Liberty Media rescues Sirius XM from bankruptcy

Guessed that the conversations with DirecTV loan were not, after all, not so useless? Satcaster ' s of the parents, the freedom of means, finishes taking a step to save to Sirius XM claws from the bankruptcy, with a raft of rescue of $ 530 million that will use the payments to settle the obligations of the debt and to maintain the operations hum. The freedom to write a check immediately $ 280 million, including U.S. $ 171 million go away right to the indebted ones. Another round of financing (by the sum of 250 million dollars) will be available from Sirius XM; to help to pay its debts and to avoid a possible change of management of Charlie Ergene Sirius' of DISH Network.

"In is exchange for this vigorous favor recognition, the means of the freedom own 12.5 million action of preferred stocks in Sirius XM, that can turn the values common if they decide therefore it. Also of the note, the founder John Malone and Greg Maffei, CEO of the freedom of means tends to be united to Sirius XM “advice of administration of San That is a collective signal of aid that we finished listening, or what?


Via Denver Business Journal [Thanks, Michael]

Continue Reading...>>

Sirius XM reportedly seeing rate increase this March

Sirius XM not even has for a long time, but we are already an increase of the prices comes in the front part. According to the humming of Syrian, the representatives of the aid are now to confirm that the public generally a rate of increase will enter in force from the 11 of March of 2009. They are encouraging to the present subscribers closed itself in his present rates of three years that allowed the interior him, but not to choose, that probably in ll is paying to $ 2 more subscriptions and an additional one of $ 2.99 of rate by the service of radio in line Internet. If there is some good news s here, ' s again that the position will give access him " so surprising 128k; prima" of foods, nevertheless, we are of left to right in the calm dark of any future extension of coming from the groove.



Via Darren Murph

Continue Reading...>>