Liberty Media Could Announce Spin-Off of Sirius (SIRI) Stake at Investor Meeting

Sirius XM Radio (Nasdaq: SIRI) shares are trending higher early Thursday ahead of Liberty Media's (Nasdaq: LINTA) Investor Day. The event is expected to happen Thursday morning, with a presentation available at 11:30am EST.

According to reports, John Malone, Chair of Liberty Media, may elect to spin-off its investment in Sirius XM (Nasdaq: SIRI), a stake it received in helping Sirius out of bankruptcy a few years ago.

Sirius CEO Mel Karmazin will also be presenting at the event.

With Liberty announcing the elimination of the Starz (Nasdaq: LSTZA) tracking stock earlier Thursday -- a move some speculate will disappoint investors -- spinning off Sirius might be even more likely.

In its latest quarterly filing, Liberty reported holding more than 40 percent of Sirius with a market value of about $3.906 billion.

Sirius is up about 3 percent early Thursday.

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