<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Sirius Satellite Radio Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.001 per share
- -------------------------------------------------------------------------------
(Title of Class of Securities)
82966U 10 3
-------------------------------------------------
(CUSIP Number)
Chinh Chu
Blackstone Management Associates III L.L.C.
345 Park Avenue
New York, New York 10154
(212) 583-5872
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
Copy to:
Wilson S. Neely, Esq.
Simpson Thacher & Bartlett
425 Lexington Avenue
New York, New York 10017
(212) 455-2000
January 31, 2000
- -------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of (Sections) 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule (Section) 240.13d-7 for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 24 Pages
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 2 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Blackstone CCC Capital Partners L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
4,670,568
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 4,670,568
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,670,568
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.76%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 3 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Blackstone CCC Offshore Capital Partners L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
845,021
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 845,021
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
845,021
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.58%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 4 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Blackstone Family Investment Partnership III L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
352,059
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 352,059
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
352,059
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.09%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 5 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Blackstone Management Associates III L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
5,867,647
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 5,867,647
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 6 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peter G. Peterson
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 5,867,647
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,867,647
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 7 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stephen A. Schwarzman
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 5,867,647
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,867,647
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 8 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LJH Partners, LP
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
5,882
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 5,882
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,882
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 9 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lamont Partners, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
5,882
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 5,882
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 10 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Douglas S. Luke
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
5,882
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 5,882
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 11 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert C. Fanch Revocable Trust
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Colorado
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
5,882
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 5,882
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,882
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 12 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert C. Fanch
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
5,882
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 5,882
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 13 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BCI Investments II, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
2,941
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,941
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,941
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.01%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 82966U 10 3 PAGE 14 OF 24 PAGES
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William J. Bresnan
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
2,941
NUMBER OF -------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,941
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
STATEMENT PURSUANT TO RULE 13d-1
OF THE
GENERAL RULES AND REGULATIONS
UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Item 1. Security and Issuer.
This Statement on Schedule 13D (the "Schedule 13D") relates to the common stock,
par value $.001 per share ("Common Stock"), of Sirius Satellite Radio Inc., a
Delaware corporation (the "Company"). The principal executive offices of the
Company are located at 1221 Avenue of the Americas, 36th Floor, New York, New
York 10020 .
Item 2. Identity and Background.
This Schedule 13D is being filed jointly by Blackstone CCC Capital Partners
L.P., a Delaware limited partnership ("BCP CCC"), Blackstone CCC Offshore
Capital Partners L.P., a Cayman Islands exempted limited partnership ("BCP CCC
Offshore"), Blackstone Family Investment Partnership III L.P., a Delaware
limited partnership ("BFIP III"), Blackstone Management Associates III L.L.C., a
Delaware limited liability company ("BMA III"), Mr. Peter G. Peterson, Mr.
Stephen A. Schwarzman, LJH Partners, LP, a Delaware limited partnership ("LJH"),
Lamont Partners LLC, a Delaware limited liability company ("Lamont"), Mr.
Douglas S. Luke, Robert C. Fanch Revocable Trust, a Colorado revocable trust,
Mr. Robert C. Fanch, BCI Investments II LLC, a Delaware limited liability
company ("BCI II") and Mr. William J. Bresnan (the foregoing, collectively, the
"Reporting Persons").
BMA III is the sole general partner of BCP CCC and BFIP III and the sole
investment general partner of BCP CCC Offshore. Blackstone Services (Cayman)
LDC, a Cayman Islands limited duration company, is the administrative general
partner of BCP CCC Offshore. Pursuant to the partnership agreement of BCP CCC
Offshore, BMA III has the sole power to vote securities held by BCP CCC Offshore
and the sole power to dispose of securities held by BCP CCC Offshore. BCP CCC,
BCP CCC Offshore and BFIP III will hereinafter be referred to collectively as
the "Blackstone Partnerships" and the Blackstone Partnerships, together with BMA
III, Mr. Peter G. Peterson and Mr. Stephen A. Schwarzman, will hereinafter be
referred to collectively as the "Blackstone Persons".
