FCC Approves Liberty Media Taking Control of SiriusXM Radio

The Federal Communications Commission granted Liberty Media its approval to finish its takeover of SiriusXM.

Liberty has been buying shares of the satellite radio company for the past few years. The transfer is expected to be complete within 60 days. Sirius has 23.4 million subscribers and rose to profitability in 2010 after more than 10 years of losses. Its radios are installed in about two-thirds of all new automobiles sold in the United States.