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Sirius XM Radio Preparing for Bankruptcy?
Sirius XM
February 11, 2009 | by .(JavaScript must be enabled to view this email address)
The satellite radio giant has reportedly hired a law firm to handle its Chapter 11 filing.
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14 Comments (displaying chronologically) Post a comment
Posted by Paul  on  02/11  at  11:05 AM

Figures,

Fight to merge the companies, jack the subscription rates to #### off your existing customers, then file for chapter 11… how typical in this day and age.

Posted by PJ  on  02/11  at  02:14 PM

I hope the top executives manage to pay themselves a big fat bonus before they go belly up.

Posted by K G  on  02/12  at  11:51 AM

To each his own, but Stearn’s not worth $1 million, never mind the $100 or so million per year they’ve been paying him.  Maybe we’ll all learn we can live without this service .... though I’ll miss my XM.

Posted by JO  on  02/13  at  10:19 AM

Couldn’t be happier. Pay to listen to Stern? Pay to listen to Martha the criminal? Couldn’t be happier that this is flushing itself down the toilet.

Posted by William Quinones  on  02/13  at  10:21 AM

I guess with XM they figured “If I’m going down, I’m taking you with me”.
I paid for a lifetime subscription and didn’t realize the “lifetime” may be over soon.
After the merger they announced that they are going to charge monthly for internet streaming, one reason I paid for a lifetime subscription was to avoid having monthly payments….it really stinks.
I love Howard Stern but I’m very disappointed in Sirius.

Posted by William Murray  on  02/13  at  10:27 AM

I used to love Sirius, but quickly became disillusioned when they angled to acquire XM and gutted their programming. They eliminated all of the unique channels that made satellite radio great (including my two favorites, Boombox and Backspin) and replaced them with the same generic pop and 80s channels that you can get on terrestrial radio. Sure, you don’t have to deal with commercials via satellite, but that’s hardly a reason to stick with them in the age of high-capacity iPods and car audio connections.

Posted by John  on  02/13  at  10:35 AM

Can we now see where greed gets us.  Players of sports, Entertainers, CEO’s all demand huge salaries, end result, higher prices for consumers.  It then gets to a point where we as consumers can no longer afford what they offer nor can the ownership afford these high wages and then ask for protection under bankruptcy as so many are now doing.  When XM and Sirius were working against each other they were offering huge amounts of money to the likes of Stern, the NFL, MLB, NASCAR and others.  $100Mil a year for a talk show host is prime example. Sirius was expecting a huge following with Stern and it did not happen. I would hate to see SiriusXM end what is a great service.  My hope is they dump the high $‘s thay are paying out for these folks and get back to an affordable service.

Posted by Jay  on  02/13  at  12:20 PM

William, backspin is still on Sirius. It shows up under the Pop category as Pop2K for some reason now. I will just listening to it this morning.

Posted by Mike  on  02/13  at  12:33 PM

The thing to remember here is they are just going into chapter 11. Once they shed some debt and contracts there is no reason they can’t be profitable. Even if they were forced into chapter 7 someone would buy their subscribers and satellites and continue the server. I’d say the risk of XM/Sirius service ceasing to exist is slim to none.

Posted by DBEER  on  02/13  at  08:17 PM

they could file bankruptcy get rid of the high dollar talk radio shows and stay in buisness;  i only listen to liquid metal octane hair nation and boneyard; oh yea sometimes i listen to the comedy stations ; but i could care less about all the other stations

Posted by RW  on  02/15  at  11:05 AM

I liked the choice of stations while on my motorcycle., or in the shop, or in the truck.  No commercials, just my choice of music or old time radio shows.  The reason i stayed with XM was because they did not have Stern.  I think he is horrible and imoral.  I am no sain t, but at least I do not show people how peverted i can be on national radio.  Any one that would pay that kind of salary for that kind of smut should go belly up.  I will miss the good music choices though.

Posted by JohnnyGP  on  02/16  at  04:45 PM

Let them file Chap 11, fire Stern or pay him the $28 a year he is worth, then they can charge a more fair price, get more subscribers, and everyone is happy!

Posted by AL  on  02/28  at  06:11 AM

Maybe Sirrius XM should go the way of Local Radio and market with Commercials. Its not that I like commercials, but it might be a way to offer the listener a cheaper subscription solution. Right now , It’s all about the money, for everyone.

Posted by AL  on  04/01  at  04:52 PM

Sirius XM could find themselves in more trouble, if
Local radio tries to contract deals with Jimmy Buffet, Frank Sinatra, Margeuritaville, Smooth Jazz
Willie Nelson. You know that HD Radio, provides more transmission of multiple broadcasts. If I needed to generate 3 billion dollars real quick, I’d probably try to sell off some of these assets, or auction them off to competitor radio networks. If this isn’t practical, try easing in some commercial advertising, and drop annual fees to about half the present prices.

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