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Thread: Maybe?????????? Sirius XM Holds Talks With Liberty Media

  1. #1
    J56D is offline
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    Maybe?????????? Sirius XM Holds Talks With Liberty Media

    Liberty Media, the media company owned by John C. Malone, is in preliminary talks with satellite radio giant Sirius XM Radio, people briefed on the negotiations told DealBook.

    A deal between Liberty and Sirius XM could throw a wrench in takeover plans by EchoStar, the television satellite company that has been acquiring Sirius XM’s debt.

    The high drama comes at a critical time for Sirius XM, which faces $175 million in debt payments that will come due on Feb. 17. The company is unlikely to be able to meet those obligations.

    Mel Karmazin, Sirius XM’s chief executive, has been locked in talks with Charles W. Ergen, his counterpart at EchoStar, these people said. The two men are said to not get along, and Mr. Karmazin has rebuffed Mr. Ergen’s advances before.

    White Knight? Who knows? We could sure use one!

    While EchoStar’s proposal to Sirius XM is unclear, it may be no better for the satellite radio’s company’s bondholders than a bankruptcy filing, people close to the company said. Sirius XM hired advisers several weeks ago to prepare for a potential bankruptcy filing, which could come within days, these people said.

    It is not clear how advanced the talks between Sirius XM and Liberty are, but any potential deal between the two could spark a bidding war with EchoStar. Because EchoStar holds a large portion of Sirius XM’s debt — a majority of the $175 million due on Feb. 17 and part of a $400 million tranche that comes due in December — it may have an upper hand in any such negotiations.

    –Andrew Ross Sorkin and Zachery Kouwe

    An interesting twist in this story is Liberty Medias connection to Direct TV.
    Last edited by J56D; 02-11-2009 at 09:03 PM.

  2. #2
    m4svt is offline
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    i hope mel does something to save his ass and ours.

  3. #3
    trippingthespeculatingpos is offline
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    Sirius XM Radio in talks with Liberty Media: report
    By John Letzing
    Last update: 7:48 p.m. EST Feb. 11, 2009
    SAN FRANCISCO (MarketWatch) -- Sirius XM Radio Inc. is in preliminary talks with Liberty Media Corp., in a move that could spark a bidding war for
    sirius xm radio inc com, according to a media report late Wednesday. The online edition of the New York Times, citing unnamed sources, reported that the talks between Sirius and Liberty are "preliminary." Meanwhile, Sirius Chief Executive Mel Karmazin "has been locked in talks" with EchoStar CEO Charles Ergen over a possible deal, according to the report. Sirius shares were hit hard Wednesday by reports that the satellite-radio company is considering filing for bankruptcy. End of Story

  4. #4
    Sworntwofun is offline
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    Way to go Tripp....Maybe there will be light at the end of the tunnel...

    I got to say I've been trying to keep the faith... but its been a little tought..
    of course now... I thinking if we would of dumped like everyone else we could of bought back double today....Why is it with this stock the real loyal die hard people are the one who pay the most....

    Anyway keep up the good work!

  5. #5
    trippingthespeculatingpos is offline
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    yeah im kicking myself too, thing is even now if it hit .20 cents again i woulkd have a hard time selling lol but i would definetly be thinking about it harder. I was not expecting it to fall all the way to .5 cents let alone back to .11
    Last edited by trippingthespeculatingpos; 02-11-2009 at 09:25 PM.

  6. #6
    Bulldog17 is offline
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    From Yahoo...(win_streak)

    From Dow Jones News Wire regarding Liberty Media 14 second(s) ago Dow Jones is confirming the report that Liberty Media is in talks with Sirius.

    In addition, they are reporting that Karmazin asked Direct TV Group to buy the company in a bid to avoid filing BK or entering into a deal with Echo Star.

    I could not copy link off StreetSmart Pro, however, I am certain you will see the report tomorrow on Yahoo.

  7. #7
    sxminvestor is offline
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    I almost gave in and sold at .06 cents today, but canceled it as it approached .059 because I couldn't live with myself if they didn't go down and Mel pulled off something. Let's hope for a nice pop on this news tomorrow.

    I have lost about 200k since 5 years ago and have 120,000 shares riding on this still. Sounds like nothing at these levels, but it was something big at one time. How sad, but there is hope.

  8. #8
    howzzat is offline
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    I hear you SXMinvestor. I am down over $ 100k on this stock too. I will hold onto my 120,000 or so shares for now. I still have faith. I do not believe that BK will happen. I hope I am right.

  9. #9
    deewcom is offline
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    Liberty Media Corporation owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to three tracking stock groups: (1) the Liberty Interactive group, which includes Liberty's interests in, Provide Commerce,, BUYSEASONS,, IAC/InterActiveCorp, and Expedia, (2) the Liberty Entertainment Group, which includes Liberty’s interests in the DIRECTV Group, Inc., Starz Entertainment, FUN Technologies, Inc., GSN, LLC, Wildblue Communications, Inc., and Liberty Sports Holdings LLC, and (3) the Liberty Capital group, which includes all businesses, assets and liabilities not attributed to the Interactive Group or the Entertainment Group including our subsidiaries Starz Media, LLC, Atlanta National League Baseball Club, Inc., and TruePosition, Inc., and minority equity investments in Time Warner Inc. and Sprint Nextel Corporation.

  10. #10
    Sworntwofun is offline
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    Man...My 16k sounds like chump change compared to you guys...Well maybe it will pay off for all...Good Luck to you both and all the Loyal Investors!

    And give it your all Mel..........

  11. Ad Fairy Senior Member
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