The FCC rejected an attempt by Sirius XM Radio's (SIRI - News) top shareholder, Liberty Media (LMCA - News), to take control of the satellite radio service. In March Liberty had asked the FCC for Sirius' operating licenses, arguing that its 40% stake amounted to de facto control. It bought the shares in '09 to save Sirius from bankruptcy. A provision barring the cable firm from owning more than 49.5% expired in March. Sirius shares gained 0.2%. Liberty fell 0.6%.