Sirius XM and Liberty Media deal imminent

On Monday night, Mr. Karmazin was near a deal to pull off the impossible: he had coaxed Mr. Malone of Liberty Media, which owns DirecTV — and who is a fierce rival of Mr. Ergen’s — to be his white knight and agree to invest hundreds of millions of dollars in the company in exchange for several board seats and a minority stake for just under half the company, according to people involved in the negotiations.

New York Times

*Edit

SAVED:

Sirius XM Radio and Liberty Media say they have signed a deal in which Liberty will invest $530 million in the financially struggling satellite radio company.

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