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Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
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#1 |
So Fucking Banned
Join Date: Oct 2003
Location: Mother fuckin Earth
Posts: 5,013
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Sirius Could File For Bankruptcy As Early As Tuesday
http://www.huffingtonpost.com/2009/0..._n_166869.html
Financially strapped Sirius XM Radio Inc. 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. and sister company EchoStar Corp. 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. A bankruptcy filing for Sirius would give it the right to terminate contracts with on-air talent, such as Martha Stewart and Howard Stern, who has a five-year, $500 million deal. A Chapter 11 filing also could crimp Sirius' growth because subscribers might shy away from a company in bankruptcy. Sirius has nearly 20 million listeners and provides a wide range of music, sports and talk radio. Liberty Media Corp. is in talks with Sirius about possibly investing in the company, a move that could fend off Ergen. But the DirecTV Group Inc., a Dish rival controlled by Liberty Chairman John Malone, is not involved in the negotiations, according to a person close to the situation. The person spoke on condition of anonymity because he is not authorized to talk about the negotiations. Liberty's participation in the talks was reported earlier by The Wall Street Journal. Analysts said they didn't think DirecTV would want a satellite radio business or its satellites. DirecTV, the nation's largest satellite TV company, has launched new satellites and is focusing on enhancing its TV service. Sirius and Liberty declined to comment. |
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#2 |
Icq: 14420613
Industry Role:
Join Date: Mar 2001
Location: chicago
Posts: 15,432
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this is like 5 day old news.
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Need WebHosting ? Email me for some great deals [email protected] |
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#3 |
So Fucking Banned
Industry Role:
Join Date: Apr 2001
Location: the beach, SoCal
Posts: 107,089
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Funny stuff.
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#4 |
Monster Rain
Industry Role:
Join Date: Feb 2004
Location: Mongo
Posts: 4,978
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One of their big problems is their subscriber numbers are complete bullshit. I have had XM radio for years, and at one point I had something like 20 units, since I liked to put them in the porn stores I ran. When I left the company I ran I canceled 18 of the units, and this was mid 2006. Here it is 2009 and I still have most of these units, and they all still work. I have called in the past because I was worried about getting billed, and sure enough the units were canceled, I never received another bill, but they all still work.
Then I did a little reading up and XM and Sirius were inflating subscriber numbers by keeping canceled subscriptions active, even though they were no longer charging the customer. I'm sure they had their reasons, be it advertising, proving who had the bigger dick, or XM trying to make itself look healthier than it was for the Sirius takeover...
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“My Free Cams Affiliate Program by CrakRevenue” |
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#5 |
Confirmed User
Join Date: Jul 2004
Location: Vancouver
Posts: 4,170
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I fucking love my Sirius radio ..hate reading that shit
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