XM Offers Big Rate Hike To Note Holders Not To Redeem
XM Satellite Radio (XMSR) said it cut a deal with 94.6% of the holders of its $400 million of 1.75% senior convertible notes, and will offer to exchange them for a new series of notes with a 10% interest rate but otherwise comparable terms. In return for the dramatic hike in the coupon, the noteholders have agreed not to assert any claim that the proposed merger of XM with Sirius Satellite Radio (SIRI) triggers a change of control provision that could allow the noteholders to demand XM buy back the notes at par.
The offer is conditioned on the closing of the merger, which awaits final approval from the FCC.
XMSR today is up 18 cents, or 2.4%, to $7.56.
hi my name is XM-enron
Mr FCC, Please do not delay XM/SIRI Merger……Hurry Up…….Think,Think….Good for Consumers…Good for car Companys….Good for U.S.Economy…..Save our U.S.Economy…….After XM/SIRI Merger, They (XM+SIRI) must expand ,make good deals,work ,connect together with GOOGLE, MSFT, iPod, iPhone, YHOO, MP3, Disney, GE, BIDU, CBS, AOL, and etc….Belive It Or Not….Time will Tell You….Main Taine….New SIRI Target Price $18 within 2 months…. Do Not Miss The Boat……. God Bless AMERICA……..
Marco I like your comment. SIRI Target Price $18 will help me to pay off my charge card balances. I have held onto Sirius stock for some four years and again hope your forcast comes true. The big if is the FCC decision.
My God Marco, I sure do hoope you are right. Sure would put me in a better financial position but I am afraid your opinion is in the minority
Ialso have held onto siri shares knowing they would go up eventually went thru the good and the bad times right about the big IF
I like the optimisim; I like you all have held for some years. (bght. @ 7.00) I really see the sky as the limit; I am so spoiled on sat radio, I could not imagine living without it..
Hey FCC do your job! How about being there is so much interest in the Sat spectrum (at least when minorities expect it for free) that you do this. How is this for an Solution. Take the adjacent spectrum that was not auctioned off originally (you know the other 25 MHz) and sell some of it to the interested parties. They could buy one of the XM sats that have been floating around up there, and have a Minority/free service. And also change the FM frequencies slightly by assigning the freq 88.1 for personal fm transmitters, to prevent interference and to help improve the customer experience.
So you can make money for our economy, to help offset your unproductive pay for the last 15 months. This would solve all the problems just by selling the spectrum to all the parties interested in my companies’ assets.
Signed;
Disappointed American
To FCC;
You all should be embarrassed, and fired! You have lied and stalled enough. 180 day clock =a scam, by the end of the year=a Lie, by the end of the first quarter=another Lie, Shortly after the DOJ decision=another lie, Martin says he was having multiple drafts written months ago=lie. Now shortly and pretty shortly; but no drafts circulated in over a year and a half! What have they done in all that time????? DOJ has proven this is not a monopoly! Allow the licenses to be combined and stop pandering to every group out there! They have no right trying to get my Company for free, I paid for shares of my company and you have no right to give anybody anything that I own. If the minorities want more radio exposure let them go buy a radio station with their own money. This is a free country, not a socialist state. So allow the combo with no concessions other than what the companies agreed to begin with. I hope you are all investigated for this disgrace, you are going far beyond what the FCC was intended for and now you are using this unassigned power to destroy American confidence in our government, and any company you choose to destroy. Your stalling of this decision has cost me personally and many more I am sure, I hope the companies file suit for your stall tactics, the empire state building was built in less time. And both companies have now lost the Millions/ Billions due to your indecision. You have no right to cost companies so much. This is America, free market capitalism, remember? This is not a necessity it is a pay luxury service. Mr. Martin do you have a Boss that oversees you, or are you a free-bird with no one to answer to? I would like to speak to your boss because no common sense decision can take over a year to make. I don’t know of any company, employee, or anybody that can take so long to do a job and still have a job after showing this amount of incompetence. I want you and you group all fired. Here is a link to a video that shows how irrelevant you group is; http://www.youtube.com/watch?v=lg5zodsZdds&feature=related
So in ending you appear to be protecting your buddies at the NAB, and pandering to any special interest group wanting something for free. How about the Americans you supposed to be protecting? By the length of time you have been taking means one thing to this American and that is you are saying FU to ME. And I want you Fired. I will be sending this to anyone that will read it, the sad thing about that is that unless it is accompanied with a check, I assume no government official will read it.
