FCC Approves Liberty Media Move For Control Of SiriusXM
January 3, 2013

Liberty Media has moved another step closer to taking control of SiriusXM, as the FCC has granted approval of Liberty's request to assume the satcaster's broadcast licenses. The FCC announced that it has approved the transfer of control of SiriusXM's licenses to Liberty, which informed the Commission last spring it was aiming to take over the satcaster. Throughout 2012, Liberty gradually increased its share of SiriusXM stocks.

Bloomberg reports that Liberty has said in its filings that it planned to convert preferred securities, as well as buy more shares, to own more than 50 percent of SiriusXM's common stock, within 60 days of gaining FCC approval of the license transfer.

Last summer, Liberty Media head John Malone also confirmed that once his company gains control of SiriusXM, it plans to spin the satcaster off to a new owner.

Meanwhile, Forbes reports that shares of SiriusXM jumped in price on Thursday (1/3) to $3.10/each, the highest price the satcaster has traded at in five years. This has led to speculation that Liberty Media has already begun buying up more SIRI shares to cross the 50 percent threshold. As of 5 p.m. ET, SIRI was trading at $3.08/share.




 
Breaking News
iHeartMedia Names Tony Banks Director of Talent Development for Central Division
Elvis Duran To Receive Star On The Hollywood Walk Of Fame
WMGC/Detroit Pulls The Plug On Sports Talk
In Brief - June 29, 2016
June 28, 2016
jācapps Cracks The Connected Car Code For Radio
ABC Radio, SLS Las Vegas & Skyview Networks Announce Strategic Sales & Radio Programming Relationship
WLTW/New York Celebrates Broadway This Summer At 106.7 LITE FM’s Broadway in Bryant Park 2016
CBS Radio Grabs Its Share of Gracie Awards
WXPN/Philadelphia Reaches A Milestone 30,000 Members
June 27, 2016
iHeartMedia-Columbia Names Jonathan Reed Program Director At WNOK
Hilary Returns to 91X/San Diego
Greater Media Restructuring Leads to Layoffs
June 24, 2016
European Music Industry Reacts to "Brexit"
iHeartMedia-Nashville Names Morgan Huelsman Digital PD
In Brief - June 24, 2016
June 23, 2016
Republic Records Names Dan Cohen As VP/Marketing
WMMR/Philadelphia's 11th Annual I Bleed For Preston & Steve Blood Drive Hailed A Big Success
CBS Radio's Lisa Dent, Tim Roberts & Mick Anselmo Honored By Country Radio Hall Of Fame
June 22, 2016
Cumulus Media Appoints John Abbot as Chief Financial Officer
iHeartMedia Cannes Event With Ryan Seacrest And Usher
Berlin School & iHeartMedia Announce Return Of 'Leadership in Audio Innovation' Scholarship Competition
iHeartMedia/St. Louis Announces Launch Of Pride Radio St. Louis
June 21, 2016
Community Broadcasters Purchase Florida Stations From Apex Broadcasting
jācapps to Host Webinar on Understanding the Connected Car
Music News
Does It Inspire You?
Quick Hits: Scotty Moore, Rihanna, Democratic National Convention, Hollywood Walk of Fame
Jennifer Hudson Signs With Epic Records
Quick Hits: Pink Floyd, Riot Fest
BET Awards Honor Prince, Get Political
Drake Still at #1, Chili Peppers Debut at #2
Kelly Clarkson Signs Worldwide Deal With Atlantic Records
Quick Hits: Bernie Worrell, Rihanna, Aerosmith, Kennedy Center Honors, Ralph Stanley
Led Zeppelin Wins Copyright Trial
Quick Hits: Kanye West, The BET Awards
Kanye West, The Weeknd + more to play The Meadows Music and Arts Festival
Quick Hits: Music Midtown festival, Drake, Chance the Rapper. Outta This World concert, Maynard James Keenan
Nick Jonas Debuts at #2, Drake Still Tops Billboard 200
Quick Hits: Made In America festival, Drake, Rita Ora, P.M. Dawn, Grouplove, The Beatles
Quick Hits: Guns N' Roses, Christina Aguilera, Meat Loaf, Suicide Squad soundtrack
FMQB NOW

Brad Savage, PD
WAPS/Akron

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!