Tripp,
That yahoo post was extremely helpful.
Thank you.
SIRIUS XM SATELLITE RADIO FORUM
Tripp,
That yahoo post was extremely helpful.
Thank you.
Echostar seen acquiring SIRIUS debt:
http://www.marketwatch.com/news/stor...}&siteid=yhoof
I will say this its a good and bad thing. But considering what has happen with XM and Sirius. I cannot see the FCC allowing them to combine. A partnership possible but full take over I just cannot see that.Originally Posted by billhart22
Dont forget about the SiriusBuzz radio show at 9:00Pm Tonight...
http://online.wsj.com/article/SB1233...oo_hs&ru=yahoo
By MATTHEW KARNITSCHNIG and JEFFREY MCCRACKEN
EchoStar Corp. and Sirius XM Radio Inc. have been engaged in talks for several weeks about EchoStar's interest in the troubled satellite-radio company, but have failed to come to a resolution, according to people familiar with the situation.
Sirius is trying to avoid a bankruptcy filing and the possibility that the EchoStar could take control of the company on a hostile basis. But that could prove difficult, given the difficulty Sirius has had raising the $175 million necessary to satisfy a debt payment to satellite-television provider EchoStar and other bondholders due February 17. Sirius didn't respond to a request for comment.
EchoStar Chairman and Chief Executive Charles Ergen, who is believed to be seeking control of Sirius, has been accumulating Sirius debt since late summer, the people said. EchoStar holds most of the satellite-radio operator's debt that expires in February and owns more than half of a $400 million tranche coming due in December. Both stakes were purchased from hedge funds. Sirius's total debt load is $3.25 billion.
Until Thursday the debt coming due in February traded around 80 cents on the dollar, and the debt coming due in December, around 36 cents on the dollar, according to Thomson Reuters. Thursday afternoon, after EchoStar's purchases were reported, the debt was trading around 90 cents and 40 cents, respectively. Sirius's shares rose two cents to 17 cents.
A spokesman for EchoStar declined to comment on the strategy behind acquiring the debt. It remained unclear what Mr. Ergen would do with Sirius if he acquires the company. Mr. Ergen also controls satellite-TV provider Dish Network Corp.
Seeking to take control of a company by acquiring its debt is an unorthodox strategy and could backfire. The debt EchoStar holds is junior to $600 million in bank loans Sirius has taken out. In the event of a bankruptcy filing by Sirius, the bonds held by EchoStar could be worthless. But Mr. Ergen could be counting on negotiating a settlement with the banks that would allow him to seize control.
Still, a bankruptcy filing could offer advantages to Mr. Ergen because it would allow Sirius to extract itself from costly contracts, including a $500 million, five-year agreement with radio personality Howard Stern. On his show Thursday, Mr. Stern said he didn't understand the financial details of EchoStar's moves, but added, "I just need to know who I'm working for on any given day."
—Sarah McBride contributed to this article.
Same spin about Echostar acquiring Sirius/xm is everywhere.....
http://www.dealerscope.com/article/e...-402835_1.html
EchoStar Could Buy Sirius XM
Stephen Silver
Feb 6, 2009
EchoStar Corp. has bought up "a substantial portion" of Sirius XM Satellite Radio's soon-to-mature debt, in what could turn into an attempt to take over the company, the Wall Street Journal reported Thursday.
The satellite TV provider which owns Dish Network and is controlled by Charles Ergen has acquired a $300 million tranche of the radio company's debt.
The satellite radio company, formed last year with the merger of Sirius and XM, has fallen on hard times due to a variety of factors, including the downturn of the overall economy and of the auto industry in particular, as well as huge amounts of money owed for such properties as Howard Stern, the National Football League and Major League Baseball.
Is this new news? Mad Dog PR from Sirius/XM released this morning....
http://news.prnewswire.com/DisplayRe...4967798&EDATE=
SIRIUS XM Radio Launches Mad Dog Radio Channel
SIRIUS XM Radio LOGO. (PRNewsFoto/SIRIUS XM Radio)
NEW YORK, NY UNITED STATES
Headlined by sports talk star Chris 'Mad Dog' Russo, new all-sports talk channel airs live nationwide 24 hours a day on SIRIUS channel 123 and XM channel 144
On-air personalities include Gary Williams, Bruce Murray, Bill Pidto, Andy Gresh and Larry Krueger
"The Dog House" invites sports fans to be nightly co-hosts
NEW YORK, Feb. 6 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) announced today that Mad Dog Radio, the all new, all-sports talk channel headlined by Chris "Mad Dog" Russo, has launched nationwide exclusively on SIRIUS channel 123 and XM channel 144. Mad Dog Radio features 24 hours of live sports talk daily Monday through Friday, plus live weekend programming, hosted by sports talk personalities from around the country.
