up soon
Dishnetwork is trying to obtain the company but Hard head Mel thinks he can make this work...He wont and he cant..
If he doesnt let them takeover within the next 2 weeks they are done for...
And if you bought this company at 2 bucks and now at .11 your just now worrying about it then u had it to lose anyway....
If he doesnt let them takeover within the next 2 weeks they are done for...
And if you bought this company at 2 bucks and now at .11 your just now worrying about it then u had it to lose anyway....
Down to 0.05
They gave Stern an uncensored platform and for that it has been a truly great service. Other than that it has virutally nothing to offer. Sports talk is way too ad heavy and way too much hot air to be worth any monthly fee. Music is good, but anyone can get free music anywhere. Ten to 20 years ago when people were still paying $15 for CDs it might have worked. With youtube and itunes and mp3 players no one will pay for it
Still, at a nickle a share now, what risk is there to buying a few hundred shares? Or is it pretty certain all shares will be worth zero in a matter of weeks?
They gave Stern an uncensored platform and for that it has been a truly great service. Other than that it has virutally nothing to offer. Sports talk is way too ad heavy and way too much hot air to be worth any monthly fee. Music is good, but anyone can get free music anywhere. Ten to 20 years ago when people were still paying $15 for CDs it might have worked. With youtube and itunes and mp3 players no one will pay for it
Still, at a nickle a share now, what risk is there to buying a few hundred shares? Or is it pretty certain all shares will be worth zero in a matter of weeks?
Still beats terrestrial radio. Can't stand listening to static.
MLB, NHL, NFL & NBA games from allover. Can't beat satellite radio.
Music is much better as well. I can listen to the music I like on satellite radio instead of listening to music that the music industry wants me to like.
Honestly I don't see it folding.
MLB, NHL, NFL & NBA games from allover. Can't beat satellite radio.
Music is much better as well. I can listen to the music I like on satellite radio instead of listening to music that the music industry wants me to like.
Honestly I don't see it folding.
Actually the uncensored format ended up killing the Stern Show. They cant get guests anymore because no agent will let them go on fearing a carreer ending fuck up...
"is it pretty certain all shares will be worth zero in a matter of weeks? "
Its not certain but likely. If Dish or somebody doesnt take them over then bankruptcy is certain within weeks if not days....and even if they do they will buy at next to nothing, which is about what its selling for anyway. I dont see any scenario where these shares could increase in value at all...
"is it pretty certain all shares will be worth zero in a matter of weeks? "
Its not certain but likely. If Dish or somebody doesnt take them over then bankruptcy is certain within weeks if not days....and even if they do they will buy at next to nothing, which is about what its selling for anyway. I dont see any scenario where these shares could increase in value at all...
to much debt they will file chap 11 and we will lose but I have made a some off this company in the past so my lose is going to be minimal but still a loss. If I wasn't so sure I would buy at the .05 for sure but there is no other way for them to do it. Great concept just not run right.
Basic economics of a bad business plan:
Before you ever decide to SELL a product (Satellite Radio)make sure your competition is not giving the product out for free (Terrestial radio).
You wont be able to compete if your competiton is underselling you or in this case giving it away for free, Duh..
Before you ever decide to SELL a product (Satellite Radio)make sure your competition is not giving the product out for free (Terrestial radio).
You wont be able to compete if your competiton is underselling you or in this case giving it away for free, Duh..
Our Condolences to Sirius Shareholders
<CITE>Posted Feb 11, 2009 10:20am EST by Rory Maher in Investing, Electronics, Media, Information Technology, Banking</CITE> Related: SIRI, SATS
From paidContent.org, Feb. 11. 2009:
So much for all those people who bought Sirius (NSDQ: SIRI) stock last week. The company’s shares almost doubled on Feb. 4 following reports that Echostar (NSDQ: SATS) CEO Charlie Ergen was aiming to cut a deal with Sirius to take control of the beleaguered satellite radio operator. But it’s becoming increasingly clear--as we reported at the time--that the power play between Ergen and Sirius CEO Mel Karmazin isn’t going to end well for shareholders. With Karmazin now seeing Chapter 11 as a viable option, or at least a negotiating ploy with Ergen, the shares plummeted in after-hours trading, to below $0.10. Here are the likely possible scenarios moving forward--and either way, shareholders are in trouble:
--Ergen and Karmazin cut a deal, injecting some cash into Sirius and converting its remaining $500 million-plus into equity. Common shareholders get diluted to virtually nothing.
