After Stone got into the car, he did not know that the Dorsey and Williams had a meeting scheduled with Zuckerberg to talk about the acquisition. After casually talking about a price, Stone thought of $500 million.

After entering a meeting room, Mark Zuckerberg took the only single chair in the room. Biz Stone and Evan Williams had to share a small love seat to discuss the price with Zuckerberg. Biz attempted to tell a few jokes, but they did not really work. “It seemed like he had twelve people in his head,” said Biz in the interview, “He was prepared for every scenario.”

Zuckerberg said that he did not like to talk numbers but said he would say “yes” or “no” to a specific number that they asked for. After they said $500 million, Zuckerberg said “that’s a big number.” There eventually was an offer in cash and stock, but Williams decided to tell him no thanks.

You can hear the whole interview here: http://matthewkeys.net/sterntwitter.mp3

[TechCrunch]

Stern helped Sirius exceed subscriber targets by at least 2 million in each year of the contract. Stern believes that this should have triggered a stock award each time. Sirius had 230,000 subscribers at the end of 2003 when XM had 1.3 million. At the end of this December, the combined company had 20.2 million.

“When Sirius needed Stern, it promised him a share in any success that the company achieved,” stated the lawsuit. “But now that Sirius has conquered its chief competitor and acquired more than 20 million subscribers, it has reneged on its commitment to Stern, unilaterally deciding that it has paid him enough.”

[HuffPo]

Lyndal Harrington is a blogger that lives in Houston, Texas.  Fifty-three year old grandmother Harrington was put in jail last week because she failed to come up with a legitimate excuse for why she could not turn in a PC as evidence for the lawsuit filed against her.  The court subpoenaed her PC as evidence, but Harrington stated that a thief broke into her house and stole it.  Harrington was ordered to be put in jail for contempt by U.S. District Judge Tony Lindsay.

The lawsuit filed against Harrington was related to a defamation case involving the 1993 Playmate of the Year Anna Nicole Smith, who passed away in February 2007.  Anna Nicole’s mother Virgie Arthur filed a lawsuit against Harrington, Howard Stern, and Larry Birkhead for defamation.  Supposedly Harrington wrote a blog post on Rose Speaks about how Virgie Arthur married her stepbrother and abused Smith as a kid.  Arthur claims that the three individuals conspired against her so that she would not win custody of Smith’s daughter.  Smith’s daughter may inherit $100 million.

The police and Judge Lindsay accused Harrington of staging a theft of her PC.  Harrington was given until July 2nd to produce the computer, but she says “I can’t turn over something I don’t have.”

Harrington said that she did not conspire blog posts with anyone and just voiced her opinion online because her “business had fallen apart in this economy and it was something to do.”

[via ArsTechnica]

Sirius is now hiring advisers in preparation for a possible bankruptcy according to sources at the NYT.  This is bad news for celebrities who currently depend on Sirius XM to broadcast content such as Eminem’s Shade45 and Howard Stern.  A bankruptcy may cause Sirius XM to cancel contracts with celebrities.

If Sirius goes bankrupt, it would be the second largest Chapter 11 of the year.  The company has $5 billion in assets including the satellite technologies.  That is shortly behind Smurfit-Stone, a company with $7 billion in assets.  Sirius XM has never seen a profit even when both companies were independent of each other.  Now they have $3.25 billion in debt.

The automotive industry taking a hit has a direct correlation with Sirius’ failure.  Many of the new cars on the market are Sirius XM-ready.  If consumers aren’t buying them, they won’t have access to the satellite radio unless buying the peripheral device.

“Sirius XM hired Joseph A. Bondi of Alvarez & Marsal and Mark J. Thompson, a bankruptcy lawyer with Simpson, Thacher & Bartlett, to help prepare a Chapter 11 filing,” stated the NYT.  “Documents and analysis are close to completion and a filing could come in days.”

EchoStar, a TV company may end up pushing the takeover Sirius as they already have bought some of the satellite radio company’s debt at $400 million worth.  Once Pulse 2.0 finds out more, we’ll report it in the coming weeks.

For more information, check out the discussion on Techmeme.