Sirius XM Holdings Inc (SIRI)

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Search for Sirius CEO to Take Months .
By JOHN JANNARONE (WSJ Article)

The search for a chief executive officer to replace Mel Karmazin at Sirius XM Radio Inc. SIRI -0.71%could extend well into next year, Liberty Media CEO Greg Maffei said Tuesday.

"We are both looking at internal and external candidates," Mr. Maffei said on a conference call following Liberty's third-quarter results announcement. "It's unlikely to be a one-month process. I would hope it would be six [months] or less."

Liberty, the media-investment company controlled by mogul John Malone, owns slightly less than 50% of Sirius shares. Mr. Maffei is a director of Sirius and head of the search committee.

Mr. Karmazin announced his resignation as CEO of the satellite-radio operator two weeks ago and plans to depart on Feb. 1.

Liberty has applied for permission from the Federal Communications Commission to take control of the satellite radio broadcaster.

Mr. Maffei said on Tuesday's conference call that only one petition to deny Liberty's application has been filed thus far. The period in which people could file objections has ended although the full comment period won't close until Nov. 20. The FCC may take another several weeks after that to reach a decision.

Liberty has made clear it wants Sirius to return cash to shareholders, with most observers expecting a buyback. On the call, Mr. Maffei said a dividend is also "on the table."