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  • ezalldee ezalldee Aug 15, 2012 7:58 AM Flag

    Liberty buys more SIRI! SWEET

    Reuters) - Liberty Media Corp (LMCA.O) has bought more shares of Sirius XM (SIRI.O) in recent days, a securities filing showed, as the satellite radio operator's biggest shareholder continues to move ahead with its plan to wrest control of the company.

    Liberty Media, which already held 46.2 percent of Sirius stock, purchased nearly 90 million shares at an average price of $2.50 per share for a total of about $225 million, according to a filing made late on Tuesday with the U.S. Securities and Exchange Commission (SEC).

    Additionally, the company also agreed to buy about 41 million shares of Sirius through a forward purchase contract that expires in October, according to the filing.

    The Wall Street Journal had reported that the latest share purchases has increased Liberty's stake in Sirius to 48 percent.

    Liberty has said in the past that it wants to take over a majority of Sirius' board. Sirius XM said it had not reached an agreement or been informed of Liberty's plans to shake up the board.


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