Karmazin Plans Exit as Liberty Gets Sirius

Mel Karmazin resigned as chief executive of Sirius XM Radio Inc., throwing in the towel after an extended battle with John Malone’s Liberty Media Corp. over control of the satellite-radio broadcaster.

The 69-year-old Mr. Karmazin said he would depart effective Feb. 1, a month after his contract expires. His exit comes as Liberty, which has raised its stake in Sirius to 49.6 percent in recent months, is awaiting clearance from the Federal Communications Commission for approval to exercise control.

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