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02-05-2009, 05:46 AM
|  | Welcome to SatelliteGuys! | | Proud Staff Member Join Date: Sep 7th, 2003 Location: Central Connecticut
Posts: 38,383
| | | Sirius XM being stalked by Dish?
Sirius XM being stalked by Dish?
by Tom Taylor
EchoStar has "quietly accumulated Sirius XM debt", says the Wall Street Journal.
Object - a takeover? Possibly a squeeze-play to force Mel Karmazin's company into Chapter 11, then swap its debt for equity and grab even more of the cheap debt from other bondholders? The Journal says EchoStar/Dish Network's Charles Ergen could also try to snatch the prize before it gets to Chapter 11, and that "either way, current shareholders would be left with nothing." Why is EchoStar interested?
Read the rest at Radio-Info.com
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02-05-2009, 06:42 AM
|  | SatelliteGuys Regular | | Join Date: Jan 10th, 2006 Location: Philly 'Burbs, PA
Posts: 628
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Interesting read. I hope there aren't too many Sirius shareholders who are Dish Network subs. Charlie will have even more people against him since the people who own Sirius XM stock will lose big time in this scenario!
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02-05-2009, 07:12 AM
| | SatelliteGuys Senior | | Join Date: Dec 21st, 2004 Location: Birmingham, AL
Posts: 765
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It makes sense, to be honest. A big expense for XM Sirius are all the administrative functions. They could eliminate probably 80% of the CSRs along with 99% of the payroll, HR, finance, accounting, etc. staff. The only people they'd have to keep around are the DJs and programming people along with some engineering staff. He could also leverage Echostar and build or at least design their own receivers and speed up the merging of the XM and Sirius platforms.
Charlie has a good base for building a very large and integrated broadcasting and communications company, it's just too bad he runs it like my old boss ran his company that only had 4 employees. Charlie seems like he's just never grown out of the small business mentality of being scrappy. All of the disputes with programmers are the prime evidence of that.
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02-05-2009, 07:40 AM
|  | SatelliteGuys Regular | | Join Date: Jan 27th, 2006 Location: Oceanside, CA
Posts: 99
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I believe that would net him an additional 6 sattelites...Only would need three for radio....
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02-05-2009, 08:03 AM
| | SatelliteGuys Junkie | | Join Date: Jun 30th, 2007 Location: Sacramento, CA
Posts: 2,853
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Originally Posted by ReconPJ  I believe that would net him an additional 6 sattelites...Only would need three for radio.... | I think this may be the key. What can the investors expect with a dying company?
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02-05-2009, 08:05 AM
|  | Pub Member / Supporter | | Pub Member / Supporter Join Date: Jul 21st, 2007 Location: Central Virginia
Posts: 672
| | Quote:
Originally Posted by Weezknight Interesting read. I hope there aren't too many Sirius shareholders who are Dish Network subs. Charlie will have even more people against him since the people who own Sirius XM stock will lose big time in this scenario! | You mean their stock that is tradding for pennies on the dollar wasn't what cost them their money already?
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02-05-2009, 08:05 AM
| | SatelliteGuys Regular | | Join Date: Dec 13th, 2004
Posts: 58
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Dish: "danger Will Robinson!" XM would be a BAD move.
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02-05-2009, 08:06 AM
| | Welcome to SatelliteGuys!
Topic Starter
| | Proud Staff Member Join Date: Sep 7th, 2003 Location: Central Connecticut
Posts: 38,383
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Here is the WSJ article... unfortunately I don't have an account there to read the entire thing. EchoStar Amasses Sirius XM Debt - WSJ.com
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I love what I do and I do what I love. Welcome to SatelliteGuys.US! |
02-05-2009, 08:08 AM
| | SatelliteGuys Regular | | Join Date: Feb 13th, 2008 Location: Evansville,IN
Posts: 62
| | Quote:
Originally Posted by Weezknight Interesting read. I hope there aren't too many Sirius shareholders who are Dish Network subs. Charlie will have even more people against him since the people who own Sirius XM stock will lose big time in this scenario! |
Have you checked the price of sirius/XM Stock lately? A whopping .14 a share. I think the company and FCC already tanked this stock. Don't think Uncle Chuck can do much more damage. BTW I think this is a good thing. I think Dish could actually make backseat TV a real option.
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02-05-2009, 08:10 AM
|  | Pub Member / Supporter | | Pub Member / Supporter Join Date: Jun 12th, 2006 Location: Rainsalot Florida
Posts: 2,045
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for a low low price of 500-800 mil and Sirius XM could be yous too..
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