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Broadcast & Satellite

Liberty Media gains majority control of Sirius XM Radio

Friday 18 January 2013 | 21:54 CET | News
Liberty Media has announced it has gained majority control of the satellite-radio provider, Sirius XM Radio with its latest purchase of 50 million shares, according to Bloomberg. Liberty Media now owns 1.99 billion common shares and 1.29 billion convertible shares. If the converted stock is added to the outstanding shares of New York-based Sirius, Liberty Media owns about 50.5 percent. Liberty plans to take control of the Sirius board, putting it in position to choose a new chief executive officer, the article said. Liberty will consider returning capital to Sirius shareholders with stock buybacks or a dividend, Liberty Media CEO Greg Maffei said in November.

Categories: Broadcast & Satellite
Companies: Liberty Media / Sirius XM Radio
Countries: United States
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