Sirius XM Keeps It in the Liberty Media Family

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Sirius XM Radio (NASDAQ: SIRI  ) is shaking up its board for the second time this year.

Liberty Media (NASDAQ: LMCA  ) is making sure that everyone knows that it's the one calling the shots, as Liberty Media CEO Greg Maffei will replace Los Angeles Times CEO Eddy Hartenstein as chairman of the satellite radio provider. Hartenstein will remain on the board as its lead independent director.

There will also be two changes from the board appointments that Liberty announced earlier this year.

It was disclosed in an SEC filing last night that Liberty Media mastermind John Malone, and executive Charles Tanabe, won't stand for re-election during next month's annual shareholder meeting. Malone has been on the board since Liberty Media offered Sirius XM critical financing support four years ago. Tanabe has only been on the board since January.

Dr. Evan Malone -- John's son -- and Discovery Communications CEO David Zaslav will step in for the two departing board members.

They have to be voted in next month, but who are we kidding? Liberty Media does have majority control of the company.

Critics will argue that there are too many board members with connections to Liberty Media, but it's not as if the eclectic media empire would do anything to sabotage Sirius XM. It has more at stake in the company than everybody else combined.

Next month's annual shareholder meeting -- on May 21 -- will definitely be an interesting one. The market still isn't sure about Liberty Media's intentions now that it has gained control of the thriving satellite radio provider.

A little color will be welcome, especially as the shares are within sight of a fresh five-year high.

Sirius respect
Despite Sirius XM being one of the market's biggest winners since bottoming out three years ago, there's still some healthy upside to be had if things go right for it -- and plenty of room for it to fall if things don't. Read all about Sirius in The Motley Fool's brand new premium report. To get started, just click here now.

Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On April 11, 2013, at 9:58 PM, fawazmn wrote:

    Rick Rick Rick, you gv been covering this stock for many many yrs.. you were bear but later you turned bull. I love love you man.

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2359520, ~/Articles/ArticleHandler.aspx, 10/1/2016 6:28:13 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 9 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/30/2016 4:00 PM
SIRI $4.17 Up +0.03 +0.60%
Sirius XM Radio CAPS Rating: **