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  1. #1 Sirius XM Could File for Bankruptcy 'Within Days' 
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    Report: Sirius XM on the ropes, EchoStar ready to pounce
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    The satellite radio company could file for bankruptcy within days, according to the New York Times. Waiting in the wings? EchoStar, which has already taken on much of Sirius XM's mounting debt. So, is satellite radio about to go silent?

    Well … not quite yet. I doubt that the service would go dark overnight were Sirius XM to file for bankruptcy protection, but as the Times points out, the company might have to cut some of its pricier shows—I'm looking at you, Howard Stern—during a restructuring.

    Another scenario: A takeover by EchoStar, the satellite TV company that's circling Sirius XM like a vulture.

    So, how did Sirius XM get into this mess? Chalk it up to a mountain of debt: $3.25 billion, give or take, about $175 million of which the cash-strapped company owes this month.

    As Bloomberg reports, Sirius XM turned down a takeover bid from EchoStar back in December; since then, EchoStar has been buying up chunks of Sirius XM's debt.

    Neither Sirius XM nor EchoStar are talking, but sources tell the New York Times that the two respective CEOs—who are "said not to get along"—are "locked" in negotiations. (That must be a fun meeting.)

    Negotiations over … what? Well, the Wall Street Journal (via Tech Trader Daily) reports that EchoStar is offering to bail out Sirius XM by restructuring its debt and pumping in some much-needed cash—in exchange for total control, of course. If that happens, say hello to "Sirius XM: An EchoStar service."

    The alternative: Sirius XM files for bankruptcy, leaving EchoStar to pick over the remains in bankruptcy court.

    Either way, I'm pretty sure we're looking at the end of Sirius XM as we know it. The best scenario for subscribers, I'm guessing, is a takeover by the well-funded EchoStar, which could probably keep the satellite radio service afloat without skipping a beat.

    But bankruptcy … well, if that happens, prepare for Howard Stern to be replaced by Crazy Chuck, broadcasting live from his mobile home in West Sacramento.
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  2. #2  
    Senior Member newshutr's Avatar
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    You've posted something that was originally written 2/11/09. Sirius XM has worked out a deal for it's current debt,with Liberty Media, staving off EchoStar for the near future.
    Last edited by newshutr; 03-03-2009 at 08:16 PM.
    Yes..this camera is heavy.
    No...you can't be on TV.
    Look kid, go bother the reporter...I'm busy!!!
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  3. #3  
    CU's Tallest Midget! PoliCon's Avatar
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    they need to hold out a little bit longer. In a short while when the dems cram the fairness doctrine down our throats - XM will be the only place with freedom of expression.
    Stand up for what is right, even if you have to stand alone.
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  4. #4  
    Senior Member newshutr's Avatar
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    One thing Sirius was not good at doing was signing high name people that won't draw listeners to radio. Oprah, Martha Stewart? For all that money and only an hour long show once a week??

    Howard may be many things but he is a radio man. He can draw people. He's been worth every penny that they've paid him.
    Yes..this camera is heavy.
    No...you can't be on TV.
    Look kid, go bother the reporter...I'm busy!!!
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  5. #5  
    CU's Tallest Midget! PoliCon's Avatar
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    Quote Originally Posted by newshutr View Post
    One thing Sirius was not good at doing was signing high name people that won't draw listeners to radio. Oprah, Martha Stewart? For all that money and only an hour long show once a week??

    Howard may be many things but he is a radio man. He can draw people. He's been worth every penny that they've paid him.
    and when they pass the fairness doctrine - when rush and hannity and glenn go over to XM - and can only be heard on XM . . . . .
    Stand up for what is right, even if you have to stand alone.
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