Mel Karmazin will step down as chief executive of Sirius XM Radio on Feb. 1, as the company prepares to be taken over by Liberty Media, its biggest investor, Sirius announced Tuesday.
Mr. Karmazin will also leave the company’s board.
Liberty has been inching toward its takeover of Sirius all year, and there have been some public sparks between Mr. Karmazin and John C. Malone, Liberty’s chairman, over whether Mr. Karmazin would remain with the company. Their comments have appeared combative, but recently Mr. Karmazin has taken a more conciliatory tone.
“Given where we started, it is amazing that Sirius XM has grown to become the largest radio company in the world,” Mr. Karmazin said in a statement. “With a deep bench of corporate talent, a roster that includes the most in-demand on-air personalities and a wide range of exclusive programming, Sirius XM has never been better positioned than it is today.”
He added: “Sirius XM has a strong foundation to build on for the future and there is a great team in place to keep the company moving forward. I am confident that Sirius XM’s best years are ahead.”
In the same statement, Mr. Malone said, “While we understand, we regret Mel’s decision to pursue other interests and are grateful for his willingness to oversee a
smooth and orderly transition.”
Liberty saved Sirius from bankruptcy in 2009 through a $530 million loan, which gave it a 40 percent share of the company. It has been buying shares in Sirius on the open market for months, and currently owns just less than 50 percent of the company.
In August, Liberty asked the Federal Communications Commission for its approval to take over Sirius outright. After a public comment period, the F.C.C., which must approve a transfer of broadcast licenses, is expected to rule by December.
Sirius was hit hard by the recession, but has rebounded over the last two years as automotive sales have improved. It has 23 million subscribers and in its second quarter reported $838 million in revenue and $868 million in cash.
The company will report its third-quarter earnings next Tuesday.