Liberty Media Corp. has added its picks to the board of Sirius XM Radio Inc. after gaining majority control of the satellite radio company. <\/p>\n
Sirius board members Leon Black, Lawrence Gilbert and Jack Shaw resigned from the board Friday, according to a regulatory document filed with the Securities and Exchange Commission on Tuesday. <\/p>\n
They will be replaced by Liberty picks: Mark Carleton, a senior vice president at Liberty; Robin Pringle, a vice president of corporate development at Liberty; and Charles Tanabe, Liberty's retired general counsel. James Meyer, current CEO of Sirius, also joins the board following the resignation of former Sirius CEO Mel Karmazin. <\/p>\n
Liberty, run by cable magnate John Malone, saved Sirius from near-bankruptcy in 2009. Since then, it had slowly amassed more shares in the company. It bought enough shares last week to finally secure a more than 50 percent stake in the company. <\/p>\n
The Englewood, Colo., company has long said it would replace some Sirius board members if and when it was able to take over the company. <\/p>\n
Shares of Sirius fell 1 cent to $3.15 by early afternoon. Liberty Media's shares fell 18 cents to $110.37. <\/p>\n
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Sirius XM board changes under Liberty<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Liberty Media Corp. Continue reading