SIRI Intraday Updates for the Week of 2/16/09

[Phil]

Combine "24" with siri/liberty action tonight and some of us may not be around in the mornng to celebrate.

I read someware that the star Sirius in anchient times represented freedom. Freedom and Liberty go hand in hand. Hmmmm.

"Libaration
Sirius is also associated with liberation, in fact, according to ancient teachings, the very concept of freedom itself resides in human consciousness because of the influence of this star system. Interestingly enough, the day our Sun conjuncts Sirius at 14 degrees Cancer, is July 4th, America's Independence Day! Bastille Day, the French equivalent of Independence Day is July 10th. About 5 years ago, as the "great conjunction" of Sirius A and B approached, a wave of freedom swept our world culminating in the breakdown of the communist-rule in Europe and the liberation of the Russian people from the hard-line Communist party. The Berlin Wall fell as the cold war ended... these events transpired simultaneously with the magnetic forces building to their highest intensity on Sirius. Is there a connection? Perhaps."

Denise St. Denis

http://www.galactic.to/planet/sirius-star.html

[Sworntwofun]

This is what Major is....
Report: Malone near deal for half interest in Sirius XM Radio
http://www.rockymountainnews.com/new...t/?partner=RSS

[SteveSirius]

From Wall Street Journal online (link: http://online.wsj.com/article/SB123481965239594427.html) (I couldn't get the entire article, because you need a subscription, which I don't have) Note the last sentence of the second paragraph:

John Malone's Liberty Media Corp. was near a deal late Monday to invest in Sirius XM Radio Inc. in return for a major stake, according to people familiar with the matter.

Though the two sides remained in negotiations over the final details, Mr. Malone appeared poised to edge past rival media baron Charles Ergen for a piece of the troubled satellite-radio operator. The parties hoped to announce an agreement before the New York market opens on Tuesday.

[Demian]

Please post links with articles....

[SteveSirius]

This is link to article I referenced two minutes ago:

http://online.wsj.com/article/SB123481965239594427.html

[SiriusBuzz]

You should be able to go back and edit your original post to add a link or make an edit... just an FYI

[SteveSirius]

You should be able to go back and edit your original post to add a link or make an edit... just an FYI

Thanks for the reminder Charles! I did it.

[Newman]

Ok, I know that one of the articles mentioned debt for equity swap.

I can see this happening, but in a very small portion. I don't think Malone is in these negotiations for stock. He wants at least one board seat (probably 2) and probably 25%-40% interest in the company. That does not mean 25-40% of the SHARES. (though dilution still technically occurs this way as well)

There may be minimal dilution share-wize with this deal, if any.

[sxminvestor]

This is the quote I like:

"A deal would create a satellite-media juggernaut around DirectTV Group Inc., "

[SteveSirius]

Currently on Bloomberg.com (link: http://www.bloomberg.com/apps/news?p...d=a0D3XTPq2jbw) It references Senior Secured Loan - senior secured by assets of Sirius XM (as opposed to stock)?:

Liberty Media Near Major Stake in Sirius XM, FT Reports

By Bill Koenig

Feb. 16 (Bloomberg) -- Liberty Media Corp. may offer $250 million in a senior secured loan as part of a transaction to rescue Sirius XM Radio Inc. from an imminent debt deadline, the Financial Times reported, citing a person familiar with the discussions it didn’t identify.

The deal offered by Liberty would involve a debt for equity swap and leave Liberty Media with a major stake in Sirius XM.

Last Updated: February 16, 2009 17:14 EST