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Posted On: 05/02/2017 3:01:42 PM
Post# of 96892
Yes they were audit filings and listed on the Nasdaq....
They were trading .05 going into January 2009 and was facing having to file bankruptcy due to a $250 Million note backed by Bonds which were secured by the Satellites. Bonds that were being bought up by a competitor of Mel Karmazin the CEO of Sirius.
Charlie Egren Co-founder of DISH Satellite was positioning himself in case of a bankruptcy for a hostile takeover by buying up the Bonds.
With only a few days away having to file bankruptcy January 2009, founder of Liberty Media John Malone rescued Sirius with I believe it was a $545 Million loan for 6 months at a 14% interest and 40% stake of Sirius.
The stock spiked and began to climb on the news.
As for the contracts..... Sirius and XM received their final merger approval from the FCC the summer of 2008....... approximately I believe 17 months after their agreement.
Facts... not speculation
They were trading .05 going into January 2009 and was facing having to file bankruptcy due to a $250 Million note backed by Bonds which were secured by the Satellites. Bonds that were being bought up by a competitor of Mel Karmazin the CEO of Sirius.
Charlie Egren Co-founder of DISH Satellite was positioning himself in case of a bankruptcy for a hostile takeover by buying up the Bonds.
With only a few days away having to file bankruptcy January 2009, founder of Liberty Media John Malone rescued Sirius with I believe it was a $545 Million loan for 6 months at a 14% interest and 40% stake of Sirius.
The stock spiked and began to climb on the news.
As for the contracts..... Sirius and XM received their final merger approval from the FCC the summer of 2008....... approximately I believe 17 months after their agreement.
Facts... not speculation
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