SiriusXM, Liberty Media Execs Defend Buy-Out Plan
January 8, 2014

On Tuesday, top executives at SiriusXM and Liberty Media defended a plan by the conglomerate to wholly absorb the satellite radio company for $3.68 a share, a price that some investors (such as Ralph Nader) consider to be too low. SiriusXM CEO Jim Meyer reminded Wall Street analysts during a session at the Citi Internet, Media and Telecommunications conference in Las Vegas that Liberty has been a stakeholder in SiriusXM for five years and that some Liberty executives are SiriusXM board members.

"It works great," he explained, according to the Hollywood Reporter. "There's no drama here. Liberty won't do the deal -- which I think, by the way is great -- without the majority of the minority shareholders approving. And I think that's all there is to say."

Liberty CEO Greg Maffei also spoke at the conference and said the deal would lead to "a more rational capital structure going forward." While it would give Liberty more access to Sirius XM's cash flow, it doesn't mean that Liberty is preparing to purchase another cable TV company, as has been speculated, Maffei assured. He added that a clean acquisition of SiriusXM also will help the satcaster compete in an era where the Internet and iTunes are available in automobiles.

Meanwhile, former DirecTV and Tribune CEO Eddy Hartenstein has been tapped to lead a special committee that will evaluate the proposal, which involves creating a Liberty Series C stock that would be traded for SiriusXM shares. The deal will be conditioned on the approval of both the special committee and a majority of the public stockholders.




 
Breaking News
Chris Kampmeier Announces Retirement, Rick Everett Named RVPP/iHeartMedia North Florida
HBO Documentary on Jimmy Iovine & Dr. Dre Coming Soon
Eleven Seven Music Group Appoints Steve Kline As CEO, Expands Staff
December 8, 2016
Warner Music Group Reports Fourth Quarter & Full Year Results
Coleman Insights Names Jessica Lichtenfeld as Associate Consultant
December 7, 2016
iHeartMedia-Indianapolis Names Brad Polston Market President
SFX Entertainment Rebrands As LiveStyle, Inc.
Lux Moves to Morning Drive at NOW 96.3/St. Louis
Alpha Media Names Chelsea Thomas New Morning & Middays Host/MD For WDJX/Louisville
December 6, 2016
Cumulus Media Lafayette Names Scott Chiasson VP/Market Manager
Capitol Music Group Promotes Jeff Temske To SVP/Streaming, Strategy & Research
Jeff Kapugi Exits WUSN/Chicago & CBS Radio VP/Country Programming Post
iHeartMedia Atlanta Debuts DJ Scream & Hoodrich Radio Broadcasted On 92.3 & 96.7 The Beat
WMMR's Preston & Steve Camp Out for Hunger Receives Record-Breaking Food Donations
December 5, 2015
Delilah To Be Inducted Into NAB Broadcasting Hall Of Fame
Interscope Records Continues to Roll in 2016
Liz Morentin Named Executive VP/Comms and Media At Warner Bros Records
December 2, 2016
CBS Radio Elevates Tracy Brandys To SVP/Market Manager & Director/Sales, Baltimore
WKST/Pittsburgh's Stuff A Bus Fills 57 Buses With Toys For Toys For Tots
Dan Dalton and Roc Nation Form Management Partnership
December 1, 2016
iHeartMedia Launches On-Demand Streaming Services
105.1 The Bounce/Detroit Announces On-Air Lineup
November 30, 2016
Alpha Media Names Ronnie Stanton VP/Programming
Music News
Greg Lake of Emerson, Lake & Palmer Passes Away
Quick Hits: Taylor Swift, Zayn, Tom Petty & The Heartbreakers
Quick Hits: Lady Gaga, Forecastle Festival, Ryan Adams, We Rock with Standing Rock concert
FMQB Retro-Active: Ken Sharp Revisits the Iconic Album Pet Sounds, and Delves Into New Music with Joyous Wolf
Beyoncé Leads 59th Annual Grammy Nominees
The Weeknd's Starboy Rises to the Top
Quick Hits: Justin Bieber, Guns N' Roses, Carolina Rebellion & Welcome to Rockville, Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest
Prince Documentary, Celebration on the Way in 2017
Quick Hits: Alessia Cara, Lady Gaga, Dead & Company
Quick Hits: J. Cole, Bon Jovi, Grouplove, Kid Cudi, ABC's Dick Clark's New Year's Rockin' Eve
Metallica Earn Sixth #1 Album on Billboard 200
Quick Hits: Taylor Swift, Rock On The Range, Kelly Clarkson
Quick Hits: Grammy Hall Of Fame, Soul Train Awards, Guns N' Roses
Justin Bieber and Drake Top 2016 American Music Awards
Quick Hits: Bruno Mars, Adele, The Weeknd, Chance The Rapper
FMQB NOW

Ross Mahoney, PD
KXTE, Las Vegas



Question Of
The Week

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!