Go Symbol Lookup
Loading...

>> View AllResults for ""

 Enter multiple symbolsseparated by commas

 London quotes now available

Media

Sirius CEO Karmazin Plans to Leave Feb. 1

 Text Size  
Published: Tuesday, 23 Oct 2012 | 5:13 PM ET
By: CNBC.com with AP

Sirius XM CEO Mel Karmazin plans to step down on Feb. 1 from the satellite radio company, which is expected to be acquired by Liberty Media.

Karmazin had said earlier this year that he would leave because of the pending Liberty takeover.

Liberty already has the equivalent of nearly 48 percent of Sirius XM, though the takeover still has to be approved by federal regulators.

Liberty rescued Sirius XM from near-bankruptcy in February 2009 by lending it some $530 million in exchange for a 40 percent stake.

Since then, Sirius XM has stabilized. As of the end of June it had more than 22 million subscribers.

—AP contributed to this report.

 Print
Sirius XM CEO Mel Karmazin plans to step down on Feb. 1 from the satellite radio company, which is expected to be acquired by Liberty Media.

Related

   
Comments

 

More Comments

 
 

Add Comments

 

Your Comments (Up to 1100 characters):

Remaining characters
Preview Comment

CNBC welcomes your contribution. Please respect our community and the integrity of its participants. CNBC reserves the right to moderate and approve your comment.

Your comments have not been posted yet.

Please review your submission to make sure you are comfortable with your entry.

Your Comments:


                
            

                Edit Comment
            

            

                Submit Comment
            

        
         
    
  





	    

	

    

        
        

            

            

        

         



    


	

	

	



			

		


		    
    		Featured
	    
    

		
 
	
    


			


			

			

	        	    	    	    	    		    		    		    	        
	    
    

    	        	


		    
    		Media Money with Julia Boorstin