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 Re: SIRIUS XM Radio - SIRI
very good post minlita...ty
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Sirius XM Prepares Bankruptcy Filing (Chapter 11)
Satellite radio company Sirius XM (SIRI) is preparing for a potential bankruptcy filing, the New York Times reports:
By ZACHERY KOUWE in New York Times
Published: February 10, 2009
Sirius XM Satellite Radio has been working with advisers to prepare for a possible bankruptcy filing in a move that could put pressure on the satellite company EchoStar, which owns a substantial amount of the company’s debt.
Times Topics: Sirius XM Radio Inc.Sirius has been working with the restructuring expert Joseph A. Bondi of Alvarez & Marsal and the bankruptcy lawyer Mark Thompson of Simpson, Thatcher & Bartlett to help prepare a Chapter 11 filing, people close to the company said. The documents and analysis are close to being completed and a filing could come within days, according to a person familiar with the matter.
Sirius, whose radio stars include the popular shock jock Howard Stern, has also been working with the investment bank Evercore Partners.
Charles Ergen, who controls a satellite-television empire including the Dish Network Corporation and EchoStar, recently acquired the majority of a $300 million tranche of Sirius debt that matures next Tuesday.
Since the news about the debt purchase has emerged, questions have surfaced over whether Mr. Ergen will make a bid to purchase Sirius. The threat of a possible bankruptcy filing could force Mr. Ergen to make a formal offer for the company now if he doesn’t want to go through an auction in bankruptcy court.
It could also compel Mr. Ergen to agree to convert his debt into an ownership stake in Sirius at a higher price than he originally considered.
With more than $5 billion in assets, Sirius would be second-largest company to file for Chapter 11 bankruptcy protection so far this year, according to the research firm Capital IQ’s database. The Smurfit-Stone Container Corporation, which had more than $7 billion in assets when it filed in late January, was the biggest so far.
What does this mean?
- EchoStar's Charlie Ergen, who's been building up a large swath of Sirius XM debt, might have to make a formal bid for Sirius XM now. He made an unsolicited offer for the company last year and was shot down, the WSJ reported yesterday.
- Sirius XM's equity would get wiped. Shares dropped 30% after hours to 8 cents, tying an all-time low.
- Sirius XM could get a chance to renegotiate or kill expensive contracts, many of which were inflated based on bidding wars between Sirius and XM. This includes deals with Howard Stern, Major League Baseball, etc.
- The FCC really, really blew it, waiting for more than a year before approving the Sirius XM merger
See Also This News on SIRI:
Sirius XM Got, and Rebuffed, Bid - WSJ.com
EchoStar Gobbling Up Sirius XM Debt (SIRI)
More Trouble For Sirius: Howard Stern Threatening To Retire (SIRI)
Sirius XM's Worst Nightmare: CBS? (SIRI)
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Re: SIRIUS XM Radio - SIRI
Sirius XM in talks with DirecTV, Liberty
NEW YORK (Reuters) - Sirius XM Radio Inc's Chief Executive Mel Karmazin has approached DirecTV Group Inc and Liberty Media in an effort to fend off bankruptcy as well as a bid by EchoStar Corp's Charlie Ergen, media reports said on Wednesday.
The reports come as Sirius XM faces heavy debt payments ahead, and amid widespread views that a deal with Ergen is the most likely and preferable scenario for the satellite radio provider to avoid bankruptcy.
The New York Times reported that Sirius was in preliminary talks with media mogul John Malone's Liberty Media, while the New York Post said Karmazin asked DirecTV to buy it. Liberty Media controls DirecTV.
The Times, quoting people briefed on the negotiations, said it was not clear how advanced the talks between Sirius XM and Liberty were.
The Post, quoting sources, said Karmazin prefers a deal with DirecTV, as merging with Ergen would force him to give up control.
DirecTV declined to comment, while Sirius XM and Liberty Media officials were not immediately available for comment.
(Reporting by Yinka Adegoke and Ritsuko Ando; Editing by Gary Hill)
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Re: SIRIUS XM Radio - SIRI
Keep siri on the radar tues - up 24% .1290 premarket
Liberty Media Nears Sirius XM Deal: Report
02/17/09 - 12:59 AM EST
, LINTA , LCAPA , LMDIA , SIRI , DTV
TSC Staff
TSC Staff
Updated from Monday, Feb. 16 Liberty Media Corp. is close to a deal that would save Sirius XM(SIRI Quote - Cramer on SIRI - Stock Picks) from bankruptcy, according to a published media report.
Liberty Media was near a deal late Monday to invest in Sirius XM in return for just under half of the company, the Wall Street Journal reports, citing people familiar with the matter.
Under the proposed agreement, Liberty would invest several hundred million dollars in Sirius in two stages and eventually control about half of the company, the people said.
Both sides were still negotiating final details, the report said, citing people familiar with the matter. But Liberty Media appeared as if it would edge out media tycoon Charles Ergen for a significant stake in Sirius XM, the report added. Liberty Media and Sirius XM hoped to announce a deal before the opening of the New York stock market Tuesday, the report said.
