Morgan Stanley Speculates on Possible Effects of Recent News from Liberty Media Corp.

In a report published Friday, Morgan Stanley analyst Benjamin Swinburne reiterated an Equal-Weight rating on

. In the report, Morgan Stanley noted, “Liberty Media announced today that their previous SIRI buy-in offer is no longer applicable, after Liberty's board authorized the creation of two new tracking stocks with an expected 3Q completion date. One of these tracking stocks, Liberty Broadband Group

, is intended to track Liberty's interest in Charter, TWC, and TruePosition Inc., along with associated liabilities. The other tracking stock, Liberty Media Group

, will keep all businesses, assets (including SIRI), and liabilities of Liberty not attributed to Liberty Broadband Group.” Liberty Media Corp. closed on Thursday at $126.14.