Investors Buying Up Sirius Stock

  • August 24, 2012

Investors are buying up Sirius XM Radio stock ahead of a potential share buyback, reports Reuters. However, some analysts counsel waiting until there is clarity on how Liberty Media plans to operate the satellite radio company. Liberty Media filed a petition with the FCC last Friday to take control of Sirius XM. Liberty, led by billionaire Chairman John Malone, acquired an initial stake of about 40% of Sirius in 2009. It has been acquiring more shares in the open market in recent months.

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