Signed; One disappointed American.
FCC- Make a DECISION- one way or the other. You have had more than enough time to analyze the effects of the merger. While you delay, these companies can not make the important financial & operational decisions needed to improve their financial positions. FCC- YES or NO doesnt matter, making a decision does!
FCC please hurry up and allow these companies SIRI + XMSR to join so that I can buy any channel I want for 25 cents as well as be able to listen to my BELOVED CHICAGO CUBS. I would dearly LOVE TO HEAR them on my sat radio next baseball season.
I’ve lost confidence in the Government all together. GET RID OF THE FCC!
The merger is going to be approved soon
Buy this stock monday morning
its very bullish
it will be approved in coming week
the stock is going to skyrocket
Buy SIRI(Sirius) Stock Monday Morning
The news is near. Stock will skyrocket in coming weeks
Special interest is @the heart of the delay.
FCC 4 sale!
Free us, I want my ‘new’ low cost SIRI channels
I thought the FCC is taxpayer funded. The taxpayers have spoken - “Approve this Merger”
If they nix this deal the FCC only proves they work for the NAB amd not the taxpayer.
i don’t understand the downgrade and why after over a year these fools cant get this over and done with i want my investment to actually show some green…im tired of averaging down…we actually listen to it and own the stock HELP FCC you idiots
I don’t see a single post AGAINST the merger.
Hello? FCC? Your role is not to regulate business. Your role is to regulate the allocation of frequencies.
dems,reps,indeps,it doesn’t matter,they all have their hands out.The FCC is guilty of blackmail. This proves it’s business as usual in America. It’s time for real change. Rise up PEASANTS!
The merger will be approved next week unless the FCC takes a one week vacation and the stock will go up like a rocket. If the economy rebounds, the target price will be $20.
The FCC is a group of no conformance, no morals, no give a sh*t about the brother man, no give a sh*t about KARMA…hope ya get my drift.I will get mine simply because I respect myself and OTHERS.When you get your big fat merger checks I wish I had the ability to see how you blow it,financialy, moraly and most of all… all the great respect you get from the world itself.You have put a new meaning on the word RESPECT!May I OFFER MY best wishes you bunch of DEUTSCH BAGS!!!!
I agree with all of the above! Especially: Rise Up Peasants!!!! It is time to take the country back! We need another Tea Party. Vote Obama for CHANGE!!!!!
Yea vote for that empty suit Obama & really watch your net worth go in the toilet, you idiot.
“DEUTSCH BAGS?” You mean “Douche Bag”, douche bag!
Obama will block the SIRI-XM Merger. Vote for the other guy…you know the one with more experience?
Obama is exactly not what this country needs : an elitest who will devastate this country both here & abroad. The guy has no experience & is a lightweight.
Let’s face it, Obama is a slam dunk - and we can use an elitest - I am getting tired of stupid people, put into a position of power simple because they belong to the GOP (Gas & Oil Party). Sometimes dumb people have just got to suck it up and admit someone else can be smarter.. besides that - I do not want the merger, I’d like to loose all my money on averaging down till they go bankrupt. I also want the FCC to bar radios from having both AM and FM bands. I then want half the car makers to have AM and the other half to have FM.
FCC is an example of the politics in our Government. Special interest groups, etc. and future FCC appointments all have an affect on this decision. Let’s please put politics aside for a change and get this merger approved now. It is what the people want. If you put the politics aside FCC, you know it is the right thing to do. Start concentrating on more important issues. Are you trying to put one or both companies out of business? There are enough economic and business problems in the United States today. Do not make another one. Approve the merger!
