Getting your player ready...
Satellite TV mogul Charlie Ergen is the key player in a battle over Sirius XM Radio. The chief executive of Douglas County-based satellite-TV provider Dish Network and sister firm EchoStar is a former professional gambler who bought much of a $300 million batch of discounted Sirius bonds that come due next week. He offered to restructure the debt and inject several hundred million dollars into Sirius in exchange for control of the company, according to The Wall Street Journal. As time is running out for Sirius and CEO Mel Karmazin, his past adversary Ergen holds the “cards that determine whether or not Sirius goes into bankruptcy,” Sanford Bernstein analyst Craig Moffett said. “He’s the one to whom interest is due.” The Associated Press
