Sirius XM Got, and Rebuffed, Bid from EchoStar/Dish

Satellite mogul Charles Ergen made an unsolicited offer late last year to take control of Sirius XM Radio and was rebuffed. Ergen proposed for one of his satellite companies -- EchoStar Corp. or Dish Network Corp. -- to inject enough capital into Sirius for it to meet its debt obligations and avoid a bankruptcy filing. Despite the rejection, Ergen has recently reiterated his interest in taking control of Sirius. Ergen isn't seeking to force Sirius into bankruptcy proceedings in order to acquire its assets more cheaply. He believes that satellite radio would complement his television operation. Both are subscriber-based programming businesses that rely on similar technology. Even if Mr. Ergen succeeds in acquiring control of Sirius, however, it is far from certain that federal regulators, whose approval would be required, would welcome the union of satellite television and radio. A deal would likely face close scrutiny and a lengthy review.