BCP CCC, BCP CCC Offshore and BFIP III are principally engaged in the business
of investment in securities and the commitment of capital to facilitate
corporate restructurings, leveraged buyouts, bridge financings and other
investments. The principal business of BMA III consists of performing the
functions of, and serving as, the general partner of BCP CCC and of certain
affiliates and the investment general partner of BCP CCC Offshore and of certain
affiliates. The principal business and office address of BCP CCC, BFIP III and
BMA III is 345 Park Avenue, New York, New York 10154. The principal business and
office address of BCP CCC Offshore is c/o Blackstone Services (Cayman) LDC c/o
Hemisphere
Page 15 of 24 Pages
<PAGE>
Management (Cayman) Ltd., Zephyr House, Mary Street, 5th Floor, Georgetown,
Grand Cayman, Cayman Islands.
Messrs. Peter G. Peterson and Stephen A. Schwarzman are the founding members
(the "Founding Members") of BMA III. Each of the Founding Members is a United
States citizen. The principal occupations of each of the Founding Members is
serving as an executive of one or more of the Blackstone Partnerships, BMA III,
and their affiliates. The Founding Members are the managing members of BMA III.
The business address of each of the Founding Members is 345 Park Avenue, New
York, New York 10154.
Lamont is the sole general partner of LJH, and Mr. Douglas S. Luke is the sole
managing member of Lamont. Mr. Luke is a United States citizen. Mr. Luke's
principal occupation is serving as an executive of LJH and its affiliates. The
principal business address of each of LJH, Lamont and Mr. Luke is The Chrysler
Building, 48th Floor, 405 Lexington Avenue, New York, New York 10174. LJH,
Lamont and Mr. Luke will hereinafter be referred to collectively as the "LJH
Persons".
Robert C. Fanch is the sole trustee of Robert C. Fanch Revocable Trust. Mr.
Fanch is a United States citizen. Mr. Fanch's principal occupation is serving as
chairman and chief executive officer of Fanch Communications Incorporated. The
principal business address of both Mr. Fanch and Robert C. Fanch Revocable Trust
is 1873 South Bellaire Street, Suite 1550, Denver, Colorado 80222. Robert C.
Fanch Revocable Trust and Mr. Fanch will hereinafter be referred to collectively
as the "Fanch Persons".
Mr. William J. Bresnan is the sole managing member of BCI II. Mr. Bresnan is a
United States Citizen. Mr. Bresnan's principal occupation is serving as an
executive of Bresnan Communications Inc. and its affiliates. The principal
business address of both BCI II and Mr. Bresnan is 709 Westchester Ave., White
Plains, New York 10604. BCI II and Mr. Bresnan will hereinafter be referred to
collectively as the "BCI Persons."
During the last five years, the Reporting Persons have not been (i) convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors) or
(ii) a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding has been or is subject
to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, Federal or state securities laws
or finding any violations of such laws.
Item 3. Source and Amount of Funds or Other Consideration.
On January 31, 2000, the Blackstone Partnerships purchased, for an aggregate
purchase price of $199,500,000, a total of 1,995,000 shares of 9.2% Series D
Junior Cumulative Convertible Preferred Stock, par value $.001 per share (the
"Preferred Stock") of the Company. The source of funds was capital contributions
by the partners of the Blackstone Partnerships.
On January 31, 2000, LJH purchased, for an aggregate purchase price of $200,000,
a total of 2000 shares of Preferred Stock. The source of funds was capital
contributions by the limited partners of LJH.
On January 31, 2000, Robert C. Fanch Revocable Trust purchased, for an aggregate
purchase price of $200,000, a total of 2000 shares of Preferred Stock. The
source of funds was funds of Robert C. Fanch Revocable Trust.
Page 16 of 24 Pages
<PAGE>
On January 31, 2000, BCI II purchased, for an aggregate purchase price of
$100,000, a total of 1000 shares of Preferred Stock. The source of funds was
capital contributions by the members of BCI II.
Item 4. Purpose of Transaction.
The response to Item 3 is hereby incorporated by reference.
Blackstone Capital Partners III Merchant Banking Fund L.P. ("BCP III") and the
Company entered into a Stock Purchase Agreement, dated as of December 23, 1999
(the "Stock Purchase Agreement"), which provided for the purchase of 2,000,000
shares of Preferred Stock for an aggregate purchase price of $200,000,000. Prior
to the closing and pursuant to the terms of the Stock Purchase Agreement, BCP
III assigned its rights thereunder to BCP CCC (1,587,993 shares of Preferred
Stock), BCP CCC Offshore (287,307 shares of Preferred Stock), BFIP III (119,700
shares of Preferred Stock), LJH (2,000 shares of Preferred Stock), Robert C.
