Liberty Media agrees to raise stake in SiriusXM to 45.2%

Liberty Media (LMCA) reported earlier that the company entered into a forward purchase contract for 302M shares of SiriusXM (SIRI), with a forward price of $2.15 per share for a total notional amount of $650M. If physically settled, the purchase will increase Liberty’s ownership of SiriusXM to 45.2% on an as-converted basis.