SIRI » Topics » TABLE OF CONTENTS

These excerpts taken from the SIRI 10-K filed Mar 10, 2009.

TABLE OF CONTENTS

 

          Page
ARTICLE I
PURCHASE; CLOSING
1.1    Purchase    1
1.2    Closing    2
1.3    Closing Conditions.    2
ARTICLE II
REPRESENTATIONS AND WARRANTIES
2.1    Representations and Warranties of the Company    4
2.2    Representations and Warranties of Purchaser    7
ARTICLE III
COVENANTS
3.1    Filings; Other Actions    9
3.2    Corporate Actions.    10
3.3    Equity Issuances    11
3.4    Confidentiality    11
ARTICLE IV
ADDITIONAL AGREEMENTS
4.1    Standstill    11
4.2    Transfer Restrictions    14
4.3    Legend    15
4.4    Reservation for Issuance    16
4.5    [Reserved]    16
4.6    No-Shop; Competing Proposals; Right to Terminate and Pay Termination Fee; Purchaser’s Right to Improve Terms    16
4.7    Registration Rights    18
4.8    Participation Right    31
4.9    Election of Directors    33
ARTICLE V
MISCELLANEOUS
5.1    Survival    33
5.2      Expenses    34

 

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5.3    Amendment; Waiver    34
5.4    Counterparts    34
5.5    Governing Law    34
5.6    WAIVER OF JURY TRIAL    34
5.7    Notices    34
5.8    Entire Agreement    35
5.9    Interpretation; Other Definitions    35
5.10    Captions    39
5.11    Severability    39
5.12    No Third Party Beneficiaries    39
5.13    Public Announcements    39
5.14    Specific Performance    39
5.15    Termination    40

 

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TABLE OF CONTENTS

 

Item No

  

Description

   Page
   PART I   

Item 1

  

Business

   4

Item 1A.

  

Risk Factors

   18

Item 1B.

  

Unresolved Staff Comments

   26

Item 2.

  

Properties

   27

Item 3.

  

Legal Proceedings

   27

Item 4.

  

Submission of Matters to a Vote of Security Holders

   29
   PART II   

Item 5.

  

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

   30

Item 6.

  

Selected Financial Data

   32

Item 7.

  

Management’s Discussion and Analysis of Financial Condition and Results of Operations

   33

Item 7A.

  

Quantitative and Qualitative Disclosures About Market Risks

   70

Item 8.

  

Financial Statements and Supplementary Data

   70

Item 9.

  

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

   70

Item 9A.

  

Controls and Procedures

   70

Item 9B.

  

Other Information

   70
   PART III   

Item 10.

  

Directors, Executive Officers and Corporate Governance

   71

Item 11.

  

Executive Compensation

   71

Item 12.

  

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

   71

Item 13.

  

Certain Relationships and Related Transactions, and Director Independence

   71

Item 14.

  

Principal Accountant Fees and Services

   71
   PART IV   

Item 15.

  

Exhibits, Financial Statement Schedules

   72
  

Signatures

   73


Table of Contents

Sirius XM Radio Inc. has two principal wholly-owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc. XM Satellite Radio Holdings Inc. owns XM Satellite Radio Inc., the operating company for the XM satellite radio service. Satellite CD Radio Inc. owns the Federal Communications Commission (“FCC”) license associated with the SIRIUS satellite radio service. XM Satellite Radio Inc. owns XM Radio Inc., the holder of the FCC license associated with the XM satellite radio service.

Unless otherwise indicated,

 

   

“we,” “us,” “our,” the “company,” the “companies” and similar terms refer to Sirius XM Radio Inc. and its consolidated subsidiaries;

 

   

“SIRIUS” refers to Sirius XM Radio Inc. and its consolidated subsidiaries, excluding XM Satellite Radio Holdings Inc. and XM Satellite Radio Inc. and its subsidiaries;

 

   

“XM Holdings” refers to XM Satellite Radio Holdings Inc. and its consolidated subsidiaries, including XM Satellite Radio Inc.; and

 

   

“XM” refers to XM Satellite Radio Inc. and its consolidated subsidiaries.

The SIRIUS satellite radio business is conducted by SIRIUS; and the XM satellite radio business is conducted principally by XM. XM Holdings is primarily a holding company, although XM Holdings owns the former corporate headquarters and data center of XM and leases these buildings to XM; owns portions of the XM-3 and XM-4 satellites; holds the investment in XM Canada; and holds certain cash accounts.

TABLE OF CONTENTS

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 






























































































































































































Item No

  

Description

  Page
  PART I  

Item 1

  

Business

  4

Item 1A.

  

Risk Factors

  18

Item 1B.

  

Unresolved Staff Comments

  26

Item 2.

  

Properties

  27

Item 3.

  

Legal Proceedings

  27

Item 4.

  

Submission of Matters to a Vote of Security Holders

  29
  PART II  

Item 5.

  

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

  30

Item 6.

  

Selected Financial Data

  32

Item 7.

  

Management’s Discussion and Analysis of Financial Condition and Results of Operations

  33

Item 7A.

