Karmazin "Scrambling" As Satellite Mogul Seeks Sirius XM Takeover

[hydee]

I wasn't sure where to post this but it's an interesting thing to keep an eye on. Also if it has been posted before I am sorry.

http://www.huffingtonpost.com/2009/02/06/charlie-ergen-echostar-se_n_164664.html

Sirius XM Radio Inc. Chief Executive Mel Karmazin is scrambling to raise about $175 million by Feb. 17 to fend off the company's bankruptcy and a possible takeover threat from EchoStar Corp.


Sirius has been in talks for several weeks with EchoStar, which holds around $400 million of the satellite-radio company's debt, people familiar with the matter said.


EchoStar Chairman and Chief Executive Charles Ergen, who is believed to be seeking control of Sirius, has been accumulating Sirius debt since late summer, the people said. EchoStar holds most of the $175 million in Sirius debt expiring in February and owns more than half of a $400 million tranche coming due in December. Both stakes were purchased from hedge funds. Sirius's total debt load is $3.25 billion. Sirius didn't respond to a request for comment.

[Knowledged_one]

yeah i saw something about this on dcrtv yesterday and wasnt sure where to post it. If it saves satelite radio it will be a good thing

[lleeder]

What Ecostar channel is the show gonna be on?

[Chip196]

Echostar Runner sucks

[Don Stugots]

Ron and Fez on EchoStar Big Ass 102, noon to 3.

[Death Metal Moe]

Does anyone know if Echostar will be a better owner/operator than Sirius was of the XM properties? Anyone have any info on these guys if it happens to happen?

[Knowledged_one]

Does anyone know if Echostar will be a better owner/operator than Sirius was of the XM properties? Anyone have any info on these guys if it happens to happen?

the guy runs dish network if what i remember correctly from what i read yesterday, the fact that he wants to buy it and take it over (sirus/xm) should be a good thing in any regards as many at the start of the year called satelite radio a dying business

[MisterSmith]

the guy runs dish network if what i remember correctly from what i read yesterday, the fact that he wants to buy it and take it over (sirus/xm) should be a good thing in any regards as many at the start of the year called satelite radio a dying business

The problem is we don't know if Echostar is making a play for SiriusXM in order to salvage satellite radio and branch out it's business, or if it intends to scrap satellite radio and use the satellites, repeaters, and infrastructure to bolster their existing offerings or move into broadband internet (which they wanted to do before).

It could be a good thing or it could be a death knell.

[KnoxHarrington]

The problem is we don't know if Echostar is making a play for SiriusXM in order to salvage satellite radio and branch out it's business, or if it intends to scrap satellite radio and use the satellites, repeaters, and infrastructure to bolster their existing offerings or move into broadband internet (which they wanted to do before).

It could be a good thing or it could be a death knell.

Exactly. They could simply be buying XM/Sirus to get that bandwidth.

Edit: Reading a bit more on this, buying the service for the satellites and/or bandwidth doesn't make sense. The satellites are not capable of broadcasting in the spectrum needed for TV, and the FCC would probably complain about TV content being sent in that bandwidth anyway, because it's set aside for satellite radio. And, in any case, just buying and launching 3 satellites on your own is way cheaper. There's a good thread about it on xmfan.com.

[OGC]

Echostar couldn't do any worse than Mel has since the merger. I was perfectly happy with XM up until Mel got his hands into the mix. Now I am very close to canceling the service altogether.

[torker]

This is Charlie.
http://1.bp.blogspot.com/_ATWDuCBFbCM/SA9goVwmyXI/AAAAAAAAAOw/ABm6e0vXK8k/s200/charles%2Bergen.jpg

[Melk]

Isn't Echostar the company that owns SlingMedia and Direct TV? I don't know if they would be a good fit from a hardware support stand point. But they might be good in terms of programming.

[OGC]

Isn't Echostar the company that owns SlingMedia and Direct TV? I don't know if they would be a good fit from a hardware support stand point. But they might be good in terms of programming.

Echostar owns dishnetwork not DirectTV.

[Melk]

Either way, same concern.

[NewYorkDragons80]

THAT'S why my Sirius-XM stock has finally broken even.

[STC-Dub]

At least someone has enough faith in the Satellite radio to put some money into it. The guy knows how to run a similar company which is also good. I see no down side here and feel a little safer extending my subscription for another year now to avoid the price increase.

[Liverspot]

Maybe hoohoo can slide Mel a loan.....:smoke:

[weekapaugjz]

i wonder what board room jimmy's take on this news is.

[Hottub]

Could this be the end of satellite radio as we know it?

[STC-Dub]

We will find out in only 11 days.

[realmenhatelife]

I really hope they buy out the platform and get rid of Mel. Who would've thought satellite radio subscribers wouldn't be happy with more commercials and more radio hits. Hit that post DJ, I dont actually like hearing things that dont have words in them.

