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Sirius XM Holdings Inc. Message Board

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  • wall_st_knight_mare wall_st_knight_mare Aug 17, 2012 7:43 PM Flag

    Sirius XM Could Rally 25%


    Liberty acquired its initial stake in Sirius in 2009 as part of a deal in which it loaned the satellite radio provider $530 million to help it avoid bankruptcy. Though it has been buying Sirius XM shares on the open market in recent months, the bulk of its stake is in the preferred shares it acquired in the 2009 transaction.

    Liberty is planning on converting those preferred shares into common stock, but said it will not convert them above the 50 percent ownership threshold until the FCC accepts its application to take control. The company said it would be able to convert its shares within 60 days of the FCC granting its application.

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