Liberty Media (LMCA) Files App With FCC for Du Jure Control of Sirius (SIRI)
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On August 17, 2012, Liberty Media Corporation (Nasdaq: LMCA) filed with the Federal Communications Commission an Application for Consent to Transfer of De Jure Control. In the Application, Liberty Media indicates, among other things, that it “intends to purchase sufficient additional shares of Sirius (Nasdaq: SIRI) common stock such that, upon conversion of its Preferred Shares, it will own more than 50% of the total outstanding shares of Sirius….” Liberty Media also noted that it will “have purchased sufficient shares of Sirius’ common stock and will convert its Preferred Shares such that the transfer of control will be completed within 60 days of Commission consent.”
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