http://biz.yahoo.com/prnews/090306/ny80124.html?.v=1
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here we go.l!!!
Bk my ****ing ass
b ump1efgergerger
SIRIUS XM and Lenders Agree to Extend Outstanding Loans Due in May
SIRIUS XM Radio Inc. (Nasdaq: SIRI - News) and Liberty Media Corporation (Nasdaq: LINTA - News, LINTB - News, LCAPA - News, LCAPB - News, LMDIA - News, LMDIB - News) today announced the closing of the second, and final, phase of the previously announced investment by Liberty in SIRIUS XM.
Mel Karmazin, Chief Executive Officer of SIRIUS XM Radio, said, "We are excited to have closed the second and final phase of our investment agreement with Liberty Media. It is an example of the confidence our lenders and Liberty have in our business model. These transactions resolve all of the uncertainty surrounding the company's and its subsidiaries' debt maturing in 2009. Having addressed our near-term financial obligations, we remain focused on continuing to deliver on all the promise of the merger of SIRIUS and XM -- a more efficient company offering the best programming through new packages to more subscribers."
"We are pleased to have completed the second phase of this investment," said Greg Maffei, president and CEO of Liberty. "This closing allows Liberty to align itself with one of the most exciting companies in media today."
SIRIUS XM also announced that XM Satellite Radio, a wholly owned subsidiary of SIRIUS XM, amended and extended its existing $350 million credit facilities. XM Satellite Radio's existing term loan and revolving loan have been rolled into a single term loan facility. As previously agreed, Liberty has purchased $100 million aggregate principal amount from the lenders.
Liberty has committed to loan an additional $150 million to XM Satellite Radio, to be used to repay a portion of the outstanding principal amount of 10% Convertible Notes due December 1, 2009 of XM Satellite Radio Holdings Inc.
Under the existing terms of their agreement, SIRIUS XM has issued Liberty an aggregate of 12.5 million shares of new preferred stock convertible into 40% of the common stock of SIRIUS XM.
J.P. Morgan Securities acted as financial advisor to SIRIUS XM in connection with the transactions. UBS and Lazard Freres & Co. LLC acted as financial advisor to Liberty Media Corporation.
Important additional information regarding this investment and the terms of the amended credit facilities will be available in a Current Report on Form 8-K which SIRIUS XM expects to file with the Securities and Exchange Commission.:)
Yeeeeeeeeeeeeeehaaaaaaaaaaaaawwwwwwwwwww!
.1385 and climbing... Volume has just now started picking up.
:clap::clap::clap:Quote:
Originally Posted by trippingthespeculatingpos
unreal... spiked to .139 then kaboom kicked back down.. can you say manipulation..you would think the shorts would be covering...but noooo. someone wants this to stay here. i know....duh!Quote:
Originally Posted by OldDruid
koop
Amended from 150M to 350M.
Let it soak in and enjoy the ride.
guys it should be a slow rise now.
Where's Demian?
Hope to see his reaction to this news.:D
I assume that this would this help remove the main incentive for shorting SIRI?
BTW Brandon: If you're watching today, I enjoyed the second installment of your Lessons in Stock Manipulation today. Too bad that the Gov't will likely never do a thing to punish the manipulators.
Keyword: "Rise". :thumbup:
Quote:
Originally Posted by trippingthespeculatingpos
Mel you son of a bitch, you did it.
Cramer said the stock was worthless.
If you had taken the deal at 1.38 (if true), everyone would have been pissed at you anyhow since they would never have known it could go to .05, but you see more value than that are so do all of us hardcore investors and satellite radio fans !!
Now 3/17 CC unless you want to move it up !
I'm a little surprised we haven't breached .14 yet... hopefully it gets interesting this afternoon.
.14 right now, guys just walk away and make some money, no need to watch it will go up, you just have to be patient in the speed it decides to go up.
Great news!!!!!!!!!!! Thanks Brandon for being an idiot and posting that article! I think I can sleep good this weekend:)!
I think it's going to take a little time for the news to be digested and analyzed. You also probably have a bit of a sell off. Once all this is done, hopefully we'll see a nice pop.Quote:
Originally Posted by winagain35
I'm right here and very happy!Quote:
Originally Posted by xitvp
I stepped outside for minute and the news broke while I was outside on the porch.....
Murphy's law........
I sit here glued to the SIRI news day after day and the big news breaks when I step away for a bit.............figures.
Glad I bought more in AH yesterday.........:)
It made .14 and is trying to push past......
grunt.....grunt.....grunt...........
Here Kitty/Kitty!