Sirius XM begins bankrupcty preparations

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Sirius XM begins bankrupcty preparations

02-17-2009, 02:44 PM

#29

Bigdog

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Member since:Aug 2007

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Quote:

Originally Posted by fatediesel

Going bankrupt could possibly get get them out of the contract.

However, Liberty Media has agreed to invest $530 million into the company so it can pay some of it's debts in exchange for 40% of Sirius stock.
http://www.forbes.com/feeds/ap/2009/...ap6059582.html

Not a smart move considering the stock is worth basically nothing, almost to the point of being unlisted from the stock exchange.

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