Financial news sources including Reuters are reporting that the bankrupt Liqhtsquared firm is attempting to get court approval to come out of Banktruptcy under a financing plan supported by Fortress Investment, Melody Capital Partners, JP Morgan Chase and Harbinger Capital Partners. The plan is designed to avoid being taken over by the Dish Network who have also bid for the firm.
In a separate development, the satellite radio firm Sirius XM Radio has had its majority shareholder Liberty Media, propose that it acquires all the rest of the company’s shares in a share swap deal.
http://investor.siriusxm.com/releasedetail.cfm?ReleaseID=816965