--Sirius goes into Chapter 11 bankruptcy. Common shareholders are wiped out.
<CITE>Posted Feb 11, 2009 10:20am EST by Rory Maher in Investing, Electronics, Media, Information Technology, Banking</CITE> Related: SIRI, SATS
From paidContent.org, Feb. 11. 2009:
So much for all those people who bought Sirius (NSDQ: SIRI) stock last week. The company’s shares almost doubled on Feb. 4 following reports that Echostar (NSDQ: SATS) CEO Charlie Ergen was aiming to cut a deal with Sirius to take control of the beleaguered satellite radio operator. But it’s becoming increasingly clear--as we reported at the time--that the power play between Ergen and Sirius CEO Mel Karmazin isn’t going to end well for shareholders. With Karmazin now seeing Chapter 11 as a viable option, or at least a negotiating ploy with Ergen, the shares plummeted in after-hours trading, to below $0.10. Here are the likely possible scenarios moving forward--and either way, shareholders are in trouble:
--Ergen and Karmazin cut a deal, injecting some cash into Sirius and converting its remaining $500 million-plus into equity. Common shareholders get diluted to virtually nothing.
--Sirius goes into Chapter 11 bankruptcy. Common shareholders are wiped out.
DirecTV in talks with Sirius XM
[COLOR=#333333! important]The satellite radio firm is said to be on the brink of bankruptcy or yielding to EchoStar.[/COLOR]
Bloomberg News
8:25 PM PST, February 11, 2009
DirecTV Group Inc., the largest U.S. satellite-television provider, is in talks with Sirius XM Radio Inc. about a possible deal, according to people close to the situation.
An accord may help prevent Sirius XM from seeking bankruptcy protection or agreeing to a deal with satellite company EchoStar Corp. less than a year after Sirius Chief Executive Mel Karmazin completed the merger of the only two U.S. pay-radio providers.
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Sirius XM has $3.25 billion in total debt and has until Tuesday to repay $175 million in bonds held by EchoStar.
Both EchoStar and DirecTV, the El Segundo pay television company controlled by John Malone's Liberty Media Corp., could use Sirius XM's satellite capacity to integrate radio and television services, said Fred Moran, an analyst at Stanford Group.
EchoStar has been buying Sirius XM's debt since making an unsuccessful takeover bid in December, said one person with knowledge of the matter.
"All of these companies are satellite-delivered media," Moran said. "If you can cross-market, cross-promote and intertwine services between satellite video and satellite audio, you could strengthen your competitive position."
Patrick Reilly, a spokesman for Sirius XM, and Robert Mercer, a DirecTV spokesman, declined to comment.
Under one scenario, DirecTV could buy out shareholders and repay Sirius XM's debts, said one of the people, who declined to be identified because the talks aren't public.
Another person said that a deal with DirectTV may be hampered because of a possible bankruptcy filing by Sirius. In that case, EchoStar, led by Chief Executive Charles Ergen, would be the favored buyer because of its bond holdings in Sirius, the person said.
Sirius XM, based in New York, has traded for less than $1 since Sept. 10 as investors became concerned that Karmazin, 65, wouldn't be able to manage the debt or meet growth projections. The company has $350 million in bank loans due in May and $400 million in convertible bonds due in December.
In August, Karmazin said he accepted an "ugly" debt deal to complete the merger of Sirius and XM before terrestrial radio rivals could block it. In November, he cut his forecast for 2009 subscriber growth by almost 1 million as collapsing auto sales cut demand for car radios.
Sirius XM shares fell 52% to 5.5 cents. EchoStar declined 60 cents to $15.15 and has dropped 57% in the past year. DirecTV rose 64 cents to $22.94 and has declined 1.5% in the past year.
Sirius XM has been preparing a possible bankruptcy filing, newspapers reported Wednesday, citing unidentified people close to the company.
Roger Altman, chief executive of investment bank Evercore Partners Inc., confirmed Wednesday that his firm was working with Sirius XM. He wouldn't say whether the work involved mergers and acquisitions or restructuring.
[COLOR=#333333! important]The satellite radio firm is said to be on the brink of bankruptcy or yielding to EchoStar.[/COLOR]
Bloomberg News
8:25 PM PST, February 11, 2009
DirecTV Group Inc., the largest U.S. satellite-television provider, is in talks with Sirius XM Radio Inc. about a possible deal, according to people close to the situation.
An accord may help prevent Sirius XM from seeking bankruptcy protection or agreeing to a deal with satellite company EchoStar Corp. less than a year after Sirius Chief Executive Mel Karmazin completed the merger of the only two U.S. pay-radio providers.
