Sirius XM CC 0800 ET Don't be late!

[Newman]

Except for the manipulation games... those play on.

[Big Ben]

After Lehman there was no credit market, none! If we don't take the deal and spread around all of our cash, how would the media spin that one?
Sirius broke! Can't even afford to get to BK court! LOL!

[relmor2003]

After Lehman there was no credit market, none! If we don't take the deal and spread around all of our cash, how would the media spin that one?
Sirius broke! Can't even afford to get to BK court! LOL!

True. I thought it interesting that Mel mentions "multiple bids" from other companies. This Malone deal was the best deal? I find that hard to believe. There attitude towards the question said it all. They would have HUGE LEGAL ISSUES if they were to even hint that another deal was even close to the Malone deal.

[sl62]

sl62, What are you talking about. If you recall back then we talked about the choice was ether giving up 40% of the company or not having alot of COH. I said I would rather not have alot of COH then give up 40% of the company and if that was still the choice I would still feel that way. Now if you read the thread I put up about what I believe happen in the end you would see that I felt they did not have enough COH to take out not only the Feb debt but the May debt also. Ergen fricked up getting those bank facilities extended. Now while there was not the FCF positive I thought was there there still was more then enough COH to take out the Feb. debt and the only way there was a possiblity of bankruptcy was because of the May bank facitilties. Now ask your self why would the banks not extend. There is only one logical reason they saw a better deal with ergen.

888's...

I don't disagree with your logic. All I'm saying is that since Sept. Mel has been saying his goal was FCF and COH. His reasoning was that this is what attracts new investors. I agree with you that Ergen was the fly here. But in general, I suspected the COH would remain fairly high because of Mel's beliefs. He just reiterated it in the CC, where he called out again "Cash is King"...no surprise there to me...so in a way I think this is his way of showing concern for the SP. He wants it back up and his strategy is to finance a little more now, keep the cash in hopes to attract more investors which then increases SP and market cap and thus EV. I think he did the right thing.

[sl62]

True. I thought it interesting that Mel mentions "multiple bids" from other companies. This Malone deal was the best deal? I find that hard to believe. There attitude towards the question said it all. They would have HUGE LEGAL ISSUES if they were to even hint that another deal was even close to the Malone deal.

Oh and another thng revealed for the first time...Mel admitting that they knew what they faced in the credit markets and when BEFORE the LBO was done. We all knew this was true but it's nice to actually hear it from them..and wish the F**K we would have heard that in July!!! Wrods were veeerrry carefully chosen in those days..

[Big Ben]

I'm with you S162. We got cash! We got shit in space! We got reception! We got almost 20m people! And so we got Metallica...all day!

The Zep special had some really good deep cuts.

[sl62]

888's...

I don't disagree with your logic. All I'm saying is that since Sept. Mel has been saying his goal was FCF and COH. His reasoning was that this is what attracts new investors. I agree with you that Ergen was the fly here. But in general, I suspected the COH would remain fairly high because of Mel's beliefs. He just reiterated it in the CC, where he called out again "Cash is King"...no surprise there to me...so in a way I think this is his way of showing concern for the SP. He wants it back up and his strategy is to finance a little more now, keep the cash in hopes to attract more investors which then increases SP and market cap and thus EV. I think he did the right thing.

888's..

Again, don't disagree what you have always said about FCF, et al (and you've been the most stalwart proponent of this company that I know and deserve your props for sure)...regarding the 40%, I think we have bought some pretty valuable elements with that 40%. I'd say it's already paying dividends by that Maffei CNBC interview. Where else could SIRI buy that kind of positive pub?? and I think we will see much more coiming from that "investment". They gave up 40% and aquired a huge strategic partner with loads of potential and even more importantly one that can put rubber on the road immediately in helping this company repair it's image (which it badly needs). I think getting Malone, Maffei, Liberty, et al for 40% (esp given our other alternatives), is a great investment in the present and the future. IMHO...

[Big Ben]

MSM is having trouble spinning the facts. EBITDA prediction is nice and attainable. I love low hurdles.

[sl62]

I'm with you S162. We got cash! We got shit in space! We got reception! We got almost 20m people! And so we got Metallica...all day!

The Zep special had some really good deep cuts.

Well said BB..

We got Led and we got Lars..

[Big Ben]

Looks like we are taking another run at .17.