Featured Articles

Intel takes credit for three-way 4K gaming

Intel takes credit for three-way 4K gaming

All of a sudden Intel is talking about desktop gaming like there is no tomorrow and it is pushing it. The…

More...
Nvidia Shield Tablet 32GB 4G LTE out for pre orders

Nvidia Shield Tablet 32GB 4G LTE out for pre orders

Nvidia has finally revealed the shipping date of its Shield Tablet 32GB in 4G LTE flavour and in case you pre-order…

More...
Apple announces its Apple Watch

Apple announces its Apple Watch

Apple has finally unveiled its eagerly awaited smartwatch and surprisingly it has dropped the "i" from the brand, calling it simply…

More...
Skylake 14nm announced

Skylake 14nm announced

Kirk B. Skaugen, Senior Vice President General Manager, PC Client Group has showcased Skylake, Intel’s second generation 14nm architecture.

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 18 February 2009 06:50

Sirius XM gets loan from DirecTV

Written by David Stellmack

Image

Now has a 40 percent stake in the company

Sirius XM has been saved, so to speak, by a last minute deal that sees DirecTV’s parent company, Liberty Media, becoming a 40 percent stakeholder in the satellite radio company. The $530 million dollar loan was made because Liberty Media did not want to see the company declare bankruptcy or worse yet, be acquired by Charles Ergen of EchoStar fame, according to many analysts.

The loan will see Sirius XM pay off the EchoStar debts that the company has, while at the same time see John Malone and Greg Maffei join Sirius XM’s Board of Directors. This move is significant, as Sirius XM CEO Mel Karmazin has been under pressure to step down as CEO and hand the reins over to someone who could navigate the company through its current financial crisis.

With the 40 percent interest in the company, it is likely that we will see Sirius XM and DirecTV bring some joint packages to the table, or perhaps engage in some co-marketing efforts. While some are complaining about the interest rate, which happens to be 15 percent on the loan, ultimately the company has a large subscriber base; and it is likely that the company should be able to recover and be stronger than ever.
Last modified on Wednesday, 18 February 2009 07:50

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments