John Malone’s Liberty Media has increased its stake in Sirius XM Radio to about 48% from 46.2%, the Wall Street Journal reported tonight. Liberty disclosed in an evening filing that it had bought roughly 90 million Sirius shares recently for about $2.50 each or $225 million in total. That and another transaction involving an additional 41 million shares raise Liberty’s effective stake to 48%. Liberty has asked the FCC for permission to take control of the company, but Serious has opposed the application. If Liberty increases its stake to more than 50% it would have clear control of the company, allowing Liberty to replace Sirius management and possibly take other actions such as spinning off the satellite radio broadcaster to Liberty shareholders.
By THE DEADLINE TEAM | Tuesday August 14, 2012 @ 10:32pm PDTTags: John Malone, Liberty Media, Sirius XM
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This article was printed from http://www.deadline.com/2012/08/liberty-increases-sirius-xm-stake-to-48/
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