Liberty closes final phase in Sirius deal

Sat radio firm issued 12.5 mil shares of new preferred stock

NEW YORK -- John Malone's Liberty Media has closed the second and final phase of its investment in Sirius XM Satellite Radio.

Under the deal, Sirius issued Liberty 12.5 million shares of new preferred stock convertible into 40% of the common stock of Sirius.

"This closing allows Liberty to align itself with one of the most exciting companies in media today," said Liberty president and CEO Greg Maffei.
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