Does anyone have an idea what the stocks are going to be worth once the merger goes through? I own XM and am invested for a sick amount. Sure could use the extra money. Thank you!
Hey, amigo Whatever, what’s up? If Obama is a lightweight, how can he devastate the most powerful country in the world? Do not you think? Is it your feelings that control your financial decisions? And what makes you believe that he would oppose the merger? We have concurred that the merger is now a logical decision. What makes you think that Mr. O would be illogical concerning this crucial decision in the history of a potential American business behemoth?
Are you ok, amigo?
Drop me a line. You’re OK!!!!
The only people I see that want the merger are Sirius subs. I am an XM sub and don’t want the merger. Why should they be allowed to combine so that there is only one company to fall on it’s face, or get gov’t funding?
With the F.C.C. delaying action on the Sirius/Xm merger, Sirius CEO Mel shows his pearly whites with a big smile. After all, with all the free publicity, isn’t each passing day without an F.C.C decision just another day of money saved in the form of free advertising?
Also, with all the stock market analyst’s flip - flopping opinions and with XM/Sirius still reporting an increasing subscriber base, aren’t the analysts really F.O.S?
If they were so smart they’d be billionaire beach bums with a babe on each arm soaking up sun in the Bahamas. Give me a break; those dorks (other than Cramer), have no better of a clue than the rest of us….
Scot’s Slant
Glad to see such optimism on stock price, but with 3 billion shares out after issuing XM shareholders Sirius shares 4.6 Sirius for each XM share, the stock is not likely to get more than $5 in the next year. But I’d be thrilled wth this price by end of the year or earlier (next week on approval would be nice)
Things tolly change now….Not like Yesterday….XM+SIRI expand ,can listern the music in the iPhone,iPod now….XM/SIRI will expand,make good deals,work,connect together with GOOGLE, MSFT,YHOO,GE,Disney,CBS,BIDU,AOL and etc very pretty soon……Goldman Sachs Analyst Mark Wienkes,You must change XM+SIRI rating from sell to VERY VERY STRONG STRONG BUY on MONDAY ……Change the new SIRI Target Price too……..The New SIRI Target Price is $18 within 2 Months……I think this Time,You will not be drunk too………Long life save our U.S Economy!!!!!! God Bless AMERICA !!!!!!!!
That’s Theory. Happy Ending in U.S.A.!!!!!!!Goldman Sachs analyst Mark Wienkes,This Time Don’t drink….Think Think correctly The New SIRI Target Price $18 within 2 months……Other analysts have to raise The New SIRI Target Price and Strong Strong Buy Buy Rating on MONDAY……….God Bless AMERICA!!!!!!!!!!!!!!
FCC: Please let’s get this merger done. It is in the best interest of all stakeholders and consumers. Please!
We all jumped in to MSFT thoughts of 1980, thinking SIRI $100 in a year or two…well we were wrong.
NOW we are getting every thing our way.
Let enjoy the ride……
Some people will sell the moment SIRI gets to $4.00.
Well good luck to them too.
I am a true SIRI SUB & FAN & INVESTOR.
Here’s where we are going:
12-31-2008 SIRI $4.5
12-31-2009 SIRI $6.00
12-31-2010 SIRI $8.00
Jump where ever you want, just remember Mr. investor, ALL OTHER STOCKS ARE GONE DOWN.
PEACE………….
Call commissioner Tate: (202)418-2500 and let her know how you feel. During the week 9:00 to 5:00 you will get Tates asst. she is running a spead sheet of what state you are from and your position on the merger.
I am a sirius shareholder and I love satelite radio (subscribed to XM).
MEMO TO FCC:
Let these companies GOOO! APPROVE THE MERGER ALREADY.
If your vote is for the the well being of people, economy, and corporate competition, I don’t see why allowing them to merge can be detrimental in any way.
