The Industry Standard - Sirius XM announces acquisition by end of March 2009? - Comments

Here is the official press

David Kuan — Tue, 17 Feb 2009 12:03:08 -0500

Here is the official press release from Sirius

The agreements, and the transactions contemplated by the agreements, do not constitute a change in control for SIRIUS XM under its outstanding debt instruments and are not subject to the approval of the Federal Communications Commission.

Deal with Libery Media done

David Kuan — Tue, 17 Feb 2009 10:02:09 -0500

Deal with Libery Media done in exchange for 40 stake. Enough money to deal with debt requirements through the end of year.

Sirius is near deal with

David Kuan — Tue, 17 Feb 2009 07:45:29 -0500

Sirius is near deal with Liberty Media without losing control of company

WSJ reports talks betw.

Yi-Wyn Yen167771 — Fri, 13 Feb 2009 16:16:20 -0500

WSJ reports talks betw. Sirius and satellite mogul Charles Egen are getting cozy again.

DirecTV acquires Sirius XM?

David Kuan — Thu, 12 Feb 2009 10:12:10 -0500

DirecTV acquires Sirius XM?

@Richard, Oops, thanks for

Yi-Wyn Yen167771 — Wed, 11 Feb 2009 11:54:11 -0500

@Richard, Oops, thanks for the catch. Fixed.

Mel Karmazi - the name is

Richard Ackermann — Wed, 11 Feb 2009 07:04:54 -0500

Mel Karmazi - the name is Karmazin.

NYT reporting that Sirius is

Yi-Wyn Yen167771 — Tue, 10 Feb 2009 17:41:41 -0500

NYT reporting that Sirius is filing for bankruptcy.

Sirius XM announces acquisition by end of March 2009?

Yi-Wyn Yen — Tue, 10 Feb 2009 13:14:58 -0500

Judgment made on April 1, 2009: Sirius XM struck a deal with Liberty Media to stay afloat. As a result, Sirus did not announce the company was acquired. The community correctly judged this forecast. -- The Industry Standard

irius XM Radio is in danger of going bankrupt. After Sirius merged with rival satellite radio company XM last July, the company has been struggling to refinance its debt when the credit markets started to freeze up in the fall. The Wall Street Journal reported that satellite mogul Charles Egen made an unsolicited offer to buy Sirius, which Sirius CEO Mel Karmazin rejected late last year.

Egen is determined to take control of Sirius. Sirius can't pay back its debt. So Egen's satellite TV company, Echostar, bought up most of Sirius's $175 million convertible debt. Echostar is also buying up some of Sirius's bank debts. Research firm CreditSights speculates that Echostar needs to only spend another $100 million to take control of Sirius. This forces Sirius into one of two options: file for bankruptcy or get acquired.

Prediction: Sirius XM announces the company will be acquired by March 31, 2009.

Image: DJ Lein/Flickr