John Malone ‘Saves’ Sirius Radio


Sirius might have been forced into bankruptcy today if not for Liberty Media’s John Malone, whose $530 million investment will enable the embattled satellite-radio provider to pay off its loans and remain solvent — at least a little while longer. The loan, which ultimately gives Liberty a 40 percent stake in the company, comes with a 15 percent interest rate. Let’s hope they’ll be able to make up for that in ad sales! Heh. [WSJ]