I figured this out about 1.5 years ago with just about 99.99999999% certainty. I don't post much any more mostly keep all my research/thoughts to myself. But since your on topic you are 100% correct.
Liberty Media Corporation Q4 2009 Earnings Call Transcript
On World Space we're – it's an evolving relationship. We are currently a lender to World Space, to the debt in possession (inaudible) because we purchased a loan as a percentage of debt financing to that. We had discussions about a broader relationship that are not yet resolved. Our interest in that – and frankly, it's somewhat of a venture capital-type play. It could take several forms. We obviously like satellite radio. We think it's a great property. Could there be opportunities for satellite radio outside the United States? We're certainly looking at that. In addition, World Space has L-Band spectrum in virtually every place in the world, except the US, Japan, and South Korea. And it's got a couple of satellites in the air that might be of value. Our views, our plans are evolving.
John C. Malone
But if you look at it opportunistically, some years ago, we started a fairly substantial program of investing in distressed debt in the TMT space.
Insert Liberty Ventures last August (LINTA), Liberty Interactive held all of the Worldspace Debt which secured Liberty's rights to the Worldspace underlying assets. LINTA also has most the international relationships in Liberty (besides the spun of Liberty Global).
There is PLENTY of information out there that pretty much confirms this is a matter of WHEN not IF, it has been spreed out over the past several years you just need to piece it all together.
Also I believe what he's referring to is Worldspace's technology that allows for more effective use of spectrum which was properly partnered/shared with Sirius 2.0 which allowed for a significant amount of extra channels with the same amount of bandwidth. Internationally I believe that same spectrum has been recently approved from harmonization in the EU for LTE. Combine that with certain mobile rights and things get very interesting.
Of course this is all in my humble opinion always do your own DD. Good luck.
