This is good news! Although I wonder if Chp. 11 wouldn't have been all that bad. It would have allowed them to renegotiate all their contracts and lower costs significantly. Although with this deal they avoid the mess with Ergan and Echostar. Hopefully this deal will put them on a path to some stability and allow the company to finally set a realistic path to profitability.
Huh? Why "dam you" [sic]? Why would you wish for a company's failure and people becoming unemployed in this economic climate??It's also on Orbitcast. BREAKING: Sirius XM Radio and Liberty Media reach $530 million agreement - Orbitcast Looks like you SatRaders have gotten a reprieve! Dam you!
Not bad thoughts at all, but people do not buy from Bankrupt Companies. Doesn't matter if it is Chapter 11 or 7, the general consumer will not buy a product from a company that is in bankruptcy. Did anyone up their subscriptions to a longer term the past month?
As the Orbitcast article says... Mel has done it again! :bigthumbup:
Liberty gets 40% of the common stock and Sirius XM remains in control of it's company.
All I can say is, I'm glad it was Liberty Media (DirecTV) instead of Echostar (Dish Network) that worked out a deal with SIRIUS XM.
Good work, Mel!