NYT: DirecTV saves Sirius XM from bankruptcy (for now)

[Kimba W Lion]

http://www.nytimes.com/2009/02/17/business/media/17sorkin.html?_r=1

"As part of the transaction, Mr. Malone [DirecTV] is to pay about $265 million
now — which will be used to pay off the $175 million that Sirius XM owes Mr.
Ergen [Dish Network] today — 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."

[YKW (ad hoc)]

Post by Kimba W Lion
http://www.nytimes.com/2009/02/17/business/media/17sorkin.html?_r=1
"As part of the transaction, Mr. Malone [DirecTV] is to pay about $265
million now — which will be used to pay off the $175 million that
Sirius XM owes Mr. Ergen [Dish Network] today — 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."

It's actually Liberty's investment arm, not DirecTV or even the part of
Liberty's superstructure that holds its investment in DirecTV, that's in
operation here. There's no reason to suspect a linkage between D* and SXM
-- absent a direct statement in the affirmative from both -- anymore than
there would be to suspect one between the regional FSNs or the Starz
group (two other prominent Liberty properties) and SXM.
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