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As expected, Liberty Media Corp. came to Sirius XM’s rescue Tuesday (Feb. 17) just in the nick of time. In a deal announced by both companies, Liberty agreed to invest an aggregate $530 million in the form of loans to Sirius XM in exchange for a 40 percent equity interest in the company.
The deal comes on the day Sirius XM’s debt of $175 million was due and allows Sirius XM to avoid bankruptcy, which the satcaster warned would be coming if it could not service its debt.
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