Replies to post #26129 on Sirius XM Holdings Inc (SIRI)

[eastunder]

Thank you for finding that, and posting it!

I found several things interesting:

The Malone deal in print because we so easily forget:

"At the heart of the battle appears to be Mr. Karmazin's conviction that Liberty shouldn't get control of Sirius without paying for it. Liberty got its initial 40% stake for virtually nothing—a $12,500 nominal payment included as part of the terms Liberty exacted for rescuing Sirius from financial distress in early 2009 with a package of loans. That stake is now valued at about $5 billion, while the loans were quickly repaid."

And this:

"Whether Mr. Karmazin will have any more success with his Liberty battle is unclear. One lawyer says the outcome was set in the 2009 deal that gave Liberty the 40% block of stock."

Of course it was.

Going back to this...

At the heart of the battle appears to be Mr. Karmazin's conviction that Liberty shouldn't get control of Sirius without paying for it?

I appreciate that.

But - I'm kinda thinking Mel should have thought of that BEFORE he gave Malone 40% of the company for 12,500 dollars?

At this point why would Malone? Out of the goodness of his heart? He's a business man. He's in a good position to just take the company.