid overall sharp declines in U.S. stock markets.
The decrease, though better than the same quarter last year, contributed to an overall 3% decline in the company's quarterly revenues.
A group of angry consumers say the satellite radio giant has been quietly adding a misleading “U.S. Music Royalty Fee” that jacks up prices above what's actually advertised.
The Billboard Global Music Index fell 0.3% to 1,814.88, bringing its year-to-date gain to 18.3%.
The 1-for-10 stock split reduces the number of shares in hopes of boosting the company's stock when it merges with Liberty Media's tracking stock later this year.
"It is actually quite a complicated format and he made it look easy," Steven Van Zandt wrote in tribute.
Wednesday's (June 12) sit-in was part of the broadcaster's new Guest DJ campaign that will include similar sets from Kate Hudson, Kevin Hart, Conan O'Brien, Rob Lowe and more.
The dedicated channel will launch on Friday (May 10) at noon. E.T.
