Sirius could file bankruptcy as early as Tuesday

uscitizen

uscitizen

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Sirius could file bankruptcy as early as Tuesday

Feb 13, 5:36 PM (ET)

By DEBORAH YAO


Financially strapped Sirius XM Radio Inc. (SIRI) (SIRI) said Friday that it could file for bankruptcy as early as Tuesday if it cannot successfully negotiate with the holders of its debt.

While the satellite radio company said it has exchanged $172.5 million of debt maturing in December for new debt due in 2011, it still has about $175 million coming due this Sunday.

Sirius is fighting against attempts for control by Charlie Ergen, the chief executive of Dish Network Corp. (DISH) and sister company EchoStar Corp. (SATS) Ergen bought much of a $300 million batch of discounted Sirius bonds that come due next week. Sirius had rejected a previous offer by Ergen for control of the company.

http://apnews.myway.com/article/20090213/D96AVBV00.html

anyone dumb enough to pay Howard Stern 500 mil deserves to go belly up.
 
Charter Communications has announced it plans to file Chapter 11.
 
I bought XM , but then Sirius bought the only other satellite radio company (XM) so they could compete. Go figure.
 
I never understood the business model. I guess now I know why I couldn't understand how it could make money.

Hey, let's charge people for a service they're used to getting for free. We'll make it better by having Howard Stern say naughty words!!
 
Da Boneyard is good!
And no commercials.

Many different theme channels. Even something if you like Manilow and Anne Murray :D
 
I bought the stock, then when they started paying the outrageous cash to Stern I sold it. There is no way they could support that kind of pay scale.
 
I never listen to the radio anyway. Why do you need radio when you have an IPod?

But their filing chapter 11, so it doesn't look like they're going to be completely liquidated... yet.
 
Watermark said:
I never listen to the radio anyway. Why do you need radio when you have an IPod?

But their filing chapter 11, so it doesn't look like they're going to be completely liquidated... yet.
Click to expand...

Because over time, new music will be produced.

I listen to the radio to stay up on what's fresh.
 
Epicurus said:
Because over time, new music will be produced.

I listen to the radio to stay up on what's fresh.
Click to expand...

There's already so much music that in a thousand years a million people doing nothing but listening to it won't get done with it. It's a quixotic task for me to listen to the radio for that one song out of a thousand that's good. If something is truly fresh and good, it'll wind up on my IPod. If I miss something because I didn't do it myself, so fucking what, I saved all that time listening to shitty music.
 
Well if the ratio were 1 in 1000 for me, I probably wouldn't either. But for the stations I listen to, I find at least a couple of new tracks a week to keep me occupied. I burn out on music really easily so I have to keep acquiring new ones to listen to.
 
To me the best thing about XM and Sirius is that I can hear an entire song while I am travelling.
 
I appreciate the fact that when I'm driving through fly-over country I'm not subjected to country music and Conservative talk radio if I choose not to be.
 
It is cool for you lame fucks to hate on Howard Stern but he is responsible for 70-80% of their listeners. Well worth the 500 mil. The reason Sirius isn't profitable has nothing to do with him and if you think it does you are butt fucking retarded.

Do a fucking trend line to show how many listeners they gained since he was signed and where they were at prior.

Do another one that shows the failing of XM since he was signed and people started transferring to Sirius.

Goodnight faggots.
 
Howard Stern was definitely the best thing that happened to Sirius. They wouldn't even exist today if they hadn't signed that deal. Within the first two years he was signed, their listener base went from like 500k to 6 million. Now, I know that correlation doesn't equal causation, but it's pretty clear that a lot of people bought the receivers just to listen to his show.
 
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