Friday the FCC dismissed John Malone's company to take control of Sirius XM Radio. Liberty has a 40% stake in Sirius XM and, much to the dismay of Mel Karmazin, applied to the FCC to take "defacto control." Liberty acquired its 40 percent stake in 2009 as part of deal in which it loaned the satellite radio provider $530 million to help it avoid bankruptcy. The FCC said the Liberty application was not sufficient to show it was in control of the company. Liberty was not able to get passwords, signatures and other information from Sirius XM to properly submit its application, the FCC said. Add a Comment Send This Story To A Friend
