CEO Mel Karmazin cashes in his Sirius/XM Satellite Radio's stock

Story by Inside Radio

A chief executive selling 13.7 million shares over three days is uncommon on its own, but with a possible takeover brewing Mel Karmazin’s move is drawing added scrutiny. 

The Sirius XM chief cashed-in stock options valued at $27.2 million this week. Karmazin had alerted shareholders in February he’d sell some options to fund “philanthropic efforts.” Liberty Media has been raising its holdings in the company to gain control.