The Muse in Music has been following the latest bankruptcy talk of XM Sirius Radio over the past week and now here is the latest news.
Liberty Media Corp. has just announced that it will invest $530 million in XM Sirius radio in order to help salvage what is left of the satellite radio company. Liberty Media’s involvement could make for an interesting power struggle with EchoStar, who appeared to be throwing money at XM Sirius from a dark corner in hopes that when they did fall EchoStar would be there to catch them and take over. You can read the entire article here
At this point XM Sirius radio as an individual entity is unsalvageable. EchoStar or Liberty Media might buy it out right and keep the name but as it stands XM Sirius, as it is known today, will not last much longer. I don’t know much about entrepreneurship but I do know that the purpose of owning a business is to make a profit which neither XM or Sirius have ever done. I call that a hobby.
My one question, that the two smarter tMiM contributors will have to answer, is if XM Sirius is bought by Liberty Media or EchoStar are the terms of the merger null and void?
So go get some popcorn because this is going to be an interesting and LONG ordeal.
“My one question, that the two smarter tMiM contributors will have to answer, is if XM Sirius is bought by Liberty Media or EchoStar are the terms of the merger null and void?”
You mean the FCC’s terms? Surely you jest. It raises an interesting question, though, the meta-terms applied to this meta-merger. I can’t wait.