Liberty Media bids for full ownership of Sirius XM

Jan 04, 2014 by The Associated Press

Liberty Media wants to take full ownership of Sirius XM in a deal that would value the satellite radio service at nearly $23 billion.

Englewood, Colo.-based Liberty Media Corp., a media holding company, already owns 53 percent of Sirius XM Holdings Inc.'s outstanding shares, according to a regulatory filing Friday.

Liberty is offering to exchange some of its Series C common stock for the rest of Sirius XM's shares.

The swap translates into $3.68 for each Sirius XM share, based on Friday's closing price of Liberty Media's stock. The bid is just 3 percent above Sirius XM's Friday closing price of $3.57 per share.

The offer values New York-based Sirius XM at just under $23 billion, based on company's 6.1 billion outstanding shares as of Oct. 22.

Explore further: Sony, Universal, Warner sue SiriusXM for royalties

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Liberty to boost stake in Sirius XM to 45 pct

May 08, 2012

(AP) -- Billionaire John Malone's Liberty Media Corp. said Tuesday that it will spend $650 million to increase its effective control of satellite radio company Sirius XM Radio Inc. to 45.2 percent.

Sirius XM earns small profit in 4Q

Feb 25, 2010

(AP) -- Sirius XM Radio Inc. on Thursday posted a small profit for the fourth quarter as it added subscribers and cut costs.

Recommended for you

Venture investments jump to $9.5B in 1Q

2 hours ago

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.

Weibo IPO below expectations, raises $285.6 mn

Apr 17, 2014

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

Apr 17, 2014

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

User comments : 0

More news stories

Hackathon team's GoogolPlex gives Siri extra powers

(Phys.org) —Four freshmen at the University of Pennsylvania have taken Apple's personal assistant Siri to behave as a graduate-level executive assistant which, when asked, is capable of adjusting the temperature ...

Venture investments jump to $9.5B in 1Q

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.

White House updating online privacy policy

A new Obama administration privacy policy out Friday explains how the government will gather the user data of online visitors to WhiteHouse.gov, mobile apps and social media sites. It also clarifies that ...

Male monkey filmed caring for dying mate (w/ Video)

(Phys.org) —The incident was captured by Dr Bruna Bezerra and colleagues in the Atlantic Forest in the Northeast of Brazil.  Dr Bezerra is a Research Associate at the University of Bristol and a Professor ...

Scientists tether lionfish to Cayman reefs

Research done by U.S. scientists in the Cayman Islands suggests that native predators can be trained to gobble up invasive lionfish that colonize regional reefs and voraciously prey on juvenile marine creatures.