In early 2009, Liberty Media swooped in with $530 million to save Sirius XM from filing for bankruptcy in exchange for a 40% stake in the company.
Since then, shares of Sirius have been on fire, climbing more than 135% this year, though they're still trading under $2 (currently around $1.40). That's a far cry from their all-time high of nearly $70 back in March 2000. But every 10 cent move in Sirius' stock equates to a $2.93 change in Liberty's net asset value, noted Strata Capital Management analyst Scott Stevens, who owns the stock.
In addition to Sirius, Liberty Media also owns stakes in Sprint-Nextel, the Atlanta Braves and Time Warner, parent company of CNNMoney and Fortune.
Phoenix Partners Group director Robert Routh says Liberty remains one of the most undervalued stocks, putting its fair price closer to $110 per share.
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