  

Quantitative and Qualitative Disclosures About Market Risks

  70

Item 8.

  

Financial Statements and Supplementary Data

  70

Item 9.

  

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

  70

Item 9A.

  

Controls and Procedures

  70

Item 9B.

  

Other Information

  70
  PART III  

Item 10.

  

Directors, Executive Officers and Corporate Governance

  71

Item 11.

  

Executive Compensation

  71

Item 12.

  

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

  71

Item 13.

  

Certain Relationships and Related Transactions, and Director Independence

  71

Item 14.

  

Principal Accountant Fees and Services

  71
  PART IV  

Item 15.

  

Exhibits, Financial Statement Schedules

  72
  

Signatures

  73





Table of Contents


Sirius XM Radio Inc. has two principal wholly-owned subsidiaries, XM Satellite Radio Holdings Inc. and
Satellite CD Radio Inc. XM Satellite Radio Holdings Inc. owns XM Satellite Radio Inc., the operating company for the XM satellite radio service. Satellite CD Radio Inc. owns the Federal Communications Commission (“FCC”) license associated
with the SIRIUS satellite radio service. XM Satellite Radio Inc. owns XM Radio Inc., the holder of the FCC license associated with the XM satellite radio service.

FACE="Times New Roman" SIZE="2">Unless otherwise indicated,

 







  

“we,” “us,” “our,” the “company,” the “companies” and similar terms refer to Sirius XM Radio Inc. and its
consolidated subsidiaries;

 







  

“SIRIUS” refers to Sirius XM Radio Inc. and its consolidated subsidiaries, excluding XM Satellite Radio Holdings Inc. and XM Satellite Radio Inc. and its
subsidiaries;

 







  

“XM Holdings” refers to XM Satellite Radio Holdings Inc. and its consolidated subsidiaries, including XM Satellite Radio Inc.; and

 







  

“XM” refers to XM Satellite Radio Inc. and its consolidated subsidiaries.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The SIRIUS satellite radio business is conducted by SIRIUS; and the XM satellite radio business is conducted principally by XM. XM Holdings is primarily
a holding company, although XM Holdings owns the former corporate headquarters and data center of XM and leases these buildings to XM; owns portions of the XM-3 and XM-4 satellites; holds the investment in XM Canada; and holds certain cash accounts.

This excerpt taken from the SIRI 8-K filed Mar 21, 2007.

TABLE OF CONTENTS

I.  INTRODUCTION    2 
       
  A.            The Applicants    2 
         
    1 .            Sirius Satellite Radio Inc    2 
             
    2 .  XM Satellite Radio Holdings Inc    4 
             
  B.  The Proposed Transaction    6 
         
II.  STANDARD OF REVIEW    7 
       
III.            THE TRANSACTION WILL SERVE THE PUBLIC INTEREST BY     
  ALLOWING THE COMBINED COMPANY TO OFFER LOWER PRICES     
  AND INCREASED CHOICE    9 
       
  A.  A Combined Sirius-XM Will Offer Consumers More Choice at Lower     
   
Prices
  10 
         
  B.  The Combined Company Will Provide Consumers More Diverse     
    Programming    12 
         
  C.  The Merger Will Help Accelerate Deployment of Advanced Technology    14 
         
  D.  The Merged Company Will Be Capable of Commercializing Interoperable     
    Receivers, Providing Greater Customer Choice and Convenience    15 
         
  E.  The Merger Will Create Operational Efficiencies and Will Safeguard the     
    Future of Satellite Radio    17 
         
IV.  THE TRANSACTION WILL NOT HARM COMPETITION IN THE MARKET     
  FOR AUDIO ENTERTAINMENT SERVICES    20 
       
  A.  Satellite Radio is a Small Part of a Highly Competitive and Ever-     
    Expanding Market for Audio Entertainment    21 
         
  B.  A Satellite Radio Merger Would Not Harm Competition in the Audio     
    Entertainment Market    40 
         
    1 .  A Combined Satellite Radio Provider Would Have No Market     
        Power In Light of the Widespread Availability of Competitive     
        Alternatives    40 
             
    2 .  A Satellite Radio Merger Would Not Bar Entry By New Providers     
        of Audio Entertainment Services    45 
             
V.  THE TRANSACTION SATISFIES THE REQUIREMENTS OF THE     
  COMMUNICATIONS ACT, ALL OTHER APPLICABLE STATUTES, AND     
  THE COMMISSION’S RULES    48 
       
  A.  Sirius and XM Are Qualified to Control FCC Licenses    48 
         
  B.  No Commission Rule Bars the Transaction    49 
         
VI.  FCC AUTHORIZATIONS AND PROCESSING    53 

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  A.            Request for Transfer of Authorizations   
53 
       
  B.  Request for Approval of Additional Authorizations   
54 
       
  C.  Request for Permit-But-Disclose Ex Parte Status   
55 
       
  D.  Section 304 Waiver   
55 
       
VII.            CONCLUSION   
56 
       
ATTACHMENT A – Corporate Structures     

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