SiriusXM Ownership Reorganization Seeks FCC Approval

As part of a reorganization of SiriusXM's ownership structure, Liberty Media is asking the FCC Space Bureau for approval of a pro forma transfer of control of Sirius XM and its licenses. In a bureau application posted Tuesday, Liberty said the people who control Liberty Media, which has a controlling interest in Sirius XM, will also run New SiriusXM directly through the transaction. It said the simplified New Sirius XM ownership structure, with a single class of stock shares, should attract a broader investment base. New SiriusXM's formation was announced in December.