Sirius XM Radio promotes Meyer to interim CEO (Update)

(AP)—Satellite radio company Sirius XM Radio has named one of its executives, James Meyer, as its interim CEO while it looks for a replacement for Mel Karmazin.

The New York company said Wednesday that its search committee is looking at candidates from within the company, including Meyer, as well as outside the company to fill the CEO post on a permanent basis.

Karmazin had been CEO since 2004, overseeing the 2008 merger between Sirius and its rival, XM Satellite Radio and then leading the combined company. Sirius had said in October that he planned to step down in early 2013. There had long been speculation he would leave because of an expected takeover by Liberty Media Corp.

Meyer, president of sales and operations, will also become a board member.