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Liberty Media Gains Control of SiriusXM

Latest stock purchase makes the difference

Liberty Media has reached its goal of taking control of SiriusXM, according to published accounts.

With its latest purchase of 50 million shares of the satellite radio company, Liberty Media now owns roughly 50.5% of SiriusXM, according to Bloomberg and the Wall Street Journal. 

The FCC had already approved the transfer of SiriusXM’s licenses and the board, now under Liberty’s control, is expected to soon name a new chief executive officer.

We reported the satcaster named President of Sales and Operations James Meyer interim chief executive officer after Mel Karmazin left in December.

The WSJ reported Liberty isn’t planning big changes in the board makeup.