SIRI Intraday Updates for the Week of 2/09/09

[R-U-Sirius]

I will say this. This stock is truly pissing me off. Up down up down. As a new trader I have learned that in this stock particular on good news buy low sell on the run. I was so damn tempted to sell it at .20 and didn't. Thats the breaks on this stock. But what I have learned is that no matter how well this stock does for a day or longer the HATERS will come out to drive the price down again. I guess I am saying all this to say that we have a great network right on this board and I am a Sirius Long. But if you play your cards right with this stock the bad news could help you make a killing on this stock alone. Because any good news skyrockets this stock and bad news does the same. A hard bought lesson on my end but glad that it happen now so I won't make it again.

Oh and GO SIRIUS!!!!!!!!!!!

[Demian]

This price action conditions all the suckers to sell too soon on the way back up when it really is the real thing....

[Demian]

Is this article's title misleading or what?

http://www.fmqb.com/Article.asp?id=1154190

Report: EchoStar CEO Already Attempted Sirius XM Takeover

February 9, 2009
Following last week's reports that EchoStar and its CEO, Charles Ergen, had acquired a large amount of Sirius XM Radio's debts, the Wall Street Journal reports that Ergan actually made an offer late last year to take over the satcaster. According to the Journal, Ergen had proposed injecting enough of his own capital into Sirius XM to avoid its upcoming debt payments, but was turned down at the time.

A source tells the Journal that Ergen is not planning on forcing Sirius XM into bankruptcy to then acquire the satcaster at a cheaper price, but instead wants to add the company's operations as a complement to EchoStar's satellite TV business.

According to multiple reports, Sirius XM head Mel Karmazin told investors last week that if he could not raise the $175 million needed to pay their maturing debt next week, he would be forced to either have Sirius XM file for bankruptcy or to make a deal with Ergen. Orbitcast describes Karmazin as "backed into a corner" with the satcaster's options.

However, even if Ergen gets further involved in the finances of Sirius XM, such a deal would likely face tough scrutiny from government regulators.

[trippingthespeculatingpos]

that statemenmt about mel needing that 175 mil really pisses me off, they better not be making shit up

[Demian]

Notice the XM SkyFi and boombox on the file cabinet in the upper left of this photo. It's a screenshot from the "Ghost Whisperer" TV show.........

Just passing the time.......trying to not look at the chart.

[Demian]

http://www.hometheatermag.com/news/0...chostarsirius/

Will EchoStar Lunge for Sirius XM?
By Mark Fleischmann

February 9, 2009 — EchoStar, the owner of the Dish Network, is accumulating debt from the recently merged Sirius XM Satellite Radio Inc., according to The Wall Street Journal. The newspaper speculates that this "could be the first salvo in an attempt to take control of the battered company," either inside or outside of bankruptcy.
This is not EchoStar's first attempt to absorb Sirius XM. Charles Ergen of EchoStar made an unsolicted offer last year, and was rebuffed, according to the Journal. Getting hold of Sirius XM would add a virtual monopoly in satellite radio to EchoStar's already prominent position as one of two major satellite video operators.

Sirius XM, despite the recent merger of Sirius and XM, is still not making a profit. Nor did either of its predecessors. Contracts with the National Football League and Major League Baseball, its crown jewels, cost tens of millions a year. Then there's that $500 million, five-year deal with Howard Stern. Meanwhile, plummeting car sales are eroding the sales of satellite car radios. The company's share price is practically in penny stock territory. So it is vulnerable to a takeover from the likes of EchoStar.

[trippingthespeculatingpos]

sorry having a hard time focusing on the radio.

[Demian]

http://digitaldaily.allthingsd.com/2...ening-channel/

Sirius Rolls Out New 24 Hour Investor Keening Channel
Posted at 9:50 AM PT on February 9, 2009



Apparently satellite mogul Charlie Ergen’s run at Sirius XM (SIRI) has been in the works for quite some time. Indeed, “people familiar with the situation” tell The Wall Street Journal that he made an offer late last year to take control of struggling satellite radio outfit, but was rebuffed. His proposal: that one of his two satellite companies: EchoStar (SATS) or Dish Network (DISH) supply Sirius with enough capital to meet its debt obligations and avoid a bankruptcy filing. Clearly, then, Ergen isn’t looking to force Sirius into bankruptcy in order to claim its assets on the cheap, but rather because he sees it as a natural complement to his television operations.

Sirius CEO Mel Karmazin obviously doesn’t share that view, though he may soon come round.

With just a week or so left until its first round of debt obligations come due, Sirius is in a tight spot. As Karmazin told investors last week, the company needs to raise $175 million, and quickly. If it can’t it will end up either filing for bankruptcy or cutting a deal with Ergen. Given that Karmazin himself invested $2.7 million into Sirius stock last summer, Karmazin may well opt for the latter. Unless, of course, another potential investor — say AT&T or Liberty Media — comes sniffing around. Either way it’s going to be a volatile and stressfull week for Sirius investors.

[Demian]

http://www.wxyz.com/content/news/see...TWJZUqwCQ.cspx

15 Companies That May Not Survive 2009

13. Sirius Satellite Radio - which employs about 1,000 people. Satellite radio has never earned a profit. It's also paying out huge contracts to big name talent. While the company has now merged with XM radio, the deal hasn't generated the necessary savings yet. The company is also facing a possible takeover from EchoStar.

[Demian]

http://www.thedeal.com/corporatedeal...tes_strate.php

As EchoStar illustrates, strategics considering debt-to-own
Posted on February 9, 2009 at 11:29 AM

EchoStar Corp. CEO Charles Ergen isn't the only corporate executive considering a debt-to-own strategy to gain a stake in a struggling company. As has been widely reported, EchoStar has purchased about $400 million of Sirius XM Satellite Radio debt, $175 million of which matures on Feb. 17.

Acquiring the debt of a company in financial distress is a well-worn strategy for private equity and hedge fund investors. It's less common for corporate buyers, many of whom in a less volatile market would take an equity position in a target. But based on recent interviews for an upcoming article on distressed investing, its seems strategics are open to the possibility of buying debt as a path to ownership.

There are myriad reasons a corporation might choose the strategy. It could be angling for a seat at the bankruptcy table or perhaps it wants to help nurse a valuable target back to health in advance of an outright acquisition. Either way, it's an indicator that strategic acquirers are considering a range of creative options in an M&A market flush with distressed assets. - Suzanne Stevens