Liberty Media Corp on Friday said it would offer to purchase out the minority shareholders in satellite radio provider Sirius XM Holdings Inc, in a deal that could give cable mogul John Malone a freer hand in driving cable consolidation.Liberty, which has a large stake in cable operator Charter, has made no secret of its pursuit of No. 2 cable provider Time Warner Cable Inc. Liberty Media Chief Executive Officer Greg Maffei said that Friday's offer to make Sirius XM a subsidiary gives holding company Liberty the financial flexibility to pursue other deals.Liberty's Maffei said in an interview that one scenario this deal allows for could be for Liberty to acquire more Charter stock. It currently owns 27 percent of Charter shares.Maffei said that some think Charter has to maintain a high percentage of Charter stock "so it becomes a good operating asset for us and not an investment company asset."
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC fell by 0.33% or $-0.44/share to $133.40. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2542140 shares of TWC exchange hands on a given day and today's volume is recorded at 1281094.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.09% or $-0.06/share to $68.67. In the past year, the shares have traded as low as $48.55 and as high as $70.77. On average, 4168960 shares of TWX exchange hands on a given day and today's volume is recorded at 2507357.
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