A Sirius Mess
(First, I am re-posting this; If the other went through, my apologies for the duplicate.)
I like the Sirius product--have for a while. I am looking forward to getting the XM content on Oct. 6. I, and my anticipation, don't matter with regards to this equity. I get the company has debt, the FCC delay hurt, etc. However, as the PPS breaks through the buck level, I have to wonder about a buyout. In a previous post, I wondered if going private for a while to get the companies business 'in order' (debt reoranization, waiting out the current credit environment) would be an option for SIRI. Now I rehash the list of possible suitors, including Microsoft, Google, GE, Comcast, Disney, et al. My newest concern is this: What if no one makes an offer? At this price, the company, debt included, is a steal. If no one even sniffs this, in my opinion, then there is truly something wrong in the state of Denmark.
Also, briefly, I believe that now a new more well established brand (Google, MSFT, etc.), along with the suitors' cash postion, might be the only thing to save SATRAD. An extreme statement, yes. But after yesterday's mucked up speech, Mel and Co. deserve a bit of rattling.