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Liberty's $530 Million Lifeline Keeps Sirius XM Afloat

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Old 02-17-2009
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Liberty's $530 Million Lifeline Keeps Sirius XM Afloat
Sirius XM got a reprieve from bankruptcy Tuesday by agreeing to an under-the-gun deal with Liberty Media which will ensure at least three years of continued service. But the respite does not come cheaply: The parent company of DirectTV is taking a 40 percent stake in the once high-flying company and providing an immediate cash fusion at payday loan store rates so it can meet a $172 million obligation that is due today.
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