Liberty to Convert Shares to Gain Control of Sirius

Liberty Media Corp.’s cold war with Sirius XM Radio Inc. Chief Executive Mel Karmazin just turned hot.

Liberty said Thursday it intends to convert half the preferred stock it owns in Sirius into common shares, giving Liberty a total of 32 percent of the common stock. Liberty also said, In a filing with the Securities and Exchange Commission, that it would “as soon as practicable” move to take control of the satellite-radio broadcaster’s board.

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