Liberty Media to invest in Sirius XM Radio

[ProPokerPlayer]

Sirius XM Radio and Liberty Media say they have signed a deal in which Liberty will invest $530 million in the financially struggling satellite radio company.
Sirius XM Radio Inc. <ORGID idsrc="nasdaq" value="SIRI"></ORGID>(nasdaq: SIRI - news - people ) and Liberty Media Corp. <ORGID idsrc="nasdaq" value="LCAPA"></ORGID>(nasdaq: LCAPA - news - people ) said Tuesday the investment's first phase includes a $280 million senior secured loan $250 million of which will be funded Tuesday. Liberty will get 12.5 million shares of preferred stock convertible into 40 percent of Sirius's common shares, and two seats on the company's board.
Yahoo! Buzz
New York-based Sirius had said Friday it could file for bankruptcy as early as Tuesday if it cannot negotiate with its debt holders.

 

[HacheMan]

Anyone here use satellite radio?

 

[anpyanks]

Anyone here use satellite radio?

i do... i wasnt aware that there were people that dont use satelitte radio

 

[G.MONEY]

Yes..Have had it for about 1 year in my car and nothing better for National Info on everything from Sports to Buisness.

 

[LEYKIS101]

I think there's plenty here that have satellite radio, I sure wouldn't want to be without mine, especially when driving long distance.

Soumi

 

[doubledeuce22]

satellite radio is like direct tv....... one you get it, you dont know how you functioned without it

 

[FairWarning]

satellite radio is like direct tv....... one you get it, you dont know how you functioned without it

Exactly.