Originally Posted by
Koop
breaking news
NEW YORK, March 6, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- SIRIUS XM Radio Inc. (Nasdaq: SIRI) and Liberty Media Corporation (Nasdaq: LINTA, LINTB, LCAPA, LCAPB, LMDIA, LMDIB) 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."