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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Sirius creditors threaten to oust CEO: report Mon Feb 16, 2009 2:34am EST Email | Print | Share | Reprints | Single Page [-] Text [+] (Reuters) - A group of Sirius XM Radio Inc creditors will seek to remove Chief Executive Mel Karmazin if the company chooses a bankruptcy filing over a deal with an investor that would let it stay solvent, the Wall Street Journal said. "Creditors will act quickly and definitively if they perceive that management is (not) acting ... in the best interest of the estate," the paper quoted Edward Weisfelner, a partner with Brown Rudnick LLP - the law firm representing the creditor group - as saying. The satellite radio company said in response that its management is "continually working to ensure the best possible outcome for the enterprise," the Journal reported on its website on Sunday, adding that a final decision on Sirius' future is expected on Monday. Liberty Media Corp is in talks with Sirius to invest but not take it over, a source said on Friday, as Sirius tries to stave off a bid by EchoStar Corp. The talks with Liberty are seen as a last-ditch attempt by Karmazin to hold off EchoStar, which holds $175 million in Sirius convertible bonds due on February 17. Sirius said it had refinanced some debt that was due in December, but added that it still might have to file for Chapter 11 bankruptcy protection if talks toward refinancing other debt did not yield results by Tuesday. (Reporting by Ramya Dilip in Bangalore; editing by John Stonestreet) © Thomson Reuters 2009 All rights reserved Share: Del.icio.us Digg Mixx My Web Facebook LinkedIn Next Article: LG to grow market share with cheaper phones Video Video: G7 crisis talks Barbie turns heads on New York's catwalk at 50 One year after secession, Kosovo remains fragile More Technology News Sony Ericsson unveils 2 phones, video service Mobile data demand up despite economy: survey Adobe to make video on smartphones as on PCs LG to grow market share with cheaper phones Google to offer paid smartphone apps in Apple challenge More Technology News... Editor's Choice Slideshow A selection of our best photos from the past 24 hours. 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