# Charlie Offered $700 Million for Sirius/XM



## MLBurks (Dec 16, 2005)

Charlie offered $700 million to Sirius/XM in exchange for 51% control of the company. That's $170 million more than what Malone offered.

Click here for story


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## MLBurks (Dec 16, 2005)

Charlie may not be done yet.
From article I linked above:

_Liberty has one condition to provide the remaining $250 million later this year: the holders of the $350 million due in May must agree to extend the terms.

One way Charlie Ergen could try to scuttle the Liberty deal would be to acquire some of that $350 million in bank debt outstanding and then refuse to extend the maturity.

Liberty might then back out of its deal. In that case, Karmazin would likely have difficulty repaying Ergen for the December notes he holds. And he could, again, use that debt as leverage to make another attempt to seize control of the company. _


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## Dolly (Jan 30, 2007)

MLBurks said:


> Charlie may not be done yet.
> From article I linked above:
> 
> _Liberty has one condition to provide the remaining $250 million later this year: the holders of the $350 million due in May must agree to extend the terms.
> ...


I'm sure Liberty knows that and has their eyes on Charlie. And whatever people may think of Mel (and believe me he hasn't always been a favorite person of mine) I think it showed how much he cares for Sirius XM--he didn't want to sell his company. Me on the other hand I would have taken that money in a New York Minute 

EDIT: I read the story for your link since it was written in Obitcast I don't put a lot of faith in it anyway. Obitcast always did want Charlie to get Sirius XM. Why I don't know?


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