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Liberty Media wants Full Control of Sirius XM

The media giant Liberty Media Corp (NASDAQ:LMCA) is seeking to take full control of Sirius XM Holdings Inc. (NASDAQ:SIRI). Liberty Media, which already controls Sirius XM is proposing to purchase all the remaining common shares of Sirius XM. Liberty current controls 52 percent of Sirius XM. The proposed acquisition would all be in stock and valued at more than $10 billion. Under the proposed deal, Liberty Media will convert Sirius XM shares into class C shares of Liberty Media stock. After the deal goes through, existing Sirius XM shareholders will have a 39 percent non-voting stake in Liberty Media.