Fanch Revocable Trust (2,000 shares of Preferred Stock) and BCI II (1,000 shares
of Preferred Stock).
The Company issued the Preferred Stock to the Blackstone Partnerships, LJH,
Robert C. Fanch Revocable Trust and BCI II in order to finance its operations
and for other general corporate purposes.
Preferred Stock.
Each share of Preferred Stock is convertible (at the option of the holder
thereof) at any time into the number of fully paid and nonassessable shares of
Common Stock calculated by dividing the Liquidation Preference (as defined
below) by $34.00 (the "Conversion Price"), such Conversion Price to be adjusted
in certain circumstances as provided for in the Certificate of Designations,
Preferences and Relative, Participating, Optional and Other Special Rights of
9.2% Series D Junior Cumulative Convertible Preferred Stock (the "Certificate of
Designations").
The Preferred Stock, with respect to payment of dividends, redemption payments
and rights upon liquidation, dissolution or winding up the affairs of the
Company, ranks senior and prior to the Common Stock and any other class or
series of capital stock of the Company that by its terms ranks junior to the
Preferred Stock. The Preferred Stock ranks on a parity with the 9.2% Series A
Junior Cumulative Convertible Preferred Stock and the 9.2% Series B Junior
Convertible Preferred Stock and the Parity Dividend Stock (as defined in the
Certificate of Designations) and Parity Liquidation Stock (as defined in the
Certificate of Designations). The Preferred Stock ranks junior to the Company's
10.5% Series C Convertible Preferred Stock, and all Senior Dividend Stock (as
defined in the Certificate of Designations) and Senior Liquidation Stock (as
defined in the Certificate of Designations). In the event of any voluntary or
involuntary liquidation, dissolution or winding-up of the Company, the holders
of the Preferred Stock are entitled to receive $100.00 per share (the
"Liquidation Preference") plus all accrued and unpaid dividends, to the payment
date.
The holders of Preferred Stock will receive cumulative dividends at the annual
rate of 9.2% of the sum of (x) the Liquidation Preference and (y) all unpaid
dividends, if any, whether or not declared, from the date of issuance of
Preferred Stock to the applicable dividend payment date. Dividends will be
payable in cash or, at the Company's option, in additional shares of Preferred
Stock.
From and after December 23, 2002 and prior to December 23, 2004, the Company, at
its option, may redeem shares of Preferred Stock, in whole or in part, at the
redemption price of 100% the Liquidation Preference
Page 17 of 24 Pages
<PAGE>
thereof, plus an amount equal to the unpaid dividends thereon, if the Current
Market Price (as defined in the Certificate of Designations) of the Common Stock
equals or exceeds $68.00. From and after December 23, 2004, the Company may
redeem shares of Preferred Stock, in whole or in part, at a redemption price of
100% of the Liquidation Preference thereof, plus an amount equal to the unpaid
dividends thereon. On November 15, 2011, the Company must redeem all outstanding
shares of the Preferred Stock at a redemption price of 100% of the Liquidation
Preference thereof, plus an amount equal to the unpaid dividends thereon.
Holders of shares of Preferred Stock will be entitled to vote together as a
single class with the holders of shares of Common Stock (and any other series or
class of voting stock entitled to vote thereon) on all matters as to which
holders of shares of Common Stock are entitled to vote. In such instances, each
share of Preferred Stock will vote on an "as converted" basis, using the
Conversion Price then in effect.
The foregoing descriptions do not purport to be complete and are qualified in
their entirety by reference to the Stock Purchase Agreement and the Certificate
of Designations, a copy of each of which has been filed as an exhibit to this
Schedule 13D and is incorporated herein by reference.
