SiriusXM Stockholders Challenge John Malone In Court
August 30, 2013

SiriusXM shareholders argued in court this week that Liberty Media head John Malone acquired control over the satcaster via an unfair agreement. According to Bloomberg, attorney Mark Lebovitch made the shareholders' case in a Delaware courtroom earlier this week, claiming Malone unfairly used an investment agreement to take control of SiriusXM, without paying a premium or allowing investors a vote in the matter#

"Malone wanted to enjoy all the economic benefits of being a controlling shareholder without having any of the responsibilities," Lebovitch told Delaware Chancery Court Judge Leo Strine at a hearing in Wilmington, DE. Bloomberg says that Strine will rule at a later date on whether the investors’ claims should proceed.

However, lawyers representing Liberty executives and former SiriusXM directors say that the satcaster shareholders' claims should not count, because they revolve around a 2009 agreement where Sirius' directors traded away defenses against the takeover in exchange for a cash infusion from Liberty Media.

"The time to assert these claims has come and gone," said Liberty's attorney Donald Wolfe.




 
Breaking News
Cumulus Goes Underground Alternative In New Orleans
August 26, 2015
Subaru Embraces HD Radio Receivers
Cort Johnson Named APD/Morning Co-Host on 101.9 KINK/Portland
Howard Stern Presents "Booey 25" On SiriusXM Channels
August 25, 2015
Sony Music Entertainment Acquires Century Group
UMG Names Jeffrey Remedios President & CEO/Universal Music Canada
Where Hip Hop Lives App Now Available to International Audiences
August 24, 2015
Leslie Scott Named Program Director Of KNDD/Seattle
Rdio Launches “Promoted Music Experiences” With Hard Rock Hotels & Casinos
Report: Radio Has 30 Million Amplifiers Nationwide
In Brief - August 24, 2015
August 21, 2015
eQB NOW
Entercom South Florida Launches New Alternative Rock 104.3 The Shark
In Brief - August 21, 2015
August 20, 2015
Nielsen Study Shows The Power Of Small & Medium Sized Markets
MoBounce Named Afternoon Host For Z100/New York
In Brief - August 20, 2015
August 19, 2015
New Study Measures Advertiser Perception vs. Reality
Go Media/Minneapolis Names Miles Anzaldo MD At Go 96.3
Deanna Regalado Joins 95.7 The Party to Co-Host The JJ Kincaid Morning Show
MIW Radio Group Names Kim Guthrie Recipient Of Trailblazer Award
In Brief - August 19, 2015
August 18, 2015
Report: Where Americans Go to Discover Music
Music News
Demi Lovato Feeling "Confident" on Fifth LP
Quick Hits: Justin Bieber, Mariah Carey, Omarion, Soundgarden
Pharrell, Demi Lovato & More Added To MTV VMAs Lineup
Quick Hits: Lady Gaga, HBO, Maroon 5, Nick Jonas
MTV To Honor Kanye West
Quick Hits: One Direction, Missy Elliott / The Voice, Azealia Banks, Meg Myers, Coheed and Cambria, Ben Folds
Dr. Dre Issues Apology To "The Women I've Hurt"
Quick Hits: Taylor Swift, album sales, Charli XCX & Bleachers, Chris Brown, Bon Jovi, Voodoo Music + Arts Festival
Quick Hits: JoJo, Kanye West / Frank Ocean, Carrie Underwood, Charlie Puth, The Neighbourhood
The Weeknd Announces The Madness Fall Tour
Quick Hits: Lana Del Ray, Alanis Morrissette, Kelly Clarkson, Silversun Pickups
Nick Jonas & Demi Lovato To Headline MTV Benefit Concert For Lifebeat
Pharrell, One Direction Join Apple Music Festival
Quick Hits: Rita Ora, Selena Gomez, Nickelback, Disney hits compilation, iHeartRadio Fiesta Latina, Bonnaroo 2016
Luke Bryan Beats Dr. Dre For #1 Album Slot
FMQB NOW

Mike McVay
SVP/Content & Programming
Cumulus Media

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!