Posted: Wed, Feb 18, 2009, 6:59 AM ET (1159 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.

Related Links:

•  Washington Post article
•  Wall Street Journal article (subscription required)
•  Reuters article
•  Business Week article
•  Liberty Media press release