Liberty Media (LMCA) Could Be Gaming for Hostile Takeover of Sirius (SIRI) Licenses
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Both Liberty Media Corp. (Nasdaq: LMCA) and Sirius XM (Nasdaq: SIRI) shares are trading higher Friday following several Federal Communications Commission filings which seem to suggest Liberty might be looking to take "de facto" control of Sirius' licenses.
In three Form 312 documents submitted on March 20th, Liberty showed interest in transferring Sirius' earth station licenses, SDARS terrestrial repeater authorization, and XM Radio's earth station licenses. The filings seem to be an attempt by Liberty to transfer its control of licenses to over 50 percent while at the same time remaining a less than 50 percent shareholder.
Links to the Form 312 submissions: number 1, number 2, and number 3.
A Seeking Alpha article from early this morning highlighting the filings may be adding to upside in Sirius shares Friday morning.
Shares of Sirius are up nearly 4 percent to $2.30 at last check.
In three Form 312 documents submitted on March 20th, Liberty showed interest in transferring Sirius' earth station licenses, SDARS terrestrial repeater authorization, and XM Radio's earth station licenses. The filings seem to be an attempt by Liberty to transfer its control of licenses to over 50 percent while at the same time remaining a less than 50 percent shareholder.
Links to the Form 312 submissions: number 1, number 2, and number 3.
A Seeking Alpha article from early this morning highlighting the filings may be adding to upside in Sirius shares Friday morning.
Shares of Sirius are up nearly 4 percent to $2.30 at last check.
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