Sirius XM CEO Mel Karmazin is likely to lose his gig when Liberty Media does, in fact, control the house that Mel built. (As of this writing, Liberty owns just .4 percent shy of the 50.1 percent it needs to control the satcaster.) Karmazin has said, “I am certainly open to having a conversation, but certainly my instincts today are the Liberty does not need me at the company.” According to a report in Forbes Magazine back in the spring, Liberty Chairman John Malone has little good to say about Karmazin: when Karmazin claimed to the magazine, “I think I’m one of the most underpaid executives in the history of executive payment,” Malone fired back, “It’s a joke. He has $120 million worth of share options at fifty cents.”
Earlier in the week, Liberty took many business analysts by surprise by saying, in the words of Liberty CEO Greg Maffei, “We are in no rush to get out of the Sirius stake.” In fact, Maffei noted that the satellite company could one day make up the core of Liberty Media.