SiriusXM Adds $2B To Stock Repurchase Program

SiriusXM Holdings Inc. Tuesday announced that its Board of Directors has approved an additional $2 billion common stock repurchase program.  Shares of common stock may be purchased from time to time on the open market and in privately negotiated transactions, including in accelerated stock repurchase transactions and transactions with Liberty Media and its affiliates.  The Company will fund the repurchases through cash on hand, future cash flow from operations and future borrowings.

SiriusXM's Board of Directors approved a $2 billion common stock repurchase program in December 2012 and supplemented that authorization with the approval of an additional $2 billion common stock repurchase program in October 2013.  The new approval increases to an aggregate of $6 billion the amount of common stock SiriusXM has been authorized to repurchase.

The announcement of the extension of the repurchase program reflects the Board's desire to continue to return value to stockholders and its confidence in the long-term growth prospects of the Company's business.  SiriusXM retains sufficient capital capacity to continue making long-term investments in its programming, research and development initiatives and overall operations, as well as to pursue strategic opportunities that may arise.

Repurchases will be made in compliance with all SEC rules and other legal requirements and may be made in part under a Rule 10b5-1 plan, which permits stock repurchases when the Company might otherwise be precluded from doing so.