The shares of Preferred Stock are being acquired by the Reporting Persons for
investment purposes. The Reporting Persons do not currently have, and do not
intend to have in the future, any representation on the Company's Board, nor do
the Reporting Persons currently have any intention of acquiring additional
shares of Preferred Stock (other than through in-kind dividends) or Common Stock
(other than through conversion of the Preferred Stock). Notwithstanding the
foregoing, the Reporting Persons retain the right to change their investment
intent, to propose one or more possible transactions to the Company's Board, to
acquire additional shares of Preferred Stock or Common Stock from time to time
or to sell or otherwise dispose of all or part of the Preferred Stock (or any
shares of Common Stock into which such Preferred Stock is converted)
beneficially owned by them in any manner permitted by law. In the event of a
material change in the present plans or intentions of the Reporting Persons, the
Reporting Persons will amend this Schedule 13D to reflect such a change.
Other than as described above, none of the Reporting Persons have any plans or
proposals that relate to or would result in any of the actions described in
subparagraphs (a) through (j) of Item 4 of Schedule 13D (although they reserve
the right to develop such plans).
Item 5. Interest in Securities of the Issuer.
(a) and (b). The information contained on the cover pages to this Schedule 13D
is incorporated herein by reference.
Pursuant to the Stock Purchase Agreement, BCP CCC, BCP CCC Offshore and BFIP III
acquired shares of Preferred Stock having an aggregate Liquidation Preference of
$199,500,000, for an aggregate purchase price of $199,500,000. Assuming the
conversion of all of their Preferred Stock as of the date hereof, the Blackstone
Partnerships would own in the aggregate 5,867,647 shares of Common Stock of the
Company, representing approximately 15.53% of the outstanding Common Stock of
the Company.
Pursuant to the Stock Purchase Agreement, LJH acquired shares of Preferred Stock
having an aggregate Liquidation Preference of $200,000, for an aggregate
purchase price of $200,000. Assuming the conversion of all of its Preferred
Stock as of the date hereof, LJH would own in the aggregate 5,882 shares of
Common
Page 18 of 24 Pages
<PAGE>
Stock of the Company, representing approximately 0.02% of the outstanding Common
Stock of the Company.
Pursuant to the Stock Purchase Agreement, Robert C. Fanch Revocable Trust
acquired shares of Preferred Stock having an aggregate Liquidation Preference of
$200,000, for an aggregate purchase price of $200,000. Assuming the conversion
of all of its Preferred Stock as of the date hereof, Robert C. Fanch Revocable
Trust would own in the aggregate 5,882 shares of Common Stock of the Company,
representing approximately 0.02% of the outstanding Common Stock of the Company.
Pursuant to the Stock Purchase Agreement, BCI II acquired shares of Preferred
Stock having an aggregate Liquidation Preference of $100,000, for an aggregate
purchase price of $100,000. Assuming the conversion of all of its Preferred
Stock as of the date hereof, BCI II would own in the aggregate 2,941 shares of
Common Stock of the Company, representing approximately 0.01% of the outstanding
Common Stock of the Company.
The number of shares of Common Stock into which shares of Preferred Stock are
convertible may be increased upon the occurrence of certain events as described
in Item 4 and pursuant to anti-dilution provisions contained in the Certificate
of Designations. Beneficial ownership of such Preferred Stock was acquired as
described in Item 3 and Item 4. See also the information contained on the cover
pages to this Schedule 13D, which is incorporated herein by reference.
The securities of the Company held by the Reporting Persons may be subject from
time to time to various collateral and other similar security arrangements made
with third party financial institutions in the ordinary course of business.
BCP CCC, BCP CCC Offshore and BFIP III, acting through their sole general
partner BMA III, have the sole power to vote or to direct the vote, and to
dispose or to direct the disposition of, the Preferred Stock or Common Stock
respectively owned by them. As a result, for purposes of section 13(d) of the
Act, BMA III may be deemed to beneficially own the shares of Preferred Stock or
Common Stock directly owned by the respective Blackstone Partnerships of which
it is the general partner. The Founding Members of BMA III have shared power to
vote or to direct the vote of, and to dispose or to direct the disposition of,
the shares of Preferred Stock or Common Stock that may be deemed to be
beneficially owned by BMA III. As a result, each of such Founding Members may be
deemed to beneficially own the shares of Preferred Stock or Common Stock that
BMA III may be deemed to beneficially own. Each of BMA III and each Founding
Member disclaims beneficial ownership of such shares.
