Sirius XM hires advisers for Liberty bid

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Associated Press

Posted on January 24, 2014 at 3:01 PM

Updated Friday, Jan 24 at 4:06 PM

NEW YORK (AP) — Sirius XM says it has hired financial and legal advisers to help it evaluate Liberty Media's bid to buy all of the satellite radio provider.

Liberty Media Corp., an Englewood, Colo., company controlled by billionaire John Malone, already owns more than half of the New York-based company's shares. It is trying to gain control of the rest of Sirius XM Holdings Inc. in a stock deal that valued Sirius XM at about $23 billion when it was announced earlier this month.

Sirius XM formed a special committee to consider the offer and said Friday that it has hired Evercore Group L.L.C. as a financial adviser and Weil Gotshal & Manges LLP as a legal adviser.

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