Sirius XM and Liberty Media Play Nice

There will be an interesting speaker at Liberty Media's (Nasdaq: LMCA) annual investor meeting next week.

Mel Karmazin -- Sirius XM Radio's (Nasdaq: SIRI) opinionated CEO -- will be a presenter at the Oct. 10 powwow.

The move makes sense at first. Liberty Media is nearing majority control of the satellite radio provider. It's simply a matter of time before John Malone's eclectic media conglomerate bumps its stake in the satellite radio provider above 50%, a move that will likely result in a shareholder spinoff. If Liberty Media wants to get its investors excited about the appendage, having Karmazin sell them on Sirius XM's potential is smart. If Karmazin doesn't want to see Sirius XM's stock take a hit after the spinoff, it's in his best interest to encourage Liberty Media investors to hold on to their eventual shares.

Karmazin speaking at the meeting makes sense for both sides. However, weren't the two factions in a war of words just last month?

Karmazin started things up recently.

"My instincts today are that Liberty does not need me at the company," he said at an investor conference three weeks ago, pointing out that he has historically been expensive to keep.

Karmazin's current deal as Sirius XM's CEO ends this year, and there has been no public chatter as to where things stand in terms of negotiating an extension.

"It's very clear to me that if I were Liberty, I would sit there and say, 'I'm not sure we need Mel.'"

Liberty Media CEO Greg Maffei seemed to agree a week later.

"The business will not fail without Mel," Maffei said at a different investor conference. "Graves are full of replaceable people."

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Sirius XM and Liberty Media Play Nice