Liberty Increases Sirius XM Stake To 48%

John Malone’s Liberty Media has increased its stake in Sirius XM Radio to about 48% from 46.2%, the Wall Street Journal reported tonight. Liberty disclosed in an evening filing that it had bought roughly 90 million Sirius shares recently for about $2.50 each or $225 million in total. That and another transaction involving an additional 41 million shares raise Liberty’s effective stake to 48%. Liberty has asked the FCC for permission to take control of the company, but Serious has opposed the application. If Liberty increases its stake to more than 50% it would have clear control of the company, allowing Liberty to replace Sirius management and possibly take other actions such as spinning off the satellite radio broadcaster to Liberty shareholders.

Related: Sirius XM’s Mel Karmazin Hints He Might Be Willing To Work For John Malone

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