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  1. imromo24 is offline
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    02-21-2009, 05:17 PM #51
    Quote Originally Posted by SiriusXMInvestor View Post
    This is a scathing breakdown of the Liberty deal. If this is all true, we are done.

    http://www.briefing.com/GeneralConte...headOfTheCurve
    sorry, this is the article i was talking about the bondholders.
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  2. Demian is offline
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    02-21-2009, 05:48 PM #52
    Quote Originally Posted by SiriusXMInvestor View Post
    This is a scathing breakdown of the Liberty deal. If this is all true, we are done.

    http://www.briefing.com/GeneralConte...headOfTheCurve
    That article was already posted and discussed earlier in this thread. Homer posted a pretty detailed response to this article and a little background about it's author...

    I don't agree with the article's conclusions, nor do I think we are done...
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  3. Dustyoden is offline
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    02-21-2009, 05:56 PM #53
    If the second part of the loan goes through (and I still don't think it will) would it not make sense for Malone to start buying common and start pushing towards that 49.9% max (after the second loan is in the books). The stock is obvioulsy going to be cheaper now than it will in 3 years when Sirius is profitable and even if there is no intention now to become the majority shareholder it would seem to be in Liberty's best interest to have more control now and closer to majority interest when 3 years are up to keep options open. Even with the govt being an issue in 3 years, Liberty could save a lot of money by buying common sooner rather than later.
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  4. Demian is offline
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    02-22-2009, 01:08 AM #54
    Quote Originally Posted by Newman View Post
    If the second phase of the agreement happens, Malone loans Sirius 150 million, and then buys upto 100 million of debt. That up to 100 million does not have to be paid back (and is the only portion that doesnt have to be paid back).

    Basically, they were given 40% of the company in exchange for 100 million in cash because everything else must be paid back.
    Where does it say that SIRI doesn't have to pay Liberty back for the "up to $100 Million" of debt and what is up with this "up to 100 Million" crap? If SIRI doesn't have to pay it back, why wouldn't Liberty just buy $1 Million or even $100 dollars instead of the full $100 Million? There is no minimum amount required apparently, but a max of "up to 100 Million"?
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  5. Demian is offline
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    02-22-2009, 07:40 PM #55
    Quote Originally Posted by Dustyoden View Post
    If the second part of the loan goes through (and I still don't think it will) would it not make sense for Malone to start buying common and start pushing towards that 49.9% max (after the second loan is in the books). The stock is obvioulsy going to be cheaper now than it will in 3 years when Sirius is profitable and even if there is no intention now to become the majority shareholder it would seem to be in Liberty's best interest to have more control now and closer to majority interest when 3 years are up to keep options open. Even with the govt being an issue in 3 years, Liberty could save a lot of money by buying common sooner rather than later.
    I think your theory has merit, but I also think that Malone and Liberty may wait until they are sure that Phase 2 is really going to go through. Mel may just be using this Phase 2 agreement to buy more time and strengthen his negotiating power...by not having his back up against the wall. This pending Phase 2 agreement with Liberty strengthens his negotiations with the bond holders, since Malone and Liberty would be put first in line ahead of the bond holders...
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  6. Dustyoden is offline
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    02-22-2009, 08:11 PM #56
    Couldn't agree more. That is exactly what I have been saying. As for Malone buying stock now I should have phrased it better as I meant once the second part of the loan is signed by all parties and in the books then he buys up common to push towards the 49.9%.
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  7. Demian is offline
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    02-23-2009, 03:21 AM #57
    What about this scenario?

    Malone buys up the common now and then offers SIRI better terms with little to no dilution that replaces the current Phase 2........the stock skyrockets.
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  8. Demian is offline
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    02-23-2009, 03:32 PM #58
    ....or this scenario?

    Mel renegotiates the rest of the '09 bank and bond debt using his current agreement with Malone to help his case. Q4 shows tons of cash on hand. Mel tells Malone to **** off....no dilution and the stock skyrockets.
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  9. Hughes is offline
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    02-23-2009, 04:20 PM #59
    Quote Originally Posted by Demian View Post
    ....or this scenario?

    Mel renegotiates the rest of the '09 bank and bond debt using his current agreement with Malone to help his case. Q4 shows tons of cash on hand. Mel tells Malone to **** off....no dilution and the stock skyrockets.
    Sounds good to me.
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  10. Hopeful is offline
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    02-24-2009, 12:01 AM #60
    Me too!!! The April 15th cut off for Mel to back out of the deal would have only been put in place if Mel intended to do so... Am I wrong?
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