LJH, acting through its sole general partner Lamont, has the sole power to vote
or to direct the vote, and to dispose or to direct the disposition of, the
Preferred Stock or Common Stock owned by it. As a result, for purposes of
section 13(d) of the Act, Lamont may be deemed to beneficially own the shares of
Preferred Stock or Common Stock directly owned by LJH of which it is the general
partner. Mr. Douglas S. Luke, as the sole managing member of Lamont, has sole
power to vote or to direct the vote of, and to dispose or to direct the
disposition of, the shares of Preferred Stock or Common Stock that may be deemed
to be beneficially owned by Lamont. As a result, Mr. Luke may be deemed to
beneficially own the shares of Preferred Stock or Common Stock that Lamont may
be deemed to beneficially own. Each of Lamont and Mr. Luke disclaims beneficial
ownership of such shares.
Page 19 of 24 Pages
<PAGE>
Robert C. Fanch Revocable Trust, acting through its trustee Mr. Robert C. Fanch,
has the sole power to vote or to direct the vote, and to dispose or to direct
the disposition of, the Preferred Stock or Common Stock owned by it. As a
result, for purposes of section 13(d) of the Act, Mr. Fanch may be deemed to
beneficially own the shares of Preferred Stock or Common Stock directly owned by
Robert C. Fanch Revocable Trust, of which Mr. Fanch is the sole trustee. Mr.
Fanch disclaims beneficial ownership of such shares.
BCI II, acting through its managing member Mr. William J. Bresnan, has the sole
power to vote or to direct the vote, and to dispose or to direct the disposition
of, the Preferred Stock or Common Stock owned by it. As a result, for purposes
of section 13(d) of the Act, Mr. Bresnan may be deemed to beneficially own the
shares of Preferred Stock or Common Stock directly owned by BCI II of which Mr.
Bresnan is the managing member. Mr. Bresnan disclaims beneficial ownership of
such shares.
The Blackstone Partnerships, LJH, Robert C. Fanch Revocable Trust, BCI II and
certain other investors (collectively, the "Equity Investors") may be considered
to have acted or to be acting in concert with respect to the shares of the
Preferred Stock or Common Stock referred to in Item 4, and consequently, the
Equity Investors may be deemed to constitute a "group" for purposes of Section
13(d) of the Exchange Act. The Blackstone Persons disclaim membership in any
such "group" with the LJH Persons, the Fanch Persons or the BCI Persons.
Similarly, (i) the LJH Persons disclaim membership in any such "group" with the
Blackstone Persons, the Fanch Persons or the BCI Persons, (ii) the Fanch Persons
disclaim membership in any such "group" with the Blackstone Persons, the LJH
Persons or the BCI Persons and (iii) the BCI Persons disclaim membership in any
such "group" with the Blackstone Persons, the LJH Persons or the Fanch Persons.
(c) None of the Reporting Persons has beneficial ownership of, or has engaged in
any transaction during the past 60 days in, any shares of Preferred Stock or
Common Stock, except as disclosed in this Schedule 13D.
(d) No person, other than the Reporting Persons, has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of,
Preferred Stock or Common Stock referred to in this Item 5.
(e) Not applicable.
Item 6. Contracts, Arrangement or Understandings with Respect to Securities
of the Issuer.
The responses to Items 3, 4 and 5 of this Schedule 13D and Exhibits 2, 3, and 4
are incorporated herein by reference.
Except as set forth in this Statement, the Reporting Persons do not have any
contracts, arrangements, understandings or relationships (legal or otherwise)
with any person with respect to any securities of the Company, including but not
limited to, transfer or voting of any of the securities of the Company, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies, or a
pledge or contingency the occurrence of which would give another person voting
power over the securities of the Company.
Page 20 of 24 Pages
<PAGE>
Item 7. Material to be Filed as Exhibits.
1. Joint Filing Agreement
2. Stock Purchase Agreement, dated as of December 23, 1999, among
the Company, Blackstone Capital Partners III Merchant Banking
Fund and the other Purchasers Party thereto (incorporated by
reference to Exhibit 99.1 to the Current Report on Form 8-K of
the Company, filed on December 28, 1999).
3. Certificate of Designations, Preferences and Relative,
Optional and Other Special Rights of 9.2% Series D Junior
Cumulative Convertible Preferred Stock (incorporated by
reference to Exhibit 99.2 to the Current Report on Form 8-K of
the Company, filed on December 28, 1999).
