Last updated: February 18, 2009 - 11:24am
Source:
Reuters
Author:
Yinka Adegoke
Liberty Media will invest $530 million in Sirius XM -- first as a $280 million loan (at 15% interest, due in 2012) to help Sirius XM pay off its notes due Feb. 17 (with the balance for working capital and other costs) and then as $171.6 million to the satellite radio company with and an offer to buy up $100 million in XM Sirius loans. Liberty sees potential co-marketing and mobile video partnerships with Sirius XM, but its $530 million investment is pitched more for financial than strategic reasons.