Investing In Sirius Pays Off For Liberty
November 13, 2009 at 4:24 AM (PT)
LIBERTY MEDIA's investment in SIRIUS XM RADIO (NET NEWS 3/6) has returned more than $1.7 billion in nine months, CEO GREG MAFFEI said.
THE DENVER POST reports LIBERTY, controlled by Chairman JOHN MALONE, loaned $530 million to SIRIUS XM in FEBRUARY and paid $12,500 for a warrant granting a 40% stake.
LIBERTY made "a couple hundred million" from the loans, which have been paid back, and more from its investment in SIRIUS bonds.