Man....I've been looking to buy more. I am not sure if this is the beginning of our ascent towards 1.00 or if it will go down a bit. I may just say screw it and buy......What are you guys doing (those who are thinking of buying more)?
http://biz.yahoo.com/ap/090205/echos...s_xm.html?.v=1
AP
EchoStar acquires Sirius debt
Thursday February 5, 7:40 am ET
Report: EchoStar acquires Sirius XM debt, may be planning attempt to gain control
NEW YORK (AP) -- EchoStar Corp. has acquired a significant amount of Sirius XM Satellite Radio Inc.'s maturing debt and may be planning an attempt to gain control of the satellite radio operator, according to a media report on Thursday.
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Citing "people familiar with the matter," The Wall Street Journal said EchoStar has recently acquired part of a $300 million tranche of Sirius debt that matures on Feb. 17.
Sirius XM was created by the combination of satellite-radio companies Sirius and XM in July, but the company has since suffered from a sharp slowdown in auto sales, which hurt subscriber growth for 2008 and 2009. The company generates many of its new customers through sales of cars that have its radios installed at the factory.
In December, Moody's Investors Service slashed its credit rating for Sirius XM, anticipating that the New York-based company will have to seek a compromise with debt holders next year. Moody's said Sirius has nearly $1 billion of its $3.3 billion debt load coming due in 2009.
Sirius shares have lost nearly all of their value in the past year, closing at 14 cents on Wednesday.
Meanwhile, EchoStar, which sells set-top boxes and also provides satellite services to Dish Network, reported in November that its losses surged in the third quarter due to write-downs and other losses on troubled investments.
The Englewood, Colo.-based company lost $308 million, or $3.43 per share, in the quarter ended Sept. 30. EchoStar's stock closed at $15.40 on Wednesday.
Fasten your seatbelts...lQQks like the ride is starting. Lets hope a upward cycle is in the making. If all the debt is covered just imagine how nice the ride up will be.
quoting sirius ownerOriginally Posted by Demian
This is a logical takeover. Short squeeze coming up. Once the announcement is made official, the price could spike depending on what Echo offers. Sell immediately...Prices usually spike and then slowly deflate. Or it could spike and deflate immediately....who knows uh ?
I need to tell you I enjoy reading both yours and sirusowners comments, I am learning so much from all of you .
Be wonderful to close @ .20 today and keep pace at average +.01 daily from here on out.
Volume today should be over 100 million.
Last edited by SiriusHope; 02-05-2009 at 11:43 AM.
Calm down people - unless more news comes out to keep this thing going, we're headed back to .15
i think we will soon be above the .20 cent mark and we will hold above, not saying today but posssibly tommorow or monday say goodbye to the teen's
the continuing trouble with owning this stock is the substantial
amount of information missing (to shareholders) as to the intent of the key players - Clayton, Ergen, Mel, the Echo BOD; we shareholders are all unfortunately floundering in a dearth of intel. Speculation isn't the word for it; it's more like guessing blind. It's not only intensely frustrating, but there
seems to be as well a not insignificant element of unfairness. The fact is
these are Real People we're dealing with here. They do have actual game
plans. It's not like this is the commodities market. The only problem is
we lack reliable and useful information as to what they're thinking and what their goals are. The WSJ article was written in such a way as to be complete guesswork and speculation, designed to come across as Fact, when it was anything but. The only thing we seem to really know today is that Echostar is apparently buying some of the debt. That's about it. We don't know how much of it, it is buying, and we don't if it was done with an aim to help the company avoid bankruptcy (and share in the success), or bring it towards bankruptcy. We don't know, and it's Not Fun, since it is reasonable to conclude that the aforementioned players Do know the real intentions of each other.
nisvan relax and enjoy a green day, i sure am, mel probaly thanks any real investor worth a shit should be able to see that sirius is a good investment, he probaly laughs pretty hard at all these bash pieces thinking of how much money people are going to make money if they buy now, you want to know what sirius is planning go listen to thei3 3rd qtr conf call.
Will they have a 4 quarter conference call? I would like to listen in on it. Do anyone know of the time and date if so?
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