May 9 John Malone's Liberty Media said
it bought another 60.35 million shares in Sirius XM,
raising its stake in the satellite radio company to 46.2
Liberty Media, which already has a 40 percent stake in
Sirius, has tried to take control of Sirius' business in recent
On Tuesday, the Englewood, Colorado company confirmed it
entered into a forward purchase contract for 302 million shares
of Sirius XM, with a forward price of $2.15 per share for a
total of $650 million.
Executives at Liberty Media had said the company could boost
its stake above 49.9 percent. It already holds five of Sirius
XM's 13 board seats.
Last week, the U.S. Federal Communications Commission
dismissed an application by Liberty Media to take de facto
control of Sirius.
Liberty Media has the right to file a petition for
reconsideration of the application within 30 days. The company
said it has not yet taken any action with respect to such
petition or application.