Wednesday, April 23, 2014
Advertisement:
What is RSS/XML?
Subscribe to FMQB News.

Liberty Media Proposes Plan To Own All SiriusXM Shares
January 6, 2014

Liberty Media is proposing a plan to make SiriusXM Radio a wholly owned subsidiary of the conglomerate. Liberty already owns a controlling stake in the satcaster, but if shareholders approve the plan, all outstanding shares of common stock of the Company not owned by Liberty would be converted into the right to receive 0.0760 of a new share of Liberty Series C common stock. In a press release explaining the proposal, Liberty indicated that it intends to distribute, on a 2:1 basis, shares of Liberty's Series C common stock to all holders of record of Liberty's Series A and B common stock. Upon the completion of the transaction, Liberty then expects that SiriusXM's public stockholders would own approximately 39 percent of Liberty's then-outstanding common stock.

SiriusXM's Board of Directors is forming a Special Committee of independent directors to consider Liberty's proposal. The deal will then be conditioned on the approval of both the Special Committee and a majority of the public stockholders. 

Liberty chairman John Malone said the deal would "enable us to focus our energies on the pursuit of new opportunities across the expanded portfolio of Liberty's businesses and to optimize our capital structure to produce the maximum possible returns to all shareholders," according to the Hollywood Reporter.




 
Breaking News
CCM+E Announces New iHeartRadio Networks
Emmis Announces Investment in Funkmaster Flex
In Brief - April 22, 2014
FMQB FYI... Links You Should Know About
April 21, 2014
Major Labels Sue Pandora Over Pre-1972 Songs
NBC And Clear Channel Celebrate Music's Biggest Stars At First Ever iHeartRadio Music Awards
Tanch Named Afternoon Host and APD At KHTP/Seattle
In Brief - April 21, 2014
April 17, 2014
Report: Two-Thirds See Radio As Local
L & L And Alpha Merge As Alpha Media
In Brief - April 17, 2014
FMQB FYI... Links You Should Know About
April 16, 2014
BIA/Kelsey Says "The Internet Radio Revolution Has Arrived"
In Brief - April 16, 2014
April 15, 2014
Alan Chartrand Named Market President For CCM+E-Boston
CBS Radio New York SVP Market Manager Don Bouloukos To Retire
In Brief - April 15, 2014
April 14, 2014
CCM+E Research Report: The Power of Personality
In Brief - April 14, 2014
April 11, 2014
The Week In Review: 4/7-4/11
eQB NOW
Major Labels Sue Megaupload
In Brief - April 11, 2014
FMQB FYI... Links You Should Know About
Music News
Eminem, Pearl Jam & Outkast To Headline ACL Music Festival
FMQB Photo Pass: Christina Perri
Quick Hits: Lorde, Kings of Leon, Katy Perry, Jack White, Outkast
More Surprises At Coachella's Second Weekend
Quick Hits: Miley Cyrus, Prince, Gwen Stefani, Christina Aguilera, Guns N' Roses, Foo Fighters, Little Mix, Broken Bells, Maxwell
Prince And Warner Bros. Records Unveil New Partnership
Grohl & Novoselic Talk Nirvana's Hall Of Fame Night
Quick Hits: Coldplay, Forbes' wealthiest rappers, American Idol, Beck, The Whigs
AC/DC Will "Continue To Make Music"
Frozen Soundtrack Still Rock Solid In Sales
Quick Hits: Miley Cyrus, Jay Z & Beyonce, Made In America festival, Paul McCartney, The Who, Golden Gods Awards
Is AC/DC Really Retiring?
Quick Hits: Nirvana, Imagine Dragons, 2 Chainz, Muse, The Rolling Stones
Coachella Boasts Star-Studded Cameos In Weekend One
Quick Hits: Ed Sheeran, Lana Del Rey, Smashing Pumpkins, Janelle MonŠe & Kimbra
FMQB NOW

Nick Petropoulos
Glassnote Entertainment
Group

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!