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
Rodney on the Roq Ending After Over 4 Decades
iHeartMedia Names Kix Layton SVP/Programming For Greenville
PK's Throwback 105.5 Brings Old Skool Hip Hop And R&B To South Florida
iHeartMedia St. Louis Announces The Debut Of The New Majic 103.7
May 26, 2017
CBS Radio Promotes Shelly Easton and Bobby Smith in its Philly Cluster
iHeartMedia Names Brian Hall SVP of Programming for Ashville
Albie Dee Promoted To OM For Adams Radio Group, Salisbury/Ocean City, MD
May 24, 2017
RCA Records Promotes Joe Daddio To VP/Pop Promotion
iHeartMedia Names Rob Whiteside Digital PD For Virginia/Carolina Region
WBEN/Phiadelphia's Matt Cord & Kristen Herrman To Host National Dog Show Charity Walk
iHeartMedia Hartford Names Kelsey Maxon Digital PD
INSIGHTS: What Radio Can Learn from the TV Upfronts
Cumulus Media Adds Jay Philpott To Nights At KQRS/Minneapolis
Margaret Ann Ronayne NYC Memorial Service on June 8th
May 23, 2017
Beasley Media Group Unveils New Format Captains
iHeartMedia Austin Debuts New Spanish Top 40 Station TU 103.1
CBS Radio Officially Names John Farneda MD At WXRT/Chicago
In Brief - May 23, 2017
May 22, 2017
CBS Corporation Extends Chairman/President/CEO Les Moonves
KDMX (102.9 NOW)/Dallas Adds Kannon In Afternoon Drive
Entercom-Charlotte Signs Contract Extension with Matt & Ramona Show
May 19, 2017
Cumulus Media Oxnard/Ventura Names Matthew "Doughboy" Florence PD For KVYB
Westwood One Presents Backstage at the BBMAs
May 18, 2017
iHeartMedia St. Louis Names Maurice DeVoe PD For KMJM (100.3 The Beat)
Music News
Southern Rock Legend Gregg Allman Passes Away
The World Remembers Gregg Allman
Ariana Grande Releases Statement on Manchester Attack
Quick Hits: Guns N' Roses, Lana Del Rey, Nicki Minaj, Gorillaz, High & Low Festival
Fergie Signs Worldwide Partnership With BMG
Quick Hits: Ariana Grande, Leslie Jones, Jon Bon Jovi
22 Dead in Explosion at Manchester Ariana Grande Concert
Quick Hits: Iggy Azalea, Newport Folk Festival
It's a Sign of the Times: Harry Styles Debuts at #1
Drake Dominates Billboard Music Awards
Chris Cornell's Wife Issues Statement on His Death
Rocker Chris Cornell Dead at 52
The Entertainment World Remembers Chris Cornell
FMQB Photo Pass: Metallica
Katy Perry Announced as First Judge for American Idol Reboot
FMQB NOW

Nicki Farag,
SVP of Promotion,
Def Jam Recordings

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!