There’s a “whole series of technologies” involving Sirius XM’s 2.0 platform...
There’s a “whole series of technologies” involving Sirius XM’s 2.0 platform that needs to be “articulated around a product marketing focus” for Internet radio, Liberty Media CEO Gregory Maffei said Wednesday at a Barclays conference in New York. He touched…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
briefly on Liberty’s bid to gain majority control of Sirius and outlined Liberty’s vision for the company. While Sirius XM’s management is working toward Internet radio, “we would do an accelerated push” using the company’s technology center in Deerfield Beach, Fla., Maffei said “There is a lot of innovative action and progress there and I'm not sure that is as well articulated as it should be,” Maffei said. Liberty Media owns 46 percent of Sirius XM and must show 51 percent ownership to refile with the FCC. The agency, which rejected Liberty’s earlier application because it didn’t own 51 percent, allows 30 days to refile, giving the company a June 3 deadline. Liberty has to buy another 260 million shares to increase its stake to 51 percent, analysts said. Liberty was counting on Sirius XM doing a share buyback to get an additional 4 percent it needs, they said. But Sirius CEO Mel Karmazin said during the company’s annual meeting Tuesday, which was closed to the media, that the satellite radio operator “would not do a buyback if it facilitates Malone getting control,” according to the Wall Street Journal. Karmazin was referring to Liberty Chairman John Malone.