NEW YORK ( TheStreet) -- Liberty Media ( LCAPA) and its equity affiliate Sirius XM ( SIRI) reached 52-week highs this morning as investors show confidence for media stocks entering the new year.

Sirius surged to $1.74 in early morning trading today as investors expect automakers to report strong December U.S. car sales today at 3 p.m. ET.

Sirius, which relies heavily on auto sales for subscriber growth, recently teamed up with BMW to offer an introductory one-year subscription of the "Sirius Everything" package with every new 2011 BMW Mini and several of its new motorcycle models.

Two weeks ago, Edmunds.com said the number of new car sales in the U.S. will reach the highest level of the year this December.

The car-buying site expects to see about 1.1 million new auto sales in December, up 30.4% from November 2010 and up 10.2% from December 2009. It also projects a 10.5% increase in total units sold in 2010 to 11.5 million from 10.4 million in 2009.

Shares were also climbing on Monday morning after the company announced that it entered into a multi-year broadcast agreement with Manchester United Football Club.

The deal appoints Sirius the official U.S. radio broadcaster of Manchester United and gives the company the rights to stream live play-by-play broadcasts of every Premier League match to subscribers online as well as through Sirius' mobile application.

If you liked this article you might like

Rebuilding Efforts From Hurricanes Harvey and Irma Make These 6 Stocks Must Buys

3 'Orphan Stocks' to Consider Adopting

Novartis AG, Sirius XM Radio, Coupa Software: 'Mad Money' Lightning Round

August's Inexplicable Selloffs Are Here: Cramer's 'Mad Money' Recap (8/17/17)