4. Letter Agreement, dated December 23, 1999, among the Company,
Apollo Investment Fund IV, L.P., Apollo Overseas Partners IV,
L.P. and Blackstone Capital Partners III Merchant Banking Fund
L.P.
Page 21 of 24 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
BLACKSTONE CCC CAPITAL PARTNERS L.P.
By: BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
----------------------------------
Name: Chinh Chu
Title: Member
BLACKSTONE CCC OFFSHORE CAPITAL
PARTNERS L.P.
By: BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
----------------------------------
Name: Chinh Chu
Title: Member
BLACKSTONE FAMILY INVESTMENT
PARTNERSHIP III L.P.
By: BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
----------------------------------
Name: Chinh Chu
Title: Member
Page 22 of 24 Pages
<PAGE>
BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
----------------------------------
Name: Chinh Chu
Title: Member
/s/ Peter G. Peterson
-------------------------------------
PETER G. PETERSON
/s/ Stephen A. Schwarzman
-------------------------------------
STEPHEN A. SCHWARZMAN
LJH PARTNERS, L.P.
By: Lamont Partners, LLC,
its General Partner
By: /s/ Douglas S. Luke
----------------------------------
Name: Douglas S. Luke
Title: Managing Member
LAMONT PARTNERS, LLC
By: /s/ Douglas S. Luke
----------------------------------
Name: Douglas S. Luke
Title: Managing Member
/s/ Douglas S. Luke
-------------------------------------
DOUGLAS S. LUKE
Page 23 of 24 Pages
<PAGE>
ROBERT C. FANCH REVOCABLE TRUST
By: /s/ Robert C. Fanch
----------------------------------
Name: Robert C. Fanch
Title: Trustee
/s/ Robert C. Fanch
-------------------------------------
ROBERT C. FANCH
BCI INVESTMENTS II, LLC
By: /s/ William J. Bresnan
----------------------------------
Name: William J. Bresnan
Title: Managing Member
/s/ William J. Bresnan
-------------------------------------
WILLIAM J. BRESNAN
Dated: February 9, 2000
Page 24 of 24 Pages
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Section 13(d) of the Securities Exchange Act of 1934, as
amended, the undersigned hereby agree to the joint filing on behalf of each of
us of a statement on Schedule 13D relating to the Common Stock, par value $.001
per share, of Sirius Satellite Radio Inc., a Delaware corporation, and that any
amendments thereto filed by any of us will be filed on behalf of each of us.
This Agreement may be included as an exhibit to such joint filing.
BLACKSTONE CCC CAPITAL PARTNERS L.P.
By: BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
-------------------------------------
Name: Chinh Chu
Title: Member
BLACKSTONE CCC OFFSHORE CAPITAL
PARTNERS L.P.
By: BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
-------------------------------------
Name: Chinh Chu
Title: Member
BLACKSTONE FAMILY INVESTMENT
PARTNERSHIP III L.P.
By: BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
-------------------------------------
Name: Chinh Chu
Title: Member
BLACKSTONE MANAGEMENT
ASSOCIATES III L.L.C.
By: /s/ Chinh Chu
-------------------------------------
Name: Chinh Chu
Title: Member
<PAGE>
2
/s/ Peter G. Peterson
----------------------------------------
PETER G. PETERSON
/s/ Stephen A. Schwarzman
----------------------------------------
STEPHEN A. SCHWARZMAN
LJH PARTNERS, L.P.
By: Lamont Partners, LLC,
its General Partner
By: /s/ Douglas S. Luke
-------------------------------------
Name: Douglas S. Luke
Title: Managing Member
LAMONT PARTNERS, LLC
By: /s/ Douglas S. Luke
-------------------------------------
Name: Douglas S. Luke
Title: Managing Member
/s/ Douglas S. Luke
----------------------------------------
DOUGLAS S. LUKE
<PAGE>
3
ROBERT C. FANCH REVOCABLE TRUST
By: /s/ Robert C. Fanch
-------------------------------------
Name: Robert C. Fanch
Title: Trustee
/s/ Robert C. Fanch
----------------------------------------
ROBERT C. FANCH
BCI INVESTMENTS II, LLC
By: /s/ William J. Bresnan
-------------------------------------
Name: William J. Bresnan
Title: Managing Member
/s/ William J. Bresnan
----------------------------------------
WILLIAM J. BRESNAN
Dated: February 8, 2000
<PAGE>
EXHIBIT 4
[Sirius Satellite Radio Letterhead]
December 23, 1999
Apollo Investment Fund IV, L.P.
