
Originally Posted by
SIRIHILL
This is copied from a google discussion post...
Is anyone else eagerly awaiting Wednesday week? As an investor in
SIRI, I think this date is very material to the potential future
prospects of the company. It's the final date that another company can
approach SiriusXM and offer a better deal than Liberty did. My view is
other industry players (if they weren't already aware of the potential
fortune to be made from saving Sirius) would certainly be aware of it
post Liberty's investment in Feb. If any other bigger industry players
view Sirius as a serious potential for the future, there may be more
to this story than has already been written. Personally, I am ok with
having Liberty as a partner but they did extract their pound and a
half of flesh - they are getting 40% equity in the company for simply
rolling the debt over, along with a 15% coupon on the debt. While this
is a highly penal rate for SIRI, it did ensure the company's survival,
so we'll live with it. But there is the potential for another media /
cash rich company to come in and make a marginally less penal offer to
Sirius and steal the deal from Liberty. I am sure this is a long shot
and has been more hope value for me over the past couple of months but
we as investors will know for certain either way by April 15th.