Liberty Media wants to convert Sirius XM Holdings, in which it holds a 52% stake, into a fully owned subsidiary. The move would give Sirius shareholders direct equity in Liberty, and give Liberty more potential capital as it pursues "other potential attractive investment opportunities" as well as stock repurchases, according to Greg Maffei, Liberty's president and CEO. Liberty controls 27% of Charter Communications, which is said to be pursuing a takeover of Time Warner Cable.

Related Summaries