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Sirius XM has $3.25 billion in total debt and has until Tuesday to repay $175 million in bonds held by EchoStar.
Both EchoStar and DirecTV, the El Segundo pay television company controlled by John Malone's Liberty Media Corp., could use Sirius XM's satellite capacity to integrate radio and television services, said Fred Moran, an analyst at Stanford Group.
EchoStar has been buying Sirius XM's debt since making an unsuccessful takeover bid in December, said one person with knowledge of the matter.
"All of these companies are satellite-delivered media," Moran said. "If you can cross-market, cross-promote and intertwine services between satellite video and satellite audio, you could strengthen your competitive position."
Patrick Reilly, a spokesman for Sirius XM, and Robert Mercer, a DirecTV spokesman, declined to comment.
Under one scenario, DirecTV could buy out shareholders and repay Sirius XM's debts, said one of the people, who declined to be identified because the talks aren't public.
Another person said that a deal with DirectTV may be hampered because of a possible bankruptcy filing by Sirius. In that case, EchoStar, led by Chief Executive Charles Ergen, would be the favored buyer because of its bond holdings in Sirius, the person said.
Sirius XM, based in New York, has traded for less than $1 since Sept. 10 as investors became concerned that Karmazin, 65, wouldn't be able to manage the debt or meet growth projections. The company has $350 million in bank loans due in May and $400 million in convertible bonds due in December.
In August, Karmazin said he accepted an "ugly" debt deal to complete the merger of Sirius and XM before terrestrial radio rivals could block it. In November, he cut his forecast for 2009 subscriber growth by almost 1 million as collapsing auto sales cut demand for car radios.
Sirius XM shares fell 52% to 5.5 cents. EchoStar declined 60 cents to $15.15 and has dropped 57% in the past year. DirecTV rose 64 cents to $22.94 and has declined 1.5% in the past year.
Sirius XM has been preparing a possible bankruptcy filing, newspapers reported Wednesday, citing unidentified people close to the company.
Roger Altman, chief executive of investment bank Evercore Partners Inc., confirmed Wednesday that his firm was working with Sirius XM. He wouldn't say whether the work involved mergers and acquisitions or restructuring.
I posted:
"Basic economics of a bad business plan:
Before you ever decide to SELL a product (Satellite Radio)make sure your competition is not giving the product out for free (Terrestial radio).
You wont be able to compete if your competiton is underselling you or in this case giving it away for free, Duh.."
Answered:
BUT you can't get the same programming on Terrestrial as you can with Satellite. Satellite will always be superior.
Rebuttle: True, different programing, but the custumers are not willing to pay for it. Free trumps for pay in business. UNLESS the product you are selling is hands on above quality over the free product.
Cable TV versus Free TV. HBO is succesful because they put out a quality product that people are willing to pay for.
As far as Sirus goes the only thing they appear to have going for them is Howard Stern swearing, most people are not willing to pay for that; it seems.
"Basic economics of a bad business plan:
Before you ever decide to SELL a product (Satellite Radio)make sure your competition is not giving the product out for free (Terrestial radio).
You wont be able to compete if your competiton is underselling you or in this case giving it away for free, Duh.."
Answered:
BUT you can't get the same programming on Terrestrial as you can with Satellite. Satellite will always be superior.
Rebuttle: True, different programing, but the custumers are not willing to pay for it. Free trumps for pay in business. UNLESS the product you are selling is hands on above quality over the free product.
Cable TV versus Free TV. HBO is succesful because they put out a quality product that people are willing to pay for.
As far as Sirus goes the only thing they appear to have going for them is Howard Stern swearing, most people are not willing to pay for that; it seems.
Customers have been willing to pay the $12 per month for it. The problem was the huge debt load they were forced to carry, then waiting so long for the merger to go through. And the competition isn't even AM and FM radio (I find it funny how the term terrestrial radio was invented because of satellite radio); the competition is all the other technology toys people will spend their money on ... ipods and iphones and blu-ray and wii and broadband
If 10 years ago every new car came equiped with satellite radio it would have done well. If the two companies never competed against each other and pooled resources from the begining, doubtful it would be bankrupt. Even now, if it could be packaged with internet and cable it could survive
If 10 years ago every new car came equiped with satellite radio it would have done well. If the two companies never competed against each other and pooled resources from the begining, doubtful it would be bankrupt. Even now, if it could be packaged with internet and cable it could survive
