Sirius XM being stalked by Dish?

**jdmacor** · 02-05-2009 12:05 PM

Originally Posted by FIREBIRD81

Sounds like a hostile takeover. Sirius and Dish shares are up on the news. How could it not be good for shareholders, unless sirius files chapter 11? Charlie can't steal the shares! If he's taking over the company he has to BUY the shares. Buying the debt up actually gives Sirius more time to operate, unless Charlie then demands Siius pay him immediately and forces chapter 11. I would think that would be dangerously close to corporate raiding, tho and he could get into some trouble with the SEC. And seriously....are you telling me he is going to force Howard Stern to give up his stake in the company that was a huge part of is compensation and expect Howard to stay? NO Howard = no sirius. It doesn't make sense that he would do that.. ....

He doesn't have to buy the shares. He can buy the debt, and then wait for the company to file for bankruptcy (soon enough), and then his debt claims, which obviously will not be paid back, will turn into claims on the company. He will receive shares for his debt, to put it simply.

**navychop** · 02-05-2009 12:39 PM

Yep. Or most/all assets are turned over to him. That might be more lucrative than taking over the company.

Remember, buying the debt does not change the due date. Sirius/XM still has massive debt payments due this year- they just now must pay some of it to Charlie.

**HDRoberts** · 02-05-2009 12:40 PM

I believe Sirius XM has 2 launches this year (one ILS and one Sea Launch), and one ILS launch next year. Charlie may want some (or all) of those slots for E14, E15, and Quetzsat-1, plus whatever they're launching to 86.5. That could be worth something to Dish. Granted, not enough to buy the company, but it adds to the business case. They could instantly add all Sirius XM programming to their packages, which would be a big plus. I won't buy satellite radio seperately, but if it could be cheaply bundled into my TV, I might go for it. I like it.

I also wonder if this could have anything to do with the Dish mobile TV initiative?

If course, technology would be incompatible as both use s-band. But perhaps future Dish satellites could include s-band transponders.

**steve4810** · 02-05-2009 12:57 PM

check it:

"EchoStar has acquired a significant portion of Sirius XM's maturing debt and could seize control of the company's attractive assets, according to reports.

EchoStar, which sells set-top boxes and was the former parent of Dish Network has acquired part of a $300 million tranche of Sirius XM debt set to mature on Feb. 17, according to The Wall Street Journal, which cited people with knowledge of the situation. "

Here's a link to the complete article story:

What EchoStar Might See in Sirius XM | Hardware | Financial Articles & Investing News | TheStreet.com

**K9SAT** · 02-05-2009 01:01 PM

This is being discussed here, http://www.satelliteguys.us/satellit...lked-dish.html

**dfergie** · 02-05-2009 01:04 PM

Merged

**Hall** · 02-05-2009 01:06 PM

Originally Posted by Dish VIP

Does this explain why new HD programming is still in "soon" mode?

No. This story is about Echostar, not Dish Network.

**JosephB** · 02-05-2009 01:06 PM

Originally Posted by HDRoberts

I believe Sirius XM has 2 launches this year (one ILS and one Sea Launch), and one ILS launch next year. Charlie may want some (or all) of those slots for E14, E15, and Quetzsat-1, plus whatever they're launching to 86.5. That could be worth something to Dish. Granted, not enough to buy the company, but it adds to the business case. They could instantly add all Sirius XM programming to their packages, which would be a big plus. I won't buy satellite radio seperately, but if it could be cheaply bundled into my TV, I might go for it. I like it.

I also wonder if this could have anything to do with the Dish mobile TV initiative?

If course, technology would be incompatible as both use s-band. But perhaps future Dish satellites could include s-band transponders.

If they already have satellites built and ready to go I don't think they would want to buy the company to use the launch slots for other satellites and then have the SDARS ones sitting on the ground. They could use the existing and future Sirius and XM satellites for mobile tv. Heck, they could use them for regular services by adding a satellite radio antenna on Dish installs for future services. The satellites just retransmit bits, so they don't have to limit them to just audio.