[skyscraper]

Maybe hoohoo can slide Mel a loan.....:smoke:

Hoohoo, Robin, I invented stimulus packages. I had Jenna Jamison stimulate my package!
Tell 'em Fred!

[Fred from Brooklyn]

Echostar/Sirius/XM This company is starting to look like a website link.

[Fred from Brooklyn]

After further review, I hope Echostar does foreclose on Sirius/XM. Mel Must go.
This is why they are selling commercials and Live spots like animals. They have no desire to make Satellite Radio better for the listner or share holders. Mel has filled the joint with all his own cronies to create Infinity/Sirius/XM.
The original idea of minimal commercials and censor free talk was designed and based on SUBSCRIBERS not sponsors. If subscribers got what was promised this Media would thrive.

Due to the outrageous contracts given to No-Talents with unproven radio chops and only name recognition, the REAL talents that we all subscribe for are forced incorporate plugs, spots and live reads into their shows like corporate whores.

Viva La Echostar!!! Satellite radio is for the subscriber, it is not Mel's personal jigsaw puzzle.

[BronxJohnny]

by how many folks actually thought Mel Karmazin was going to save the industry. I'm a firm believer in that you can't teach an old dog new tricks. He is a terristrial suit, he was going to do what they do and thats sell sell sell those sponsors, with no regard for the new technology at his feet or the paying subscriber. I hope Echostar does takeover the company, judging from their other assests they def know how to provide talent infused entertainment. I can't see them finishing off satellite radio, not when you have OA & J and Ron and Fez as one of the many talents and why in bloody hell would you get rid of your NFL, NASCAR and MLB subs. business sense would dictate thats not going to make much bank to do that.

[Melk]

He is a terristrial suit, he was going to do what they do and thats sell sell sell those sponsors, with no regard for the new technology at his feet or the paying subscriber. I hope Echostar does takeover the company, judging from their other assests they def know how to provide talent infused entertainment. I can't see them finishing off satellite radio, not when you have OA & J and Ron and Fez as one of the many talents and why in bloody hell would you get rid of your NFL, NASCAR and MLB subs. business sense would dictate thats not going to make much bank to do that.

I think that both companies were stupid not to create products that could be syndicated outward from the platform. XM, at one point, was talking about making the units that could function as TV set-top boxes and supply video. This could have made The Virus channel or Oprah's Channel legitimately multimedia. They never thought about making channels that would be sought after beyond the platform.

Dish Network, on the other hand, has very few if not no original channels. They syndicate channel packages from other sources. By obtaining XM/Sirius, they would finally own their own original channels. This is where my concern begins. I could see the people at Echostar picking up XM/Sirius and thinking, "We own no programming on our satellite properties, why do we need The Virus? Channels like Oprah's would be protected because Oprah owns her own studios. The Virus is an internal property of XM/Sirius.

From a business stand point, I think it would be good for the companies involved... as a listener and fan, I would be very worried.

[The Jays]

The only thing that can save satellite radio is if they can expand the service on what they offer for automobiles, such as internet or even TV service. I think they put too much money in paying celebrities for their names just to make up for lack of good programming. They oughta focus on putting out good product. If I can find awesomely programmed channels on Shoutcast being run by people who get less than peanuts, then satellite is going to fail.

[STC-Dub]

It looks like Charlie made a play for SiriusXM before: http://www.fmqb.com/Article.asp?id=1154190

[Bob Impact]

I thought Echostar owned the "global" satellite market. I could be totally wrong there but I swear I remember something like that from when I sold that crap.

[rexdart]

Could this be the end of satellite radio as we know it?

XM died when the merger talks began. Makes me very sad to see it turned into just another pussywhipped radio station filled with incompetents and lawyers all terrified of taking a chance. Keep the money flowing, who cares if there's any integrity or love left in the product.

When the revolution comes, they die first for their crimes.

[Zorro]

Sirius stock closed just above 5 cents...

[SatCam]

Sirius stock closed just above 5 cents...

Buy buy buy! I see sirius/xm back at 12 cents by the end of the month! big money!

[NewYorkDragons80]

Staples jinxes it in 2007 (http://ronfez.net/forums/showthread.php?p=1185123#post1185123)

all I know and no disrespect to anyone, but it would be a big mistake if Mel Karmazin wasn't in control.

Then goes for the ole' double jinx in 2008 (http://ronfez.net/forums/showthread.php?p=1691520#post1691520)

So, if you believe the pundits, get your Siri now, its dropped to about $2.45 with tons of volume.

[K.C.]

Staples jinxes it in 2007 (http://ronfez.net/forums/showthread.php?p=1185123#post1185123)



Then goes for the ole' double jinx in 2008 (http://ronfez.net/forums/showthread.php?p=1691520#post1691520)

Somewhere, in a Queens basement, he's furiously popping pills and staring at thousands of worthless share papers with a sheer look of horror.