On Friday, Sirius XM Radio Inc. sent out an email with the subject line teasing "Something big is coming..." adding that we will find out next week why Sirius or XM make more sense than ever.February 2009 Archives
On Friday, Sirius XM Radio Inc. sent out an email with the subject line teasing "Something big is coming..." adding that we will find out next week why Sirius or XM make more sense than ever.
Last night, the team at NiceMac announced that Apple Inc. has notified the developers that the iPhone App for streaming Sirius XM Radio was not accepted for inclusion into the iTunes App Store.It's important to note that this isn't the end of the process, and the door is still open when it comes to opening up satellite radio to iPhone users.
With the 2009 Spring Training season literally right around the corner, satellite radio subscribers have been anxiously waiting to find out if a deal will be announced between Major League Baseball and Sirius XM Radio Inc., in hopes that MLB games will air on the Sirius side of the service.But baseball fans may need to wait a bit longer, according to an Orbitcast source.
Sirius XM Radio's Willie's Place channel today will broadcast a live performance by Willie Nelson and Asleep at the Wheel direct from Carl's Corner, Texas.The concert will cap off a full day of live broadcasts from Sirius XM's studio at the truck stop complex and celebrate the 5th annual grand opening of Willie's Place bio-diesel truck stop and "Night Life" theater.
That's the word from a recent Wall Street Journal article, which points out that the allure of Sirius XM Radio Inc. to media moguls like John Malone could be all tax losses that the company carries with it.
Sirius XM Radio will broadcast a special Oscars edition of Cinemagic on Sirius XM Stars this Sunday, February 22nd. The special will feature a marathon of personal interviews with directors Ron Howard, Darren Aronofsky and Danny Boyle, and will air continuously leading up to the Academy Awards.
Once again, trade publication Talker's Magazine has released its "Heavy Hundred" list of top talk radio hosts. And, once again, satellite radio's talkers have been lowered in their rankings.
Last year, Howard Stern came in at #13, while Opie & Anthony were ranked #17. But this year? None of them ranked even in the Top 20.
Satellite veteran Charlie Ergen put forth a proposal that was larger than Liberty Media's offer in return for a 51% stake in satellite radio provider Sirius XM Radio Inc., according to a report by the Wall Street Journal citing people familiar with the matter.
So now that John Malone has bailed out Sirius XM Radio Inc. with an injection of $530 million dollars this year, what does this mean for consumers? How will this affect the 20-or-so million satellite radio subscribers?
DONE DEAL: Sirius XM Radio Inc. and Liberty Media Corporation have reached an agreement in which Liberty would invest an aggregate amount of $530 million into Sirius XM, in return for an equity stake in the company.
That's the cliffhanger question on everyone's mind this morning. A decision by Sirius XM Radio Inc. needs to be made before close-of-business today, and the latest reports vary on what the terms are.The Financial Times is reporting that Liberty Media is offering $250 million as part of a "multi-stage" loan, while the New York Times is reporting a $265 million for the first round, eventually reaching $450 million.
Sirius XM Radio Inc. and Liberty Media Inc. near a deal late Monday though negotiations still remain over the final details, reports the Wall Street Journal citing people familiar with the matter.
A group of creditors have threatened to remove Sirius XM Radio Inc. CEO Mel Karmazin if the company chooses to file for bankruptcy over a striking a deal with an investor that would allow it to remain solvent, reports the Wall Street Journal.Additionally, the WSJ is reporting that a final decision by Sirius XM's Board is expected Monday.
Sirius XM Radio Inc. might not make a final decision on the financing offer from Liberty Media until late Monday or Tuesday, reports the Financial Times. The offer by John C. Malone (pictured, inset) would repay $175m in bonds and stave off the threat of a takeover by EchoStar and is said to be a more favorable deal than that by Charlie Ergen.
Liberty Media Corp. is offering Sirius XM Radio Inc. a bridge loan of several hundred million dollars to help save the company from bankruptcy and pay off debt that matures on Tuesday, according to The New York Post.
Sirius XM Radio Inc. just announced that they have exchanged the $172 million in notes due in December 2009, for notes that will instead due in 2011.
More details to follow in an SEC filing, but they owed a total of $400 million in December before this transaction
Sirius XM still remains in discussions with others with respect to transactions that come due next Tuesday. The company clearly highlights in its press release that if these transactions are not consummated, they may be forced to file for bankruptcy protection as early as February 17, 2009.
Read the full press release after the jump...
With only days to go until a critical deadline, Sirius XM Radio Inc remain in talks with potential investor Liberty Media Corp, according to a Reuters source.Additionally, CNBC's The Faber Report is reporting that Liberty Media is presenting their plan to the Sirius XM Radio Board of Directors today.
If true, this could be an indication that talks have advanced further than previously expected.
Talks over taking over Sirius XM Radio Inc. have "significantly narrowed" recently as Mel Karmazin and Charlie Ergen move closer to reaching an agreement, reports the Wall Street Journal. Still, Karmazin continues to maintain rival discussions with Liberty Media's John C. Malone, in an attempt to rescue the satellite radio provider from bankruptcy.
