XM Challenged To Maintain $120 Million In Escrow For MLB Deal

XM’s (NSDQ: XMSR) multi-year agreement to carry Major League Baseball requires the satellite operator to maintain $120 million in an escrow account. But the company noted in a filing last week that this account is placing some strains on its finances. From the filing: “This escrow arrangement, which we intend to replace with a letter of credit, surety bond or other similar arrangement, reduces the company

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