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Don't you think that would noted in some sort of journalistic fashion?

"XM is issuing financing in the amount of. This will change the terms of the buyout agreement between their rival Sirius...

The way I see around that, is that XM doesn't need to dilute to pay. The money comes due upon merging, at which point you dip into the combined company's coffers.

EDIT: Okay scratch that. That is...

Why would the restructuring of debt in a post-merger transaction affect the value of the deal. Sirius went into this transaction knowing that a certain amount of XM's debt would need to be taken care...

Oh so you think the majority of satellite radios on the market released by either XMSR or SIRIUS are "switchable". Do you think they can switch back and forth, or are they merely gateways?

All of them?

Hartleib: (Anyone else with answers feel free to comment.)

I know you've been involved as an investor in the industry for a long time, but I don't fully understand the entire background. Can you...