Liberty Media and its
jefe John Malone have lusted after Sirius XM Radio for some time. Their valentines have been rebuffed, so Malone decided to acquire a sufficient amount of Sirius stock to gain majority control of the firm.
According to a story in the LA Times, Liberty Media recently filed documents with the SEC that said it held 48% of the stock and had every intention of acquiring the necessary 2% to assume control.
Liberty Media is a major league player, and Malone is a very sharp customer. Whether his ownership of Sirius will be beneficial for the radio brand is hard to say. It's difficult to imagine anything exciting or innovative coming from Malone's minions. We'll see.
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