I'll quickly give a quick back of the napkin rundown of what happened of course only in my humble opinion w/o getting into any real specif detail. Worldspace went under in 2008 Liberty stepped in 2009, pumped $$ to keep it alive since then its been both company's cleaning up & Liberty's interest vs Sirius interest. Sirius BOD/Mel was not excited (rightfully so with what Sirius went through). Liberty could not dictate what Sirius HAD to do until post March 2012. Liberty attempts to control de facto, Sirius does not cooperate with the take over Liberty gets denied control. This Converts to 7 to save on bleeding administrative expenses while both sides fight or position for a sale. Liberty goes hostile begins buying control, applys for de jure control, Mel steps down, Liberty gets FCC approval, converts its remaining preferred to voting shares. 2013 Liberty owns 51% Liberty adds board seats + Maffei now has the now newly split chairman roll. Liberty is now in FULL control as of a few weeks ago. Now Sirius is about to reorganize & it was just approved by the FCC last week and here we are today still trading......
