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Liberty Plans to Take Control of Sirius

Today Liberty Media filed an application with the FCC for Consent to Transfer Control. Sirius says it will fully cooperate with the commission as it evaluates the application. In the application, Liberty indicates it “intends to purchase sufficient additional shares of Sirius common stock such that, upon conversion of its Preferred Shares, it will own more than 50% of the total outstanding shares of Sirius” Liberty Media also noted that it will “have purchased sufficient shares of Sirius’ common stock and will convert its Preferred Shares such that the transfer of control will be completed within 60 days of Commission consent.”

More coverage here from the Wall Street Journal