MLB seeking payments from XM--Mel Phillips, Radio Daily News

(Phillips): "The announcement from FCC head Kevin Martin that there could be a decision on the XM-Sirius merger by the end of June couldn’t come fast enough for XM.

• What XM is going through now is a convincing argument against carrying sports. Since announcing its deal to carry Major League Baseball in 2004, XM has forked over roughly $180 million of the total package of $650 million due MLB before the deal has concluded in 2015.

Now XM is struggling to maintain a required $120 million escrow account which is part of its agreement with MLB…With money now tighter than ever, XM, having a tough time coming up with the dough may have to issue more stock which will hurt existing shareholders.

• In the meantime XM is having discussions with MLB about the escrow and related matters."....

From Mel Phillips Now and Then Blog, "MLB Puts the Heat on XM," 5/27/08 Via RadioDailyNews.com

• (Needless to say, baseball needs to stay on satellite radio, hopefully it's XM). sm

MORE ON THE XM/SIRIUS DEAL: Re: the FCC delay is costing XM money.

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