spacetoday.net: space news from around the webin association with SpaceNews


Liberty loan keeps Sirius XM out of bankruptcy
Posted: Wed, Feb 18, 2009, 7:59 AM ET (1259 GMT)
Liberty Media and Sirius XM Radio reached an agreement Tuesday on a $530-million loan designed to keep the satellite radio company out of bankruptcy. Liberty agreed to provide Sirius with an initial $280 million loan that allowed Sirius to pay off a tranche of debt that was due on Tuesday, to be followed by an additional $150 million in loans. Those loans will be converted into a 40% stake of Sirius XM for Liberty, as well seats on Sirius's board. Sirius XM was in danger of filing for Chapter 11 bankruptcy protection had it not secured a deal on Tuesday.
<<previous article   next article>>
news in brief
news links
Friday, April 28
Ottawa announces over $80M in space funding
Canadian Press — 5:51 am ET (0951 GMT)
NASA Agrees With GAO -- First SLS/Orion Mission Will Slip to 2019
SpacePolicyOnline.com — 5:45 am ET (0945 GMT)
Cruz To Congress: America Must Settle Space First
The Daily Caller — 5:44 am ET (0944 GMT)


about spacetoday.net   ·   info@spacetoday.net   ·   mailing list