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Sirius XM Radio(SIRI Quote) has significantly narrowed the divide in talks with satellite mogul Charles Ergen over a deal to save the company from a bankruptcy filing, the Wall Street Journal reports.
However, Sirius, the only satellite-radio operator in the U.S., continues to discuss a rival offer from Liberty Media(LINTA Quote), the Journal reports, citing people familiar with the situation.
The Journal notes the gap between what Ergen has proposed and Sirius has asked for has narrowed, but the parties haven't reached agreement yet on other, nonfinancial issues. Ergen is prepared to let Sirius CEO Mel Karmazin retain his position, the newspaper reports. ...
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