Sirius XM (Nasdaq:SIRI) Forges New Deal with PGA

Uncertainty surrounded whether or now Sirius XM would be able to make a deal to keep their contract with the PGA going. That's no longer a question as a new agreement has been reached, which will extend beyond the expiration date of December 31, 2010 of the old one.

The reason for the uncertainty on renewing the deal was in connection with expenses for staging the tournaments. Also paying for a portion of the production costs by the PGA was evidently struck in the new bargain.

It's not known what the rights fee was, but the deal was made when XM and Sirius were competing entities before their merger. Some employees have said it was close to $4 million altogether.

Since the agreement is in place, the finalization of it is expected to bring no surprises, and should be done sometime soon after Christmas.