Liberty Media Withdraws Proposal To Buy SiriusXM In Stock Reshuffling Designed To Help Charter Expand

By | Thursday March 13, 2014 @ 3:15pm PDT

Liberty Media logoSiriusXM shares are down about 2.4% to $3.29 in post-market trading after Liberty Media said it will sit tight with its 53% stake in the satellite radio company while it reshuffles its asset portfolio — potentially to help Charter … Read More »

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Liberty Media Generates Q4 Profit Due To Strength At SiriusXM

By | Friday February 28, 2014 @ 5:41am PST

Liberty Media logoLiberty Media is too important a company to ignore, but since it’s mostly a holding company for stock in other publicly traded entities there’s rarely anything surprising in its earnings report. That’s pretty much the case this morning … Read More »

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SiriusXM Delays Plan To Buy Back Liberty Media Shares While It Weighs Takeover Offer

By | Friday January 24, 2014 @ 1:44pm PST

The satellite radio company has postponed from January 27 to April 25 the planned $240M share repurchase from majority owner, John Malone’s Liberty Media.SiriusXM But Malone shouldn’t fret: SiriusXM now says that it will buy $340M of Liberty’s holdings … Read More »

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Should SiriusXM Ask Howard Stern To Take A Pay Cut?

Fans of the shock jock won’t like the conclusions that Macquarie Equities Research’s Amy Young reaches in a new report on this provocative question. HowardSternWhile Howard Stern was a big draw for SiriusXM in 2004 when he agreed to … Read More »

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Spike Lee Heads To Sirius XM Radio For Next Joint

By | Wednesday January 22, 2014 @ 12:50pm PST

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Liberty Media Offers To Buy Sirius XM

By | Friday January 3, 2014 @ 1:56pm PST

John Malone‘s company proposes a stock swap that would value Sirius XM at $3.68 a share — a mere 3% premium over Friday’s closing price of $3.57. Sirius XM logoLiberty Media already owns more than 52% of the satellite radio company’s shares, so this wouldn’t change control, and it says that it won’t squeeze out other investors. It will only go ahead if a special committee of independent directors, and other shareholders, support the change. They likely would insist on a higher price. The goal is to “simplify the capital structure and pursue other economic opportunities,” Liberty CEO Greg Maffei says. The company also says that Sirius XM shareholders will benefit by ending up with 39% of Liberty, though their shares would not entitle them to vote on its affairs.

Related: SiriusXM Will Raise Rates 3.5% In January

“We believe the combined company will have better access to capital and all of Liberty’s shareholders — both its current shareholders and the Sirius shareholders who become Liberty shareholders as a result of the proposed transaction — will enjoy enhanced liquidity as shareholders of a $27 billion market capitalization company,” Maffei says. Malone adds that a deal “will enable us to focus our energies on the pursuit of new opportunities across the expanded portfolio of Liberty’s businesses.” Everything that Malone does has to be seen in the context of his eagerness to help Charter Communications (where Liberty’s the biggest shareholder) buy Time Warner Cable. “There are lots of ways that something can occur there,” Maffei says. “It’s likely that (a potential deal for TWC) would close significantly later than the transaction contemplated here.”

Here’s Liberty’s announcement: Read More »

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SiriusXM Will Raise Rates 3.5% In January

By | Thursday October 24, 2013 @ 5:11am PDT

The price for consumers will go up 50 cents to $14.99 a month, CEO Jim Meyer told analysts this morning in a conference call to discuss Q3 earnings. Although this was a “difficult decision,” he says, SiriusXM‘s … Read More »

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Liberty Media Unveils Deals With Sirius XM and Comcast Ahead Of Investor Meeting

By | Thursday October 10, 2013 @ 5:02am PDT

UPDATED: John Malone’s company will give Wall Street a lot to talk about today. Shares in Liberty-controlled Sirius XM are already up about 2% in pre-market trading after it said that it will add … Read More »

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SiriusXM Agrees To Pay $530M For Auto Information Service Agero

By | Thursday August 15, 2013 @ 4:58am PDT

NEW YORK, Aug. 15, 2013 — Sirius XM Radio (NASDAQ: SIRI) today announced that it has entered into a definitive agreement to acquire the connected vehicle services business of Agero, Inc. for $530 million in cash.

The connected vehicle unit of Agero is the leading provider of innovative telematics services, offering safety, security and convenience services for drivers and end-to-end, turnkey solutions for automakers. Following the acquisition, SiriusXM will provide connected vehicle services to more automotive manufacturers — including Acura, BMW, Honda, Hyundai, Infiniti, Lexus, Nissan and Toyota — than any other telematics provider.

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Radio Host Art Bell Joins SiriusXM To Present Talk Show About The Paranormal

By | Tuesday July 30, 2013 @ 8:28am PDT

NEW YORK—July 30, 2013 – Sirius XM Radio (NASDAQ: SIRI) announced today it will be the exclusive home to legendary radio personality Art Bell, marking the return of the trailblazing late night host to radio with a new, expanded live, nightly call-in show on which he will explore the paranormal, unexplained and more with expert guests and listeners nationwide.

