Sirius Investors: New 45.2% Liberty Stake Is Good News
By Income Hunter:Sirius XM (SIRI) stock might get a slight bump in value in the next few weeks because John Malone of Liberty Media (LMCA) appears to be buying up a lot of it. The Los Angeles Times reported that Malone's company now owns over 45% of Sirius. The paper reported that Liberty had managed to buy up at least 45.2% of Sirius's stock by May 8. Mr. Malone has been trying to get control of Sirius for quite some time. Last week, the Federal Communications Commission (FCC) stopped his previous effort by saying that Liberty needs to own at least 51% of Sirius to be able to take over the satellite radio network's licenses. Since he's been rebuffed by the FCC, Malone is trying to take control of Sirius the old fashioned way, by buying it. Liberty can make another request to the FCC to take over Sirius's licenses on JuneComplete Story »
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