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COACH BAKER MAKES CORRECT CALL ON SIRIUS? PDF Print E-mail

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John Malone to play role of White Knight?
(Picture from Associated Press) At our March 2008 investment meeting there was some sharp debate over the merits of Sirius Satellite Radio and its business prospects.  We cited Sirius' pending merger with XM Satellite and its higher than normal churn rate as concerns.  Mr. Baker added that when Don Imus did not bolt to Sirius after being fired by MSNBC, Imus' lack of confidence in satellite radio did not bode well for the industry.  Since March 2008, Sirius' stock has declined from $2.73/share to 6 cents/per share as of February 12, 2009.  Moreover, Sirius is contemplating filing for bankruptcy as it lacks the cash flow to repay its $3.25 billion of debt.  The following link describes Sirius' current financial straits. http://online.wsj.com/article/SB123440851532776029.html
 

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