Sirius XM Radio Inc (NASDAQ:SIRI) has announced an additional $2 billion buyback of its own stock today.The buyback is the same size as the one that the satellite radio provider announced in December of 2012. Estimates suggest that the company has already bought back $1.6 billion of its own stock and will buy back the balance in the coming months before that agreement expires.
Sirius has a total market cap of just over $24 billion on today's market making an additional $2 billion buy of the company's stock a significant amount. Shares in the company have grown rapidly in value through 2013, though...
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