Oh… and for once… try to be on time this time (by the end of June)
IN THE U S MARINES=[THEIR IS AN OLD SAYING-ONCE A MARINE-ALWAYS A MARINE]**I suggest that MEL fire all of his attoneys and hire**5 RETIRED BASIC TRAINING SARGENTS**and turn them loose at the FCC.The MERGER would pass without ANY CONCESSIONS in less than a day.–COPPS AND ADELSTEIN AND MAYBE TATE would be saying YES SIR-NO SIR and we are so sorry that it has taken us 17 months to deside a simple MERGER and we will act IMMEDIATLY.-We promise not to mention the word NAB or CROOKED POLITICANS anymore.Before the day is over COPPS AND ADELSTEIN will look like dishwashers in the local restaurant=[Sorry dishwashers,-I dident mean to insult yoy]==LEADERSHIP IS THE KEY WORD -BELIEVE ME,-FIRST SARGENTS HAVE IT.=THE FCC DOSENT HAVE IT.
TO DISAPPOINTED AMERICAN**6/27/3:23 pm**Thank you thank you thank you for the best post of the year.It is time for everyone to take off the gloves and fight like hell,-Fight fire with fire.This is the only thing these SCREWBALLS at the FCC can understand.-YOUR LETTER WAS PERFECT.=Just wish more people would write like this.=I believe the NAB will deside this merger since the FCC are to big of a COWARD to make a decision=WE NEED LEADORSHIP INSTEAD OF CENSORSHIP.
I,too, am a holder of SIRI. I have read soooo much FOR the merger with XM, and am yet to read anything against it. Surely the FCC is aware of the common will. Do you suppose that they (the FCC) have forgotten that they work FOR US (WE, the people)? There must be a political reason for their stalling. Personally, I think that is the broadcast lobby, fearful of losing their market share. Maybe the FCC should look to the past and the similar struggle to implement cable TV. The local broadcasters didn’t go under - instead they became empowered to serve a larger market!
merger is about to be approved.
JIM, I Like your your plain. Anyone who has been in the Marine Corp knows, Drill Insructers would make anyone do their job as fast as is possible, and even a little faster, “10, 9, 7, 5, 3, 1, get in the pit”, LOL. I can laugh about it now, Semper FI, Devil Dog.
Close down the FCC. What a waste of our Tax Dollars. Let the DOJ manage the Spectrum.
The DOJ should investigate the FCC and all the congressmen who are on the NAB payroll.
I am not a subscriber to XM or SIRIUS but have been waiting for a merger to happen so I can get value for my $ and get my football and baseball in one place.
In this terrible economic invironment we are in, you would think the FCC would be trying to help companies stay in business not go bankrupt!!!
Shame on the FCC !, shame on CONGRESS ! and shame on us, THE PEOPLE, for letting them get away with it !!!!!!!!!
the fcc is a disgrace no reason to not approve merger
I have been a shareholder since the company was called CD Radio. Please allow this merger to go thru. How is it possible to approve the Exxon/Mobil deal in less time than it takes the FCC to even rule on whether or not these two small cap companies can unite???
FCC Chairman says merger decision in first quarter
Tuesday, January 15, 2008
FCC Chairman Kevin Martin said recently that the Commission expects to complete its review of the merger between Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. by March.
“If I had to guess, I would guess the commission will be trying to address it in the first quarter of this year,” said Martin.
Back in September, the FCC Chairman had said that he was targeting for the Sirius-XM merger review process to conclude in the fourth quarter of last year.
Martin also conceded that the unofficial 180-day shot clock for considering the merger had concluded in December. In fact, Martin said the FCC has not yet completed its analysis and that as recently as a few days ago the Commission was meeting with Sirius and XM over follow-up questions about some of its data.
Kevin Martin also said that it was customary for the FCC to wait for the DOJ before weighing in on a merger and didn’t know when the Justice Department would be coming out with its decision. He added that the FCC would not necessarily hold off once the DOJ has completed its review
our govt. is corrupt. even stevie wonder could see the merger is a no brainer. i feel like a beaten dog. im moving to france with johnny depp and his hot wife. i hope i get a signal there.
it aint gonna happen kids. sell now and go wish somewhere else
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
