Posted On: 05/09/2016 9:17:24 PM
Post# of 96900
In January 2009 Sirius was one day away from having to file bankruptcy when Liberty Media / John Melone can to the rescue with a $545 million loan ( to be paid back in 6 months @ 12% interest ) for a 38% stake in Sirius.
At that time Sirius had approximate $275 million cash on hand with a note of $245 million that was due in January 2009 and Sirius had 3.5 billion O/S.... Debt and senior notes of appsoximate over $500 million coming due that coming year. Sirius and XM had a combine subscriber base of approximately 16.5 million at the time of there merger approval the summer of 2008 serving only the US and Canadian area with revenue of $12.95 per sub.
I feel we are dealing with 2 different animals comparing Sirius to Ntek.
Ntek will be Global with a protential of a much much larger subscriber base with higher revenue per sub.
Revenues from advertising commercials.
Less cost for content and operating cost ( such as updating and replacing Satellites )
Hope this helps
At that time Sirius had approximate $275 million cash on hand with a note of $245 million that was due in January 2009 and Sirius had 3.5 billion O/S.... Debt and senior notes of appsoximate over $500 million coming due that coming year. Sirius and XM had a combine subscriber base of approximately 16.5 million at the time of there merger approval the summer of 2008 serving only the US and Canadian area with revenue of $12.95 per sub.
I feel we are dealing with 2 different animals comparing Sirius to Ntek.
Ntek will be Global with a protential of a much much larger subscriber base with higher revenue per sub.
Revenues from advertising commercials.
Less cost for content and operating cost ( such as updating and replacing Satellites )
Hope this helps
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