Sirius Airs Static in Liberty Clash (corrected)

Sirius XM Radio Chief Executive Mel Karmazin said he resisted John Malone's Liberty Media taking control of the satellite-radio operator partly because he didn't want to report to a majority shareholder.

Sirius XM Radio Chief Executive Mel Karmazin, who has resisted John Malone's Liberty Media taking control of the satellite-radio operator, said he didn't want to report to a majority shareholder. "I want to be held accountable," Karmazin said at Sirius's annual shareholder meeting in New York. "I don't want to be responsible for somebody else making a decision." "Even Warren Buffett" wouldn't be a suitable boss if he controlled the board, Karmazin said. Karmazin said he didn't want Liberty to take control of Sirius without paying a premium. "If John Malone or anyone else wants to buy that stock, there is nothing we can do," he said. "But I don't want them to get control of the company that way without paying a premium."