Liberty Up To 48.8% Ownership Of SiriusXM
August 29, 2012 at 3:54 AM (PT)
LIBERTY MEDIA is inching closer to 50% ownership of SIRIUSXM's stock in its quest to take over the satcaster. SIRIUSXM reported in a regulatory filing late YESTERDAY (8/28) that LIBERTY has purchased additional stock to take its ownership from 48.1% to 48.8%.
It was 40,460,803 shares that changed hands, and SEEKINGALPHA.COM noted "What was most remarkable about all of this volume was that it was met with little to no price movement. Consider the closing prices of $2.53, $2.54, and $2.54. Usually when such large numbers of shares pass through a day's trading, it is accompanied by some sort of movement in the stock. Usually. That's the key word here. LIBERTY's buying, this time, had seemingly no impact on the share price of SIRIUSXM at all."
Keep Up To Date With Our Industry's Financials
To keep tabs on radio stocks, head for the ALL ACCESS STOCK PAGE, then scroll down through the radio stocks the ALL ACCESS COMPOSITE and other quotes in the INDUSTRY-RELATED INDEX.