DirecTV Unloading XM Stake
DirecTV Group Inc. priced a public offering for the 9 million class-A shares in XM Satellite Radio Holdings Inc. it currently holds at approximately $230 million, XM announced Friday.
DirecTV had owned about 4.9% of XM. The direct-broadcast satellite operator invested $50 million in 1999 and $20 million in 2000, but it sold part of its stake in January.
Bear, Stearns & Co. Inc. is the sole underwriter for the offering.
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