This would suck if they eventually went under. I don't think I could go back to crappy FM/AM radio. I heard their free online listening feature was going to be pay soon, too. http://www.cnbc.com/id/29126444 ------------------------------------------------ Sirius XM Satellite Radio has been working with advisers to prepare for a possible bankruptcy filing in a move that could put pressure on satellite company EchoStar, which owns a substantial amount of the company’s debt. Sirius has been working with the restructuring expert Joseph A. Bondi of Alvarez & Marsal and the bankruptcy lawyer Mark Thompson of Simpson, Thatcher & Bartlett to help prepare a Chapter 11 filing, peole close to the company said. The documents and analysis are close to being completed and a filing could come within days, according to a source familiar with the matter. Sirius has also been working with investment bank Evercore Partners. Charles Ergen, who controls a satellite-television empire including the Dish Network Corporation and EchoStar, recently acquired the majority of a $300 million tranche of Sirius debt that matures next Tuesday. Since the news about the debt purchase has emerged, questions have surfaced over whether Mr. Ergen will make a bid to purchase Sirius. The threat of a possible bankruptcy filing could force Mr. Ergen to make a formal offer for the company now if he doesn’t want to go through an auction in bankruptcy court. It could also compel Mr. Ergen to agree to convert his debt into an ownership stake in Sirius at a higher price than he originally considered.
I hope the FCC feels good about themselves for needlessly delaying the Sirius/XM merger to the point of almost killing both companies. One of the stupidest things they've ever done. It turns out a combination that scared them probably won't even survive. The "I don't see how this merger benefits consumers" idiots must think consumers will benefit by both of them going out of business and satellite radio being eliminated as a choice. BTW, I dropped XM about 18 months ago.
I have been less than impressed since the merger. XM was tolerable (and certain stations like Fred on 44 were outstanding), but when Sirius basically took over it's been all downhill. Why do they feel the need to have DJs? Ummm...you telling me what's playing? I see that on the screen...thanks.
I have LOVED my Sirius since 2006. Blue Collar Comedy makes the drive bearable. I also enjoy: First Wave 22 Lithium 24 90s on 9 Radio Classics 118 (I know...radio shows from when my Dad was a kid)
+1 With the exception of adding Jam_ON, I've been disappointed with Sirius' changes. My XM service was better before the merger.
That dude annoys me. Sirius is awesome. Some of my buddies didn't like the merger as far as losing a couple of stations, but it would suck if both went down the drain. I'm with fmp087, regular stations stink.
I don't think they're going anywhere...just getting out from under some obligations. The article says they're filing a Ch. 11.
Who's next? 15 Companies That Might Not Survive 2009 Rite Aid Claire’s Stores Chrysler Dollar Thrifty Automotive Group Realogy Corp Station Casinos Loehmann’s Capital Corp Sbarro Six Flags Blockbuster Krispy Kreme Landry’s Restaurants Sirius Satellite Radio Trump Entertainment Resorts Holdings BearingPoint
I'm not a fan, but his interview with Sasha Grey was great Sirius definitely went downhill after the station merger, but it's still much better than Houston radio.
Agreed 100%. I think they're going bankrupt because they continue to let Madison be an on-air DJ on Alt Nation. They drop her and not only will the company start making money but we'll have world peace. Can't stand that woman.
