Liberty/Sirius Would Hurt DirecTV Roll Up: Analyst

Collins Stewart's Egan Calls Deal "Highly Unlikely"

Liberty Media's reported moves to invest in or acquire satellite radio giant Sirius XM Radio would have a detrimental affect on the content giant's stated plans to roll up its interest in DirecTV, Collins Stewart media analyst Tom Eagan said in a research note Thursday.

According to reports in The Wall Street Journal and The New York Times, Liberty chairman John Malone is mulling whether to become a white knight for Sirius, which faces a $175 million debt payment next week. According to both papers, Malone has been in talks with Sirius CEO Mel Karmazin about a possible investment or buying the company outright.

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