• The Associated Press, Friday, May 1, 2009 10:45 AM

Satellite radio provider Sirius XM Radio has adopted measures that would make it less attractive to buy chunks of company stock without board approval. The company says the poison pill-type plan is designed to protect its ability to carry forward existing losses to offset future earnings and reduce its federal income tax liability, per a SEC filing.

Under the plan, the radio company will give its shareholders of record as of May 11 one "right" for every share of common stock they own. Each fractional share of the preferred class would give the stockholder about the same voting and other rights as a share of common stock -- and would drastically dilute the value of an entity trying to buy a mass of Sirius XM Radio shares.

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