The "Deal" ?

edgarb

Member
Oct 19, 2008
65
2
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I am glad to see this happen...hope they don't get rid of too many channels, but I'm sure some will go eventually. I would imagine we'd see the end of Martha and Oprah soon...hope to see the sports stay.

I always figured they contracted with those two just so hubby could promote it to wife to get the purchase...
 

Jleimer

Active Member
Oct 30, 2008
1,226
13
38
Sparks,NV
I hope they also get rid of Cosmo Radio , and some of the people on Sirius Left e.g. Lynn Samuels and Alex Bennett.
 

hexagram

Medicinal & Recreational.
Oct 11, 2008
2,760
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Seattle, WA
I don't think I've EVER seen this much love for Mel on this forum!

How about a big group hug for old Mel? ? ? ? ? ?

BigHug1.jpg


OK everybody, don't be shy. Get in here now.
DAB! I see you back there! Come on!

You crack me up, Hectic :roflmao:
 

TheScionicMan

Last non-Hating Stern Fan
Oct 11, 2008
2,171
93
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Good. Now Mel can get back to personally programming all the music channels to mediocre quality. From what I read, people seem to think he spends a lot of time picking songs and channels, etc... :clueless:
 

IdRatherBeSkiing

Sherbet is NOT and NEVER WILL BE ice cream.
Oct 11, 2008
24,015
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Toronto, ON
I homed in on two points in the article. First Liberty Media will get 12.5 million shares of preferred stock whic can be converted into 40% of common stock. Additionally Liberty will have 40% representation on the SIRIUS XM Board of Directors. This paves the way to down size the number of like stations and allow high end contracts to expire. A downsizing example is three rock music stations instead of four. Reducing costs and maintaining at least 17 million subscribers are keys to reaching the green in the next five years.

I thought they got 2 seats and 40% of the common shares (via the prefered shares).
 

Supafly

Member
Oct 12, 2008
179
7
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I'm glad SiriusXM got the bridge loan and has some fresh faces on the board of directors.

However, financially things have gotten much worse. They took a "bridge loan" (note GM here) at a robber baron rate of 15%. That's just a loan to pay off a loan, not invest directly in the buisness. The next loan payment comes in May, which much like GM now, Sirius will probably need another bridge loan.

They had to give away 12.5 million preferred shares convertible to 40% of the common stock, further diluting it. I believe they also have the stock split coming up.

Of course the worst part is unless the new influence on the board can work to change the executives and direction of the company they've got the bums that run SiriusXM into the ground still in charge of the show.

But this is all a sideshow really. No one will be focused on sat radio by the end of 2009. The economy will make sure of that.
 

blyons200

These pretzels are making me thirsty.
Oct 12, 2008
8,449
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The BBQ Capital
If they keep the live sports (NCAA football and NFL) I will stay, if they don't I will be gone. They need to slash and burn some things though. How about Backseat TV, how much cash are they burning through on that? Dump that quick. Dump Oprah, Martha Stewart,Jamie Fox, all traffic and weather channels (they are worthless anyway), the televison news feeds, single artist channels, the foriegn language channels (really,how many subscribers have they gained from the Mandarin Chinese channel?), dump Cosmo and Maxim.

Keep live sports, that is a huge draw, add some more talk, funny talk, not political talk. Bring back the Radio Chick! And how about some tech talk. Bring on Leo Leporte to do a 5 day a week show! Mainstream radio teck talk is only good for weekends, but I think a lot more geeks have satrad and would love having Leo live 5 days a week!
 

syphix

Member
Oct 15, 2008
366
10
18
Honestly, as cheesy as they are (and they know it), I'd love a daily radio show like Attack of The Show on G4. Kevin and Olivia would work good together on radio imho.
Man, now you're making me long for the old days when C|Net Radio was on XM!! Arrgghhh!!