John Malone's Liberty Media Buys More Sirius XM Stock
The company has raised its stake in the satellite radio company to 46.2 percent.
John Malone's Liberty Media has bought additional stock in Sirius XM Radio, bringing its stake in the satellite radio firm to 46.2 percent once a planned stock deal closes.
Earlier this week, Liberty had announced it had agreed to buy shares in the third quarter for $650 million, which would raise its stake to 45.2 percent.
The FCC recently declined to agree with Liberty that it has de facto control of Sirius, led by CEO Mel Karmazin.
Liberty CEO Greg Maffei said on his company's earnings conference call this week that the company would submit an updated filing with the FCC to allow it to reconsider its application. He said the stock deal and other moves should affect how the FCC views the application.
Liberty bought the additional 60 million shares for nearly $130 million, according to a regulatory disclosure.
THR's Daily Must Feeds
-
Leonardo DiCaprio Raises $1.5 Million at amfAR Cannes Gala
-
Watch 4 New Scenes From 'Arrested Development'
-
Mariah Carey: Wardrobe Malfunction on 'Good Morning America'
-
Director Responds To Boos For Ryan Gosling Film
-
'Rocky Horror' Actor Tim Curry Suffers Stroke
-
'Star Trek' Legend Rates New Movie
-
The Year of Rock: How the Former Wrestler Became King of the Action-Cinema Ring
-
James Van Der Beek on Putting 'Dawson' Behind Him and 'Don’t Trust the B’s' Hulu Finale
