Sirius XM begins bankrupcty preparations

[fatediesel]

According to an article in today's New York Times Sirius XM has hired advisers to prepare for a possible bankruptcy filing. http://www.nytimes.com/2009/02/11/te...er=rss&emc=rss

According to the article this could lead to the termination of contracts of people like Martha Stewart and Howard Stern, and a possible takeover by Echostar.
It's pathetic that regulators allowed this merger to go through, as anyone with any brain would see that Sirius was taking on way too much debt and unless their business grew substantially they wouldn't be able to pay pay that debt off.

[Forrestandjen07]

NO!!!

I Love my sattelite radio

Please Dont Leave me

and send me back to the dark ages of FM!!

[xtop]

they're only doing this so dish buys them

[phlydude]

http://www.marketwatch.com/news/story/Sirius-XM-shares-drop-50/story.aspx?guid={685C969D-24D6-48A9-8782-4CFBD6D46D78}

Shares dropped 50% today amid the talks...

[Bigdog]

I could most likely buy a thousand shares with the change from my ash tray holder in my truck right now if i wanted to! The service is dead, if Howard is smart he starts begging for his old job back because sat. radio will be going offline within the next year IMO, they have nowhere near enough of a script base to continue paying on those ridiculous contracts they have thrown around there.

[Forrestandjen07]

http://www.cnbc.com/id/29180199

[proxpilot]

and to think i was going to try and get an XM setup for my car this week. =[

[Forrestandjen07]

Originally Posted by proxpilot

and to think i was going to try and get an XM setup for my car this week. =[

wanna buy my radios?
lol

[Forrestandjen07]

Im currious to see whats going to happen to all of us with year long plans

[DetroitSportsFan]

Bankruptcy doesn't mean it will go away. This allows Sirius/XM to do some restructuring.

[Forrestandjen07]

Originally Posted by DetroitSportsFan

Bankruptcy doesn't mean it will go away. This allows Sirius/XM to do some restructuring.

IMO Droping Howard stern would be a start

That man cant be worth that much money that he is getting, because the subscribers obviously arent flowing in to justify the cost of the money sirius is paying him.I honestly think he is getting over paid.

I say drop howard, Save the millions that they pay him, and see what happens.



Now I know you stern nuts wont agree with me, but the guy gets paid millions,

and according to a recent article on CNET he gets 10 weeks of vacation a year, and only works like 4 days a week.

http://news.cnet.com/8301-13645_3-10161317-47.html

[Psychonaut]

Dropping Stern right now won't do anything anyway since he's under contract and I'm sure has his bases covered in the event he's let go.

Howard was the main reason Sirius was able to get so many new subscribers. I think, though, that he started a trend of overpaid personalities as it seems everyone that gets their own show (not on Howard's channel) makes a ton of money.

[DetroitSportsFan]

Originally Posted by Forrestandjen07

IMO Droping Howard stern would be a start

Stern is the main reason why many people bought Sirius in the first place. If they get rid of him, they're basically committing suicide.

But I agree he is grossly overpaid, along with many other on-air personalities on Sirius/XM.

[Forrestandjen07]

Originally Posted by DetroitSportsFan

Stern is the main reason why many people bought Sirius in the first place. If they get rid of him, they're basically committing suicide.

But I agree he is grossly overpaid, along with many other on-air personalities on Sirius/XM.

which is what Im saying, I believe he is getting paid way more than worth, Sure he is keeping a bunch of subscribers around, But its brining in new subscribers that is the problem right now,

I would be currious to see a poll however on whats the main reason people got sattelite radio. Me Personally, Ive never even tuned to the Howard stern in the somewhat over a year of time I had the service, and never had an intrest too. I enjoyed watching him on tv awhile back tho.


This is the article I was refering too.

http://news.cnet.com/8301-13645_3-10161317-47.html

[Blu-Dog]

Originally Posted by Forrestandjen07

which is what Im saying, I believe he is getting paid way more than worth, Sure he is keeping a bunch of subscribers around, But its brining in new subscribers that is the problem right now,

I would be currious to see a poll however on whats the main reason people got sattelite radio. Me Personally, Ive never even tuned to the Howard stern in the somewhat over a year of time I had the service, and never had an intrest too. I enjoyed watching him on tv awhile back tho.

The idea that people were subscribing to the Howard Stern Radio made no sense to me back then, and it clearly doesn't make sense to anybody now.

The idea that if something is overpriced, people will pay for it, has absolutely been shown to be a joke in housing, consumer products, and now in entertainment. That's a good thing, because prices are being forced to go down.

Sirius/XM should be priced at half the current charge. Get rid of these bogus "name brands" and that could actually happen.

[pBLU-RAYs3]

Sirius should try to get more celebrities. The fans will surely follow, I guess.

[Forrestandjen07]

Originally Posted by Blu-Dog

The idea that people were subscribing to the Howard Stern Radio made no sense to me back then, and it clearly doesn't make sense to anybody now.

The idea that if something is overpriced, people will pay for it, has absolutely been shown to be a joke in housing, consumer products, and now in entertainment. That's a good thing, because prices are being forced to go down.

Sirius/XM should be priced at half the current charge. Get rid of these bogus "name brands" and that could actually happen.

Yea I think Having a half price subscription for a certain amount of months for new customers, Could be good deal

[Clark Kent]

The minute new car sales took a dive was the beginning of the end for satellite radio. Their current business model simply does not work in this economic environment.

[pacificvibes]

Lord please, I dont want to go back to FM. I'll hop on board the Stern train. I think he is really funny, but I didnt buy it just for him. I think the vast range of different kinds of music. I really hope something works out, and soon

[DetroitSportsFan]

Originally Posted by Clark Kent

The minute new car sales took a dive was the beginning of the end for satellite radio. Their current business model simply does not work in this economic environment.

You're right, people get exposed to satellite radio with a new car purchase, and normally want to keep it. Car sales are down, so subscriptions are down. That happened to me a few weeks ago when we bought a new vehicle. Now I can't go back to FM.