Apollo Overseas Partners IV, L.P.
c/o Apollo Management, L.P.
1301 Avenue of the Americas, 38th Floor
New York, New York 10019
Attention: Marc Rowan
Blackstone Capital Partners III Merchant
Banking Fund L.P.
345 Park Avenue, 31st Floor
New York, New York 10154
Attention: Chinh Chu
Dear Ladies and Gentlemen:
Sirius Satellite Radio Inc. (the "Company") expects to enter into a
Stock Purchase Agreement in the form attached hereto as Exhibit A (the "Stock
Purchase Agreement") with Blackstone Capital Partners III Merchant Banking Fund
L.P. (together with its successors and permitted assigns, the "Purchasers")
pursuant to which the Purchasers will agree to purchase from the Company
2,000,000 shares of 9.2% Series D Junior Cumulative Convertible Preferred Stock,
par value $0.001 per share (the "Series D Preferred Stock"), of the Company
having the terms contained in the Certificate of Designations, Preferences and
Relative, Participating, Optional and Other Special Rights attached as Exhibit B
to this letter (the "Series D Certificate of Designations"). Apollo Investment
Fund IV, L.P. ("AIF IV") and Apollo Overseas Partners IV, L.P. ("AOP IV", and
together with AIF IV, the "Apollo Investors") are the sole holders of the
Company's 9.2% Series A Junior Cumulative Preferred Stock ("Series A Preferred
Stock") and the Company's 9.2% Series B Junior Cumulative Preferred Stock (the
"Series B Preferred Stock").
This letter sets forth the agreement among the Company, the Apollo
Investors and the Purchasers regarding certain matters in connection with the
sale and issuance of the Series D Preferred Stock.
1. The Apollo Investors hereby irrevocably consent to the
authorization, creation and issuance by the Company, pursuant
to the Stock Purchase Agreement, of (i) Series D Preferred
Stock having an initial aggregate stated value of
<PAGE>
-2-
$200,000,000 and having the terms set forth in the Series D
Certificate of Designations and (ii) any Dividend Shares (as
defined in the Stock Purchase Agreement) having the terms set
forth in the Series D Certificate of Designations. The Company
acknowledges that the Series D Preferred Stock and Dividend
Shares consented to by this letter shall count towards the
$200 million Parity Stock "basket" provided for in Section
8(b)(iii) of the Series A Preferred Stock Certificate and the
Series B Preferred Stock Certificate (as defined below);
provided that the consent of the holders of the Series A
Preferred Stock and Series B Preferred Stock shall not be
required for the issuance of any Dividend Shares.
2. The Company hereby agrees that it will not exercise its rights
contained in Section 4(a)(1) of the respective Certificates of
Designations, Preferences and Relative, Participating,
Optional and Other Special Rights relating to the Series A
Preferred Stock and the Series B Preferred Stock
(respectively, the "Series A Preferred Stock Certificate" and
the "Series B Preferred Stock Certificate") to redeem any
Series A Preferred Stock (provided the Apollo Investors
continue to own any shares of Series A Preferred Stock) or
Series B Preferred Stock (provided the Apollo Investors
continue to own any shares of Series B Preferred Stock) prior
to the date the Series D Preferred Stock is redeemable
pursuant to Section 4(a)(1) of the Series D Certificate of
Designations.
