What’s the deal with SIRI? How bad is it looking for shareholders?

Liberty Media has proposed a deal to split off its shares of Sirius XM into a new, publicly traded subsidiary, which would then merge with Sirius XM.

Liberty Media already owns a roughly 83% stake in Sirius XM (ticker: SIRI), whose holdings span satellite radio, podcasts and the Pandora audio-streaming service. Liberty Media’s Sirius XM shares are held in a tracking stock group (LSXMA).

https://www.barrons.com/amp/articles/liberty-media-sirius-xm-stock-merger-81bb0a7d

Judging from the stock movements, the market thinks this is bad for SIRI holders and good for LSXMA shareholders. I own both, but considerably more SIRI. What’s the best course of action here?