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SiriusXM Raises 2013 Subscription Forecast As Car Sales Remain Strong

By | Tuesday July 9, 2013 @ 5:05am PDT

SiriusXM shares are up about 2.3% in pre-market trading today after the satellite radio broadcaster announced that it ended Q2 with more than 25M subscribers, a net addition of 715,000 — well ahead of analyst expectations. The increase … Read More »

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Liberty Media CEO Foresees Cable Mergers But Remains Coy About Charter’s Plans

It’s natural to wonder whether Liberty Media Chairman John Malone’s new acquisition of 27.3% of Charter Communications is merely Step One in a plan to make him a U.S. cable titan — the role he played until 1999 when he sold Tele-Communications Inc to AT&T. And while Liberty CEO Greg Maffei doesn’t predict that, he also didn’t rule it out today in a quarterly earnings call with analysts. He says that cable “could be in for a round of consolidation” at a time when it’s so inexpensive to borrow money and large companies covet opportunities to cut costs — for example by negotiating lower prices from programmers. He cryptically adds that even though Charter can do just fine as a stand-alone entity, “we’ll see” whether it ends up being “a consolidator or condolidatee.” Liberty’s stock purchase agreement gives it the right over time to raise its stake to 40%. Will it do so? “We’ll see what time holds,” Maffei says. Read More »

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Liberty Media Says Revenues And Cash Flow Grew In Q1

Liberty Media is too important a company to ignore. But the Q1 earnings statement out this morning is a jumble after it spun off Starz and formally took control of Sirius XM. It reports net … Read More »

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Sirius XM Q1 Subscriptions Hit New Record As Jim Meyer Named CEO

By | Tuesday April 30, 2013 @ 4:38am PDT

Just so you’re not confused: Jim Meyer had been “interim” CEO beginning in December when Mel Karmazin left the top job at the satellite radio company controlled by Liberty Media. Now the job is formally his. … Read More »

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Court Kills Howard Stern’s Appeal In $300M Sirius XM Stock Bonuses Suit

By | Thursday April 11, 2013 @ 11:09am PDT

The New York Supreme Court today handed America’s Got Talent judge Howard Stern a further defeat in his multimillion-dollar suit against Sirius XM. “We agree with the motion court that plaintiffs are not entitled to additional performance-based compensation under the unambiguous agreement between plaintiffs and defendant’s predecessor, Sirius Satellite Radio Inc,” the First Appellate Division wrote today. Justices Rosalyn H. Richter, Angela M. Mazzarelli, Luis A. Gonzalez, Dianne T. Renwick and Judith J. Gische represented the appeals court panel. In a suit filed in March 2011, Stern’s company One Twelve and his agent Don Buchwald claimed that they were owed more than $300 million after Sirius exceeded subscriber targets following its merger with rival XM in 2008. Stern actually did get a $25 million bonus from the company as a result of the merger but he claimed he was expecting more. Judge Barbara Kapnick of the New York State Supreme Court tossed the suit last year on April 17. “Looking solely to the plain language used by the parties within the four corners of the agreement the disputed term “Sirius subscribers,” by which plaintiffs’ performance-based compensation was measured, did not include subscribers to XM Radio, a wholly owned subsidiary which defendant acquired by merger, even though the merger had been anticipated within the agreement,” added the judges today. Read More »

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Liberty Media CEO Says Deals May Make Sense For Sirius XM And Starz: Video

By | Thursday April 11, 2013 @ 9:02am PDT

Greg Maffei seems open to all kinds of possibilities for the properties his company controls. The newly anointed chairman of Sirius XM told CNBC’s David Faber today that Liberty “absolutely” might consider spinning off the satellite radio company, making it independent again. And he says that … Read More »

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Sirius XM Board Adds Discovery’s David Zaslav And John Malone’s Son, And Pays Mel Karmazin $11M

By | Wednesday April 10, 2013 @ 2:24pm PDT

Liberty Media Chairman John Malone‘s company controls Sirius XM, but he and Liberty General Counsel Charles Tanabe no longer want to sit on the satellite radio provider’s board, according to the Read More »

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Sirius XM Q4 Earnings Match Expectations But Revenues Come In Light

By | Tuesday February 5, 2013 @ 4:26am PST

Shares are down about 1.4% in pre-market trading although there are few surprises in the satellite radio company’s first earnings report with Liberty Media firmly in charge. Sirius XM reported Q4 net income of $156.2M, +119.0% … Read More »

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Sirius XM Board Overhauled As Liberty Media Formally Takes Control

By | Tuesday January 22, 2013 @ 6:27am PST

Liberty Media Chairman John Malone just consolidated his power at the satellite radio company as four people friendly to his outlook joined the Sirius XM board replacing former CEO Mel Karmazin — who left last monthRead More »

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