A sports talk icon known to fans nationwide, Russo debuted as host of the channel's anchor program, Mad Dog Unleashed, in September. The exclusive show originates live from SIRIUS' New York studios every weekday afternoon from 2:00pm to 7:00pm ET and features Russo's take on the biggest sports stories from around the country, plus listener calls and hard-hitting interviews.
Filling out the Mad Dog Radio roster are sports talk veterans Gary Williams, Bruce Murray, Bill Pidto, Andy Gresh, Larry Krueger and other engaging personalities who will discuss all the latest news from the world of sports, debate the issues of the day, and conduct interesting and enlightening interviews with some of the biggest names in sports.
Mad Dog Radio programming also airs live online on SIRIUS Internet Radio and XM Radio Online.
=DJ TALK BACK: Do What It Takes To Keep Sirius Independent
Ê A reader named Chris from Somers Point, N.J. respond to The Wall Street Joournal's Martin Peers column,"=HEARD ON THE STREET: Sirius About Staying Aloft" which ran on Dow Jones Newswires on Thursday at 4:29 p.m. EST.
Ê Mel should rework entertainment contracts and immediately go cash-flow positive. This stock could have tremendous upside buy only if it stays independent for now. Do whatever it takes to legally cover the debt and remain independent. Ê
http://www.usnews.com/blogs/flowchar...vive-2009.html
15 Companies That Might Not Survive 2009
February 06, 2009 09:29 AM ET | Rick Newman
With consumers shutting their wallets and corporate revenues plunging, the business landscape may start to resemble a graveyard in 2009. Household names like Circuit City and Linens ‘n Things have already perished. And chances are, those bankruptcies were just an early warning sign of a much broader epidemic.
Moody’s Investors Service, for instance, predicts that the default rate on corporate bonds – which foretells bankruptcies – will be three times higher in 2009 than in 2008, and 15 times higher than in 2007. That could equate to 25 significant bankruptcies per month.
We examined ratings from Moody’s and data from other sources to develop a short list of potential victims that ought to be familiar to most consumers. Many of these firms are in industries directly hit by the slowdown in consumer spending, such as retail, automotive, housing and entertainment.
But there are other common threads. Most of these firms have limited cash for a rainy day, and a lot of debt, with large interest payments due over the next year. In ordinary times, it might not be so hard to refinance loans, or get new ones, to help keep the cash flowing. But in an acute credit crunch it’s a different story, and at companies where sales are down and going lower, skittish lenders may refuse to grant any more credit. It’s a terrible time to be cash-poor.
That’s why Moody’s assigns most of these firms its lowest rating for short-term liquidity. And all the firms on this list have long-term debt that Moody’s rates Caa or lower, which means the borrower is considered at least a “very high” credit risk.
Once a company defaults on its debt, or fails to make a payment, the next step is usually a Chapter 11 bankruptcy filing. Some firms continue to operate while in Chapter 11, retaining many of their employees. Those firms often shed debt, restructure, and emerge from bankruptcy as healthier companies.
But it takes fresh financing to do that, and with money scarce, more bankrupt firms than usual are likely to liquidate - like Circuit City. That’s why corporate failures are likely to be a major drag on the economy in 2009: In a liquidation, the entire workforce often gets axed, with little or no severance. That will only add to unemployment, which could hit 9 or even 10 percent by the end of the year.
It’s possible that none of the firms on this list will liquidate, or even declare Chapter 11. Some may come up with unexpected revenue or creative financing that helps avert bankruptcy, while others could be purchased in whole or in part by creditors or other investors. But one way or another, the following 15 firms will probably look a lot different a year from now than they do today:
Sirius Satellite Radio. (SIRI - parent company; about 1,000 employees; stock down 96%). The music rocks, but satellite radio has yet to be profitable, and huge contracts for performers like Howard Stern are looking unsustainable. Sirius is one of two satellite-radio services owned by parent company Sirius XM, which was formed when Sirius and XM merged last year. So far, the merger hasn't generated the savings needed to make the company profitable, and Moody's thinks there's a "high likelihood" that Sirius will fail to repay or refinance its debt in 2009. One outcome could be a takeover, at distressed prices, by other firms active in the satellite business.
did u guys see the volume going crazy round .13 lol i bet it still finishes in the green today.
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