With Feb 17th looming in just 7 short hours Sirius (who also owns XM if you have not been following along) gets investment funding in the reported hundreds of millions from Liberty Media (aka DirecTV). February 17th 2009 was the day much of Sirius’s debt came due. It will be interesting to see how this partnership works and if people will really pay more for their satellite in order to get Sirius. My bet is no but it’s an interesting play by Liberty Media (if it were anyone else I would say this was throwing money at beta max). Liberty Media does command a large number of subscribers but conversion in this economic time will be tough unless it’s a throw in. The later I’m sure will not make LM shareholders very happy right now. It’s a medium that has peeled roughly less than 1% away from its older brother traditional radio. With WiMax coming this is a stretch in my mind but we’ll see; this might be the merger of yet again two dinosaurs on their last days.
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