Breathe easy, Howard Stern fans. Based on a flurry of reports this morning, it appears that Sirius XM has dodged yet another bullet—and no, it didn’t have to sell its soul to EchoStar to do so. In short: Satellite radio lives to fight another day.
In return for its investment, Liberty is getting 12.5 million shares of preferred stock, which can be converted into 40 percent of Sirius’s common shares, as well as two seats on the company’s board of directors.Other details of the deal include loans from Liberty to Sirius at an interest rate of 15 percent, due in 2012.
Congratulations to Sirius stockholders.
From the SternSphere
Artie never had a movie career, you’ve been conditioned to BELIEVE he had one. Having a resume that says you’ve had random parts doesn’t constitute having a career, and it barely says he’s “in show business”. It says he had a jobs. That’s it.
I would like to say I had a good time reading this book, but it was actually very depressing. This guy kept screwing up, getting extra chances, and STILL kept screwing up. This is definitely a cautionary tale that warns the reader that being a tough guy can really damage you. Artie is obviously in dire need of psychiatric help…