Sirius XM Radio has been rescued by Liberty Media, which is paying hundreds of millions of dollars to keep the satellite broadcaster from defaulting on its loans. The deal gives Liberty Media a non-controlling minority stake in the company. Despite earlier reports of a bankruptcy filing, this last-minute maneuver--loan payments are due today--keeps the company on safe ground.
acquisition: February 2009 Archives
Appliance Direct, a small chain in central Florida, is assuming control of Rex Stores. Rex, also an appliance seller with a presence in Florida, had been struggling and closing stores in recent months. Appliance Direct has taken over roughly half Rex's locations and is negotiating to acquire other stores and much of its inventory. When complete, the buyout will significantly increase Appliance Direct's regional footprint.
Toys 'R' Us has acquired online retailer eToys and its sister websites. The deal ends the bankruptcy filing of eToys' parent company, the, er, Parent Company. Toys 'R' Us also assumes control of Baby Universe and ePregnancy in the deal.
