Last week, Liberty Media bought another 31 million shares (0.5 per cent) in Sirius-XM, taking its stake in the pay-radio broadcasters to 49.8 per cent. Liberty Media is awaiting Federal Communications Commission (FCC) regulatory approval to move beyond the 50 per cent threshold and take full control of Sirius-XM.

The FCC is expected to make its decision during the next few weeks.  Sirius-XM’s CEO Mel Karmazin is already voting with his feet and has announced he will leave in February.

Liberty bailed out Sirius-XM from near-bankruptcy in 2009 when it loaned the business $530 million, which was converted to preferred stock but with a restriction limiting Liberty to a 49.5 per cent stake, a clause that expired back in March.

Other posts by :

1. Italy joins Germany in IRIS2 alternate thoughts
2. Kazakhstan to create museum at Yuri Gagarin launch site
3. AST SpaceMobile gets $42 or $1500 price target
4. Analyst: GEO bloodbath taking place
5. SES AGM results: Appaloosa still objecting
6. SpaceX’s Shotwell worth $1.2bn
7. SpinLaunch’s revolutionary plan for 280 satellites
8. Consolidation impacts satellite sector
9. Project Kuiper plans first satellite launch

Categories: Articles, Broadcast, Business, Digital Radio, M&A