Liberty Media to get Sirius stake (Dealscape

Liberty Media Corp. has agreed to lend $530 million to Sirius XM Radio Inc. in exchange for an equity stake and two board seats to help the satellite radio company stave off bankruptcy or a takeover by EchoStar Corp.

In the multiphase deal announced Tuesday, Englewood, Colo.-based Liberty Media will lend New York's Sirius $280 million -- $250 million of which will be funded immediately. Sirius will use the proceeds to repay $171.6 million in bonds owned mostly by EchoStar due Tuesday. The balance of the loan will go toward general corporate purposes, the companies said in a statement.

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NOT A SUBSCRIBER? Liberty Media to get Sirius stake Posted on February 17, 2009 12:23 PM Liberty Media Corp. has agreed to lend $530 million to Sirius XM Radio Inc. in exchange for an equity stake and two board seats to help the satellite radio company stave off bankruptcy or a takeover by EchoStar Corp. In the multiphase deal announced Tuesday, Englewood, Colo.-based Liberty Media will lend New York's Sirius $280 million -- $250 million of which will be funded immediately. Sirius will use the proceeds to repay $171.6 million in bonds owned mostly by EchoStar due Tuesday. The balance of the loan will go toward general corporate purposes, the companies said in a statement. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 895 articles related to Liberty Media Corp. 104 company pages related to Radio 30 in-depth reports of Private Equity deals in the Media sector 22 articles related to Sirius XM Radio Inc. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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