The New York Times reports Malone is to pay about $265 million now -- which will be used to pay off the $175 million that Sirius XM owes Ergen -- as well as make a second payment of up to about $200 million in the fall to help pay off about another $400 million that Sirius will owe.
The deal also would allow Mel Karmazin, CEO of Sirius XM, to save his job, the Times reports.
It was reported by the Journal on Monday that a group of Sirius XM creditors says it is ready to try to oust Karmazin and other top executives if the troubled satellite radio company files for bankruptcy protection.
Liberty Media controls DirecTV(DTV Quote - Cramer on DTV - Stock Picks), the nation's leading satellite-TV operator.
Sirius XM shares closed Friday up 3 cents at 10 cents. U.S. stock markets were closed Monday in observance of Presidents' Day.
Liberty Media has three tracking stocks: Liberty Interactive(LINTA Quote - Cramer on LINTA - Stock Picks), Liberty Capital(LCAPA Quote - Cramer on LCAPA - Stock Picks) and Liberty Entertainment(LMDIA Quote - Cramer on LMDIA - Stock Picks).
Disclaimer - All signatures are purely my own opinion and should not be interpreted as buy and sell signals. It is the responsibility of the reader to do their own DD and choose when to pull the trigger. As always good luck and happy trading.
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Re: SIRIUS XM Radio - SIRI
Looks like they Avoided Bankruptcy for now. Maybe if things go well with subscriber growth the company might survive after all.
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Re: SIRIUS XM Radio - SIRI
AP
Sirius closes $530 million Liberty investment deal
Friday March 6, 7:00 pm ET
Sirius extends debt maturity, closes $530 million Liberty investment deal
NEW YORK (AP) -- Sirius XM Radio Inc. on Friday said it has closed the $530 million investment deal with Liberty Media Corp. and extended the maturity of certain debt coming due in two months, to 2010.
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The completion of the deals gives Sirius XM about a year's breathing room. While the satellite radio's service is popular, it has been struggling under a heavy debt load. It faced a bankruptcy filing if it couldn't refinance or pay off debt coming due this year.
Charlie Ergen, chief executive of Dish Network Corp., fought for control of Sirius after buying a substantial amount of debt due last month. But Sirius turned to Liberty Media.
Liberty, led by media mogul John Malone, agreed to loan funds to Sirius. It also received 12.5 million shares of new preferred stock convertible into a 40 percent Sirius stake.
Of Liberty's $530 million investment, $280 million was used to pay off $171.6 million of debt due last month and the rest went toward general corporate uses for Sirius.
Sirius had $350 million coming due in May, but the maturity on $250 million was extended to May 2010. The other $100 million was replaced by a Liberty loan maturing in May 2011. These loans will carry interest rates of prime plus 11 percent to LIBOR plus 12 percent, with a floor of 3 percent for LIBOR, according to a late Friday Securities and Exchange Commission filing.
Sirius has $226 million coming due in December. Liberty will replace $150 million of that debt for new debt due in 2011. The rest will be paid from cash, Sirius said. The Liberty loan carries a 15 percent annual interest rate.
Shares of Sirius were up 1.5 cents to close at 14.5 cents on Friday
All my signatures are purely my opinion. Please use your own buy and sell signals and never invest in a stock you can not afford to lose money on.
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Re: SIRIUS XM Radio - SIRI
SIRIUS XM Radio - SIRI at .33 here and going pretty good today. Might be a gapper play for tomorrow morning if we can close near or at the high of the day
 Originally Posted by Stock_Analyzer
All my signatures are purely my opinion. Please use your own buy and sell signals and never invest in a stock you can not afford to lose money on. For a complete disclaimer click here
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Re: SIRIUS XM Radio - SIRI
Be very interesting to see what siri does this week with that 200 dma sitting around .62 here. Been in quite an uptrend since they received that bridge loan a few months ago. I think it it will definitely hit it, but breaking it I'm not so sure, should be interesting to see though. Good Luck and Happy Trading.
Disclaimer - All signatures are purely my own opinion and should not be interpreted as buy and sell signals. It is the responsibility of the reader to do their own DD and choose when to pull the trigger. As always good luck and happy trading.
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 Sirius XM Radio Inc. - Will this be the week that it jumps to its new support level?
SIRI closed at 0.3429 a share but surged to over 0.40 in after hours trading before settling at 0.39.
This surge was due in part to the long awaited announcement of an app for the Iphone finally being made available. All that Sirius needs to break out of the troubled waters that is has been in since the merger is to bring in more revenue, will the Iphone app be enough?
Come Monday the 22nd of June 2009 look for SIRI to rise, but it will only be able to sustain on positive news regarding the Iphone app.
I'm seeing Siri at over 1.00 by this time next year (without a reverse split).
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Volkswagen Launches Introductory Trial of SIRIUS on Certified Pre-Owned Vehicles
Volkswagen Launches Introductory Trial of SIRIUS on Certified Pre-Owned Vehicles
Volkswagen Launches Introductory Trial of SIRIUS on Certified Pre-Owned Vehicles
3-month trial of SIRIUS' sports, news, talk, entertainment and commercial-free music to be offered on 'Certified Pre-Loved' vehicles, VW's award-winning certified pre-owned program
NEW YORK and HERNDON, Va., June 23 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) and Volkswagen of America, Inc. today announced that Volkswagen customers will receive an introductory 3-month trial offer of the 'SIRIUS Everything' package upon the purchase of SIRIUS-equipped 'Certified Pre-Loved' Volkswagen vehicles sold in the U.S.
