Having been stymied by the Federal Communications Commission last week in its gambit to take over Sirius XM Radio Inc., Liberty Media revealed its next move on Tuesday bumping up its stake in the companyto 45.2% from 40%. Liberty’s chief executive, Greg Maffei, told analysts in a conference call that his company had a contract in place to buy 302 million shares of SiriusXM for $650 million at $2.15 a share from undisclosed sellers. The price represents a discount to SiriusXM’s $2.17 closing price on Monday, prior to Liberty’s announcement. Continue reading →