Liberty Media threw Sirius XM a lifeline with an 11th hour $530 million loan. If Sirius’s beleaguered balance sheet didn’t tell you everything you’d need to know about how the negotiations went, the terms would. The initial loan of $280 million comes at a steep 15% interest rate, and Liberty will get 40% of the satellite radio company in the end. Liberty Media will also get two board seats… → Read More
It’s tempting to blame the downturn for all the bad news hitting tech in 2009, but downturns have a healthy impact too. They burn away the brush of businesses that looked good enough on paper to keep raising money, but never quite worked in reality. Consider two stories in the news today: The possible bankruptcy of Sirius XM Radio in the next 24 hours and the looming ouster of its chief… → Read More
Possibly their worst photo ever, and one that’s several years old Mel Karmazin, the CEO of Sirius XM Radio, was just on the Opie and Anthony show</a to discuss a few post-merger items. For the most part, it looks as if Opie and Anthony are safe, and that Karmazin wants them to be a part of the new company (i.e., renew their contract). At the same time, Karmazin once again expressed his… → Read More
A follow-up to yesterday’s “What of O&A?” post, Sirius XM Radio CEO Mel Karmazin is slated to appear on the show during the 9am hour today. Opie and Anthony fans know that Karmazin has always been a “Howard Stern guy,” so this should make for good radio. Karmazin is similarly scheduled to be on Howard Stern, if you’re so inclined to seek out that audio. And to the paranoid… → Read More
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