Mel Karmazin to exit Sirius XM Satellite Radio

 

Story by Inside Radio

With the looming takeover of Sirius XM Radio by Liberty Media, CEO Mel Karmazin (photo left) has told the satellite radio company’s board of directors he will exit his position on February 1, 2013.

Karmazin’s contract expires at the end of the year and he’ll remain for an extra month to help with the management transition.

Sirius XM shares are down 2% in after-hours trading.