In the middle of trying to save Sirius XM Radio Inc. from the dual specters of bankruptcy and an unsolicited takeover, Mel Karmazin is reportedly trying to renegotiate pricey programming deals with the likes of Oprah Winfrey, MLB and the NFL.
Sirius XM Radio Inc. is in "advanced" talks with Liberty Media Corp. in a last-ditch effort to save itself from an unsolicited takeover by Echostar, according to sources at the Wall Street Journal.It sets the stage for what feels like the Battle At Kruger with the nation's two leading Satellite Television providers locking horns over the nation's sole Satellite Radio provider.
But with such little time left, will John C. Malone (pictured) emerge as Mel Karmazin's white knight?
Sirius XM Radio Inc. is reportedly in preliminary talks with Liberty Media, a media conglomerate that owns DirecTV among several other properties, reports the New York Times' DealBook Blog and the New York Post.
An agreement between Sirius XM and Liberty would create a wrinkle in the takeover plans by rival EchoStar, and could save Karmazin from having to file for bankruptcy.
With all this talk about debt and takeovers, it's easy to look only this through the eyes of shareholders and the company. But how would a Sirius XM bankruptcy affect subscribers? According to analysts, consumers can breathe easy.
Charlie Ergen offered to restructure Sirius XM Radio Inc. debt and inject several hundred million dollars into the company in return for control, according to the Wall Street Journal. The overture, as we now know, was refused late last year, but still remains on the table.
Sirius XM Radio Inc. are preparing for a bankruptcy filing, according to a published report by the New York Times. The filing could come "within days" reports the Times, citing a person familiar with the matter.
Charlie Ergen may need to spend $100 million or more if he wants to take control of Sirius XM Radio Inc., according to a Reuters report citing research firm CreditSights.
Satellite mogul Charles Ergen made an offer late last year to take control of Sirius XM Radio Inc. but was refused by the company, reports the Wall Street Journal citing people familiar with the matter.Ergen proposed injecting enough capital into Sirius XM Radio to avoid its debt obligations and bankruptcy - and while he was rebuffed at the time - Ergen has reiterated his interest in taking control of the company.
But what are his motivations?
The folks over at Slacker Radio know that lots of Orbitcast readers are into their personal radio service. In fact, I've been told by Slacker that there's been a recent influx of Sirius XM listeners signing up.
I thought it would be a cool idea to put together a giveaway of the Slacker Radio Plus package to Orbitcast readers. I actually asked a lot of folks on Twitter ahead of time to gauge whether they would be into it, and the response was really encouraging.
So after several days of working with Slacker, we're ready to do a giveaway.
So after several days of working with Slacker, we're ready to do a giveaway.
It's a question that I've been asked via email, and I think it's a good one that needs to be discussed publicly. Would a Democratic-controlled FCC (currently headed up by Michael Copps, pictured above) allow for an EchoStar takeover of Sirius XM Radio Inc.?
According to the Wall Street Journal, Charles Ergen's EchoStar Corp. has been accumulating substantial portions of debt from Sirius XM Radio Inc. in what could be the first move in an attempt to take over the company.
In the same mold of the Slacker Blackberry app, Slacker Radio is now available for the Blackberry Storm.
Optimized for the Storm's touchscreen interface, the Slacker app can be downloaded for free by accessing slacker.com via your Storm.
Sirius XM Radio Inc. are expanding Bob Dylan's award-winning Theme Time Radio Hour show to open up multiple hours of uninterrupted listening on The Spectrum channel.
With $174.6 million in debt due in just about two weeks, word has come out that Sirius XM Radio Inc. are in "advanced" talks about taking on that debt.
I've been giving a lot of thought lately about how Satellite Radio has
matured as a technology and media phenomenon.
Sure, we've heard all the talk about how the industry has grown faster than satellite TV, cellular and even CD players - but that all seems unreasonable with all the bad news surrounding Sirius XM Radio Inc.
The question I have is whether all the bad news - while very much real - is also being greatly exaggerated.
Enter the Hype Cycle.
It was only a few years ago that Satellite Radio could do no wrong. Both Sirius and XM were signing on talent at a dizzying rate. Debt made no difference. Contract prices? Who cares! This was the future of radio, and subscribers were coming on at a maddening pace.
There was a drunken exuberance in those days.
24 Comments
Sure, we've heard all the talk about how the industry has grown faster than satellite TV, cellular and even CD players - but that all seems unreasonable with all the bad news surrounding Sirius XM Radio Inc.
The question I have is whether all the bad news - while very much real - is also being greatly exaggerated.
Enter the Hype Cycle.
It was only a few years ago that Satellite Radio could do no wrong. Both Sirius and XM were signing on talent at a dizzying rate. Debt made no difference. Contract prices? Who cares! This was the future of radio, and subscribers were coming on at a maddening pace.
There was a drunken exuberance in those days.
Subscribe to Orbitcast
Buying a Receiver?
Looking for the best satellite radio? Read our Ultimate Guide to Buying a Satellite Radio for everything you need to know.
Satellite Radio Reviews
Read our receiver reviews on the XM SkyDock, XM onyX, Sirius Stiletto 2, Stratus 6, XMP3 and many more.
-
(or just friend me)