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Sirius XM Prepares for Possible Bankruptcy

NFS4

NFS4

No Lifer
Wow, that was quick

Snippet:
But now Sirius XM, the satellite radio company, has problems with much bigger price tags. It has hired advisers to prepare for a possible bankruptcy filing, people involved in the process said...

Sirius XM, which never turned a profit when both companies were independent, is laden with $3.25 billion in debt. Its business model has been dependent, in part, on the ability to roll over its enormous debts ? used to finance sending satellites into space and attract talent like Mr. Stern (who was paid $100 million a year) ? at low rates for the foreseeable future until it could turn a profit.
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http://www.nytimes.com/2009/02...ml?_r=4&ref=technology
 
Originally posted by: akshatp
Sucks for those who bought the "lifetime" subs for their radios...
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Wow..I didn't even think about that. They tried to sell one to me when I set my account up, too.
 
Originally posted by: Damn Dirty Ape
I'd be completely shocked if they went off the waves from this.
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I think you are in denial then.

They haven't turn a profit, ever.

They made those stupid deals with Stern & Oprah.

They compress the crap out of most of the channels. I get better sound streaming with my iPhone.

Their stock closed at 11 cents yesterday.

The parent company of the Dish network has already started picking at the bones of XM/Sirus, by acquiring a big portion of maturing debt. I hear they plan to force XM into bankruptcy, so they can get their assets on the cheap. I highly doubt EchoStar plans on going into the radio business, and even if they do, I guarantee you it won't be commercial free.

I have XM for free until March. Sadly, I don't think they are going to make it until then.
 
I hope they figure something out to stay alive. I had XM for a couple years and now am with Sirius. I really enjoy and think it worth the money. But evidently I am in the minority.
 
Originally posted by: boomhower
I hope they figure something out to stay alive. I had XM for a couple years and now am with Sirius. I really enjoy and think it worth the money. But evidently I am in the minority.
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I've had XM since last Nov with my new car, and now feel like i can't live without it 🙁
 
Originally posted by: JLee
Originally posted by: akshatp
Sucks for those who bought the "lifetime" subs for their radios...
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Wow..I didn't even think about that. They tried to sell one to me when I set my account up, too.
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I did it... and i would be really mad if they stop broadcasting.
 
I really hope they work through this, they just re-signed bubba the love sponge, which is the reason I keep my subscription in the first place.
 
Stern gets me through the work mornings now that they unblocked it for me here... damn. Yesterday Stern was trying to get the EchoStar guy on the line to talk about it, maybe today he'll get him on.
 
Originally posted by: adairusmc
I really hope they work through this, they just re-signed bubba the love sponge, which is the reason I keep my subscription in the first place.
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I wouldn't keep it for Bubba considering he only does one real show a week on Sirius. Everything else is simply a rebroadcast of his terrestrial radio show.
 
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