(Logo: http://www.newscom.com/cgi-bin/prnh/...19/NYTU044LOGO)
'We are very excited to be partnering with SIRIUS XM Radio for this special customer offer,' stated Chris Hoehner, General Manager VW Fleet & CPO. 'Volkswagen is consistently looking for new ways to position our 'Certified Pre-Loved' program as industry leading. We feel this program helps enhance our value proposition and continues to strengthen our pursuit to provide the best possible customer experience. This partnership also helps reinforce our commitment to live up to our customers' expectations as the 'Best Non-Luxury Certified Pre-Owned Program' from IntelliChoice.' VW's 'Certified Pre-Loved' program has received this award from IntelliChoice five years running.
'The launch of this certified pre-owned program strengthens our shared commitment to give drivers the very best audio experience possible,' said Steve Cook, Group Vice President and General Manager, SIRIUS XM Radio. 'Volkswagen's award-winning 'Certified Pre-Loved' program is part of our expanded offering of the best audio entertainment in certified pre-owned vehicles.'
Volkswagen has exclusively offered SIRIUS beginning with its 2007 model year vehicles. SIRIUS is currently standard on the GTI, GLI, Eos, New Beetle, New Beetle convertible, Passat, Passat wagon and Touareg. SIRIUS is also standard on select Tiguan, Jetta and Rabbit packages.
About Volkswagen of America, Inc.
Founded in 1955, Volkswagen of America, Inc. is headquartered in Herndon, Virginia. It is a subsidiary of Volkswagen AG, headquartered in Wolfsburg, Germany. Volkswagen is one of the world's largest producers of passenger cars and Europe's largest automaker. Volkswagen sells the Rabbit, New Beetle, New Beetle convertible, GTI, Jetta, Jetta SportWagen, Eos, GLI, Passat, Passat wagon, CC, Tiguan, Touareg 2 and Routan through approximately 600 independent U.S. dealers. All 2009 Volkswagens come standard-equipped with Electronic Stabilization Program. This is important because the National Highway and Traffic Safety Administration (NHTSA) has called ESC the most effective new vehicle safety technology since the safety belt. Visit Volkswagen of America online at vw.com or VW Newsroom - Latest Volkswagen News to learn more.
About SIRIUS XM Radio
SIRIUS XM Radio is America's satellite radio company delivering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather.
SIRIUS XM Radio has content relationships with an array of personalities and artists, including Howard Stern, Martha Stewart, Oprah Winfrey, Jimmy Buffett, Jamie Foxx, Barbara Walters, Opie & Anthony, Bubba the Love Sponge(R), The Grateful Dead, Willie Nelson, Bob Dylan, Tom Petty, and Bob Edwards. SIRIUS XM Radio is the leader in sports programming as the Official Satellite Radio Partner of the NFL, Major League Baseball(R), NASCAR(R), NBA, NHL(R), and PGA TOUR(R), and broadcasts major college sports.
SIRIUS XM Radio has arrangements with every major automaker. SIRIUS XM Radio products are available at shop.sirius.com and shop.xmradio.com, and at retail locations nationwide, including Best Buy, RadioShack, Target, Sam's Club, and Wal-Mart.
SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon Network; XM NavTraffic(R) service for GPS navigation systems delivers real-time traffic information, including accidents and road construction, for more than 80 North American markets.
This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving SIRIUS and XM, including potential synergies and cost savings and the timing thereof, future financial and operating results, the combined company's plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as 'will likely result,' ' are expected to,' 'anticipate,' 'believe,' 'plan,' 'estimate,' 'intend,' 'will,' 'should,' 'may,' or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of SIRIUS' and XM's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of SIRIUS and XM. Actual results may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: our substantial indebtedness; the businesses of SIRIUS and XM may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; the useful life of our satellites; our dependence upon automakers and other third parties; our competitive position versus other forms of audio and video entertainment; and general economic conditions. Additional factors that could cause SIRIUS' and XM's results to differ materially from those described in the forward-looking statements can be found in SIRIUS' Annual Report on Form 10-K for the year ended December 31, 2008 and XM's Annual Report on Form 10-K for the year ended December 31, 2008, which are filed with the Securities and Exchange Commission (the 'SEC') and available at the SEC's Internet site (U.S. Securities and Exchange Commission (Home Page)). The information set forth herein speaks only as of the date hereof, and SIRIUS and XM disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.
O-SIRI
Contacts for SIRIUS XM Radio:
Sal Resendez
SIRIUS XM Radio
sal.resendez@siriusxm.com
646 313 2405
SOURCE SIRIUS XM Radio
Source: PR Newswire (June 23, 2009 - 6:00 AM EDT)
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All my signatures are purely my opinion. Please use your own buy and sell signals and never invest in a stock you can not afford to lose money on. For a complete disclaimer click here
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