Report: Liberty to name new Sirius XM CEO.

Story by Inside Radio

John Malone’s Liberty Media is quietly preparing to hire its own chief executive for Sirius XM Radio. The New York Post reports the search will reportedly begin when current CEO Mel Karmazin’s contract expires at the end of the year.

Liberty Media has slowly been building its stake in the satellite radio company over the past several months. It now holds 49.7% and it has already asked the FCC to give it control of Sirius XM.

Karmazin told the Bank of America-Merrill Lynch media conference in Beverly Hills this week he’s not talked about his future with the men that could become his new bosses. “I have not had any conversation with Liberty since these discussions started in May,” Karmazin said. “There’s been no dialogue whatsoever about me staying or going.”

He also said he expects Liberty to replace the current Sirius XM board. If Karmazin does exit, it won’t be surprising to many observers who characterize him as a “rival” to Malone in the world of media moguls. When Karmazin told Forbes over the summer he was “underpaid,” Malone told reporters he didn’t see it that way. “It’s a joke,” Malone said.