3. The Apollo Investors agree that, notwithstanding Section
9.1(d) of the Stock Purchase Agreement dated November 13, 1998
(as amended, the "Apollo Agreement"), after December 23, 2001
the Holders (as defined in the Stock Purchase Agreement) shall
have "piggyback" rights pursuant to Section 9.2 of the Stock
Purchase Agreement with respect to any registration statement
filed by the Company as a result of a demand by the Apollo
Investors pursuant to Section 9.1 of the Apollo Agreement (an
"Apollo Demand Registration"). Prior to December 23, 2001, the
Holders (as defined in the Stock Purchase Agreement) shall
also have "piggyback" rights pursuant to Section 9.2 of the
Stock Purchase Agreement; provided, however, that, with
respect to any registration of shares by the Company on behalf
of itself or any shareholder pursuant to any "demand"
registration rights existing as of the date hereof, if the
lead underwriter reasonably determines in good faith that
marketing or other factors, including impact on price, require
any reduction of or limitation on the number of shares to be
included in such offering, all shares relating to the Series D
Preferred Stock shall be excluded from the offering and/or
sale before any Protected Shares are reduced or excluded from
the offering or sale, and any shares other than the Protected
Shares shall be offered and sold on a pro-rata basis based on
the number of such other shares offered for sale by the
holders of such other shares. "Protected Shares" means all
Registrable Securities (as defined in the Apollo Agreement),
the anticipated proceeds of
<PAGE>
-3-
which (in the relevant offering) when added to the aggregate
proceeds of all previous sales (in one or more transactions),
other than sales to any affiliates of the Apollo Investors, of
common stock of the Company, is less than or equal to
$100,000,000.
4. Subject to any limitation or restriction of rights contained
in paragraph 3, each of the Purchasers and the Apollo
Investors agree that in the event the Series A Preferred
Stock, Series B Preferred Stock or Series D Preferred Stock
has "piggyback" rights (including pursuant to Section 9.2 of
the Apollo Agreement or Section 9.2 of the Stock Purchase
Agreement) with respect to a registered public offering in
which the lead underwriter advises the Company that marketing
factors require a limitation on the number of shares that can
be underwritten, the reduction in the shares to be offered
pursuant to such offering shall be reduced among the Holders
(as defined in the Apollo Agreement) and the Holders (as
defined in the Stock Purchase Agreement) on a pro rata basis
based upon the amount of shares that each respective group of
holders had requested that the Company include in such
offering. Subject to any limitations or restrictions of rights
contained in paragraph 3, the foregoing sentence shall apply
regardless of whether the relevant registration was initiated
or demanded by any of the Holders (as defined in the Apollo
Agreement) or the Holders (as defined in the Stock Purchase
Agreement).
5. Anything in the Stock Purchase Agreement or the Apollo
Agreement to the contrary notwithstanding, each of the
Company, the Purchasers and the Apollo Investors hereby agrees
that it will not amend (or vote any securities of the Company
in favor of amending) Sections 3(a)(3), 4(a)(1) or 9(a) of the
Series D Certificate of Designations unless such amendment is
approved by a majority of the outstanding Series A Preferred
Stock (provided the Apollo Investors continue to own any
shares of Series A Preferred Stock) and Series B Preferred
Stock (provided the Apollo Investors continue to own any
shares of Series B Preferred Stock), acting as a single class.
The agreements contained in paragraph 4 and paragraph 5 of this letter
shall be enforceable by and are intended to benefit the Holders (as defined in
the Apollo Agreement) and the Holders (as defined in the Stock Purchase
Agreement) and shall be enforceable by them against the parties hereto.
This letter and the rights and the duties of the parties hereto shall
be governed by, and construed in accordance with, the laws of the State of New
York. This letter may be
<PAGE>
-4-
executed in counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same
instrument.
Very truly yours,
SIRIUS SATELLITE RADIO INC.
By: /s/ Patrick L. Donnelly
----------------------------------------
Patrick L. Donnelly
Senior Vice President and General
Counsel
<PAGE>
Accepted and agreed to as of
the date first above written:
APOLLO INVESTMENT FUND IV, L.P.
By: Apollo Advisors, IV, L.P., its
general partner
By: Apollo Capital Management IV, Inc.,
its general partner
By: /s/ Andrew Africk
-----------------------------------
Name: Andrew Africk
Title: Vice President
APOLLO OVERSEAS PARTNERS IV, L.P.
By: Apollo Advisors, IV, L.P., its
general partner
By: Apollo Capital Management IV, Inc.,
its general partner
By: /s/ Andrew Africk
-----------------------------------
Name: Andrew Africk
Title: Vice President
BLACKSTONE CAPITAL PARTNERS III
MERCHANT BANKING FUND L.P.
By: Blackstone Management Associates III, L.L.C.,
its General Partner
By: /s/ Chinh Chu
-----------------------------------
Name: Chinh Chu
Title: Member
