BATRA - Liberty Media Buying Its Own Shares Of SiriusXM Tracker
Liberty Media (LSXMA) (LSXMB) (LSXMK) (FWONA) (FWONK) (BATRA) (BATRK) announced today that the company has started a share buyback program which applies to any of the tracking stocks within its portfolio. The first buyback moves were applied to one of the trackers tied to SiriusXM (SIRI). In Q1 of 2018, Liberty bought back $100 million worth of its (LSXMK) stock at an average price of $41.16.
The valuation gap between SiriusXM and Liberty's trackers was gone as