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: Silicon Valley shuttle drivers vote to unionize

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

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

Judge orders suspension of WhatsApp in Brazil

Feb 26, 2015

(AP)—A judge says he has ordered the suspension of the globally popular instant messaging system WhatsApp across Brazil because it has allegedly failed to help in an investigation.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.