August 17, 2012 |
Liberty Media informed the Securities and Exchange Commission on Friday that it had acquired more than 48% of Sirius XM Radio's shares and intends to push that amount above 50% in order to take control over the New York satellite radio company. Liberty disclosed the plan several months after it failed to persuade the Federal Communications Commission to grant it control over Sirius based on its ownership of 40% of the company's shares. Sirius' chief executive, Mel Karmazin, rebuffed the takeover attempt at the time, saying Liberty's argument that its 40% stake was sufficient to gain control was akin to proclaiming "Forty is the new 50. " Liberty's chairman, John Malone, might have taken that barb to heart.
October 23, 2012 |
Sirius XM Radio Inc. Chief Executive Mel Karmazin will resign from the satellite radio broadcaster on Feb. 1. The move was not unexpected. Liberty Media, the largest shareholder in SiriusXM, is in the process of taking control of the company and Karmazin had previously indicated he would likely leave as a result. Karmazin's contract with SiriusXM expires at the end of this year. He said he is staying on an additional month to ensure a smooth transition. He will also resign from the SiriusXM board.
December 19, 2012 |
After the coffee. Before packing in case the Mayans are right. The Skinny: It's cold here! What's up with that? Wednesday's headlines include Time Warner Cable dropping the little arts channel Ovation and a review of "Zero Dark Thirty. " Also, satellite radio broadcaster Sirius XM names a new interim chief executive. Daily Dose: If you can't find a big TV to watch the Super Bowl, fear not. The NFL will again make the big game available. Also being streamed will be the wild card playoff games and the Pro Bowl.
February 14, 2009 |
The nation's only -- and ailing -- satellite radio company is drawing interest from two moguls of space-based entertainment. Sirius XM Radio Inc. said Friday that it might be forced to file for bankruptcy as early as Tuesday if it fails to restructure its debt. As the deadline nears, speculation is growing of a possible bidding war over the company, which was formed last summer by the merger of Sirius Satellite Radio and XM Satellite Radio.
March 30, 2008
As an XM subscriber, I wish I shared David Lazarus' enthusiasm for the Sirius-XM merger. ("Listening to reason on radio merger," Consumer Confidential, March 26.) It seems awfully naive of him not to believe that prices will rise substantially over time in otherwise seemingly painless increments, just as they have with cable TV. As for a la carte pricing, my prediction is that the least-ordered channels will be jettisoned for lack of interest. Joel Engel Westlake Village If our Justice Department truly believes a Sirius-XM merger will be good for the customer, I'd like to have some of what they're smoking.
November 6, 2009 |
Reggie Jackson remembers hitting the home run, rounding the bases, looking up and seeing a shower of candy bars. It was April 1978, and the New York Yankees had welcomed fans to their home opener by handing out Reggie! bars, a chocolate, caramel and peanut confection named after the Yankees' slugger. How good was the Reggie! bar? Jackson's teammate, Catfish Hunter, famously remarked that when you take a bite out of one, it tells you how good it is. But when Jackson looked up and saw that torrent of chocolate rain, he wasn't sure that commendation was enough.