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Liberty Gets Love From The FCC
1-3-2013
Liberty Media is another step closer to taking over SiriusXM. Thursday, Liberty received regulatory approval from the FCC (SiriusXM uses satellite licenses granted by the FCC). Liberty Media CEO John Malone has said he plans to spin SiriusXM off into its own company. In 2009, Liberty helped the company avoid bankruptcy with a $530 million investment. The deal also gave Liberty 40 percent stake in Sirius. They've been buying up more shares to get over the 50 percent mark so they could take control.