FCC rejects Liberty Media bid for Sirius XM control

(Reuters) – A federal regulator dismissed John Malone's Liberty Media Corp's application to take control of Sirius XM Radio Inc with its current stake of 40 percent. Friday's decision by the U.S. Federal Communications Commission came after Liberty Media, Sirius XM's largest shareholder, in March requested approval to take over the company's operating licenses, arguing that it had de facto …

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