Liberty Media (Nasdaq: LMCA) keeps drawing closer to taking majority control of Sirius XM Radio (Nasdaq: SIRI).

An SEC filing on Tuesday night showed that Liberty Media has been diving into the open market to snap up shares of the satellite-radio provider and enter into another forward purchase contract. It now has an effective 48% stake in the growing media giant.

Liberty Media was pushing for de facto control earlier this year, but after being rebuffed by regulators it's apparently out to acquire that majority stake on its own.

The likely plan is for Liberty Media to spin off the stake in a tax-advantaged manner that's possible if it has control of the company. As the drama plays itself out, shares of Sirius XM Radio hit a four-year high.

Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.

  • Wal-Mart (NYSE: WMT) is ready to become a larger player in China's booming e-commerce market. The world's largest retailer received regulatory approval to increase its 18% stake in Chinese e-tailer Yihaodian to a majority position of 51% of the dot-com speedster.
  • Facebook (Nasdaq: FB) shares slipped to an all-time low -- even though we're only talking about a three-month trading history -- after lockup restrictions began to expire, freeing some early investors to flood the market with their shares.
  • Netflix (Nasdaq: NFLX) has identified its next overseas market. The streaming video service will make its debut later this year in Finland, Sweden, Denmark, and Norway. The Scandinavian expansion may come as a surprise, but with more than 30 million global subscribers, it's hard to argue with the company's appeal. The battered stock, on the other hand, can use some of that appeal.

Moving on
Now that you've had a glimpse of the past, let's delve into the future. A new report details the latest Rule-Breaking multibagger that has earned Fool co-founder David Gardner's attention. The report is free, and you're closer to it than you might think. Check it out now.

I also just put out a premium report on Sirius XM Radio, detailing the challenges and opportunities that await investors that are both long and short the dynamic media giant. A year of updates is also included with the report. Check it out now, too.

The Motley Fool owns shares of Facebook and Netflix. Motley Fool newsletter services have recommended buying shares of Facebook and Netflix. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Longtime Fool contributor Rick Munarriz calls them as he sees them. He owns shares of Liberty Media and Netflix and is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Motley Fool has a disclosure policy.