Originally Posted by
homer985
Sirius reported cash of $220 million and XM reported cash of $183 million, plus the $150 million GM credit facility; combined it is $400 million in cash and over $550 million in available liquidity -- as of June 30, 2008.
The combined cash burn has traditionally been in the $40~50 million range during Q3; but they did have some closing costs and the FCC fines to pay. It is likely that this will cause cash burn, I believe, up to near $100 million.
This will have left $300 million cash, plus the GM facility (and the Loral $100 million facility, for that matter too).
Q4 has traditionally been a strong positive FCF quarter for the combined company -- I see no reason for that not to continue this year, even with the slower economy. The tough part will be Q1 and then Q2 of next year, as the numerous severence packages continue to get paid out.
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