Is it possible that Sirius XM (SIRI +0.9%) is close to initiating a share buyback that would put Liberty Media (LMCA +0.1%) in control? That's the question posed by SA author Crunching Numbers after sizing up the $400M senior note offering the company floated last week. Liberty doesn't want over 80% of the Sirius because that would trigger a loss of tax credits, but a 50.01% stake would probably suit it just fine.
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