Liberty Helps Sirius XM Avoid Bankrputcy

Shares of Sirius XM Satellite Radio doubled Tuesday morning to a mere 20 cents on news that Liberty Media (DirectTV) will invest $530 million in the the beleaguered satelite radio company. The move rebuffs suitor Echostar (Dish Network) that allows allows Sirius XM to avoid a Chapter 11 bankruptcy filing. More:

• Marketwatch
  
• New York Times
• Washington Post