Sirius, Liberty Media Await FCC Clearance
Sirius XM Radio (NASDAQ:SIRI) sees John Malone’s Liberty Media Corp. (NASDAQ:LMCA) increasing its stake a bit to 49.8 percent as the latter awaits an approval from the Federal Communications Commission to exercise control over the firm. According to a filing with the Securities and Exchange Commission, Liberty Media reported that it has raised its position in Sirius by 30.96 million shares at an average price of $2.66 . More than two months ago, Liberty Media said it hiked its stake in Sirius XM Radio to 49.7 percent from 49.2 percent and the company became Sirius’ largest shareholder in 2009, subsequent to granting it a $530 million loan to help avert bankruptcy.
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