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FCC Kills Liberty’s Attempt to Control SiriusXM

Application for ‘defacto control’ dismissed

The FCC helped SiriusXM fend off a takeover attempt by Liberty Media.

The commission dismissed as unacceptable Liberty’s filing for “de facto” control of the satellite radio company.

Liberty, which loaned SiriusXM $530 million nearly four years ago, owns about 40% of SiriusXM. It has been trying to gain control of the satcaster since March when previous agreements barring Liberty from seeking total control expired.

The commission said Liberty’s application was incomplete. Liberty told the commission it couldn’t gain access to Sirius “passwords, signatures and other information required to file an electronic transfer of control application.”

SiriusXM CEO Mel Karmazin told analysts last week the company was confident the commission would rule in its favor, and it was waiting on word from the agency.