XM Sirius On The Brink of Chapter 11 Bankruptcy
Posted in Random by Dan at 3:38 am
This post was published 1 year 1 month 1 day ago which may make its actuality or expire date not be valid anymore. This site is not responsible for any misunderstanding.Wow, that didn’t take long. Satellite conglomerate XM Sirius is rumored to file bankruptcy within days.
This doesn’t look good. The Times is reporting that Sirius XM, home to Opie and Anthony, “has been working with advisers to prepare for a possible bankruptcy filing.” Of course, that’s different from OH MY GOD THEY’RE GOING BANKRUPT RIGHT NOW, but it’s not a good sign.
The satrad company has been working with some fancy bankruptcy lawyers, and it’s possible that a Chapter 11 filing could happen in the next few days.
The Times also notes a subplot: this could be a ploy to get EchoStar, which recently bought a boatload of the company’s debt, to make a formal bid for the company.#
Uh, Oh!
No big loss. Sure, I’m all for competition and access-anywhere media, but I’ve always thought sat. radio was overpriced and too limited. Not to say that std. radio is any better.
I love my Sirius radio in my car. I cannot stand FM radio. If this bankruptcy does happen and satellite radio goes off the air, I guess I will have to buy an iPod.
I thought XM Radio took over Sirius??